Drax Group (LON:DRX) Sets New 12-Month High – Here’s What Happened

Drax Group plc (LON:DRX)’s stock price reached a new 52-week high on Monday . The company traded as high as GBX 915 and last traded at GBX 890.50, with a volume of 566449 shares traded. The stock had previously closed at GBX 891.50.

Wall Street Analysts Forecast Growth

DRX has been the topic of several research reports. Citigroup raised shares of Drax Group to a “buy” rating and lifted their price target for the stock from GBX 689 to GBX 850 in a research note on Wednesday, December 3rd. Jefferies Financial Group boosted their price target on shares of Drax Group from GBX 750 to GBX 1,120 and gave the stock a “buy” rating in a research note on Wednesday, January 7th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a GBX 950 price target on shares of Drax Group in a research report on Wednesday, November 5th. Four analysts have rated the stock with a Buy rating, According to MarketBeat, Drax Group presently has a consensus rating of “Buy” and a consensus target price of GBX 980.

Drax Group Price Performance

The company has a quick ratio of 0.32, a current ratio of 1.26 and a debt-to-equity ratio of 64.11. The firm’s fifty day moving average price is GBX 779.80 and its 200-day moving average price is GBX 722.66. The stock has a market cap of £3.04 billion, a P/E ratio of 8.29, a PEG ratio of 0.10 and a beta of 1.22.

Drax Group Company Profile

Drax Group plc, together with its subsidiaries, engages in renewable power generation in the United Kingdom. It operates through three segments: Pellet Production, Generation, and Customers. The Pellet Production segment produces and sells biomass pellets. The Generation segment provides renewable, dispatchable power, and system support services to the electricity grid. The Customers segment supplies electricity and gas to non-domestic customers. The company owns and operates Drax Power Station located in Selby, North Yorkshire; Cruachan Power Station, a pumped storage hydro station, with an installed capacity of 440 megawatts (MW) located in Argyll and Bute; and Lanark and Galloway hydro-electric power stations with an installed capacity of 126 MW located in southwest Scotland.