Drax Group (LON:DRX) Stock Price Passes Above 200-Day Moving Average – Should You Sell?

Drax Group plc (LON:DRX)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 783 and traded as high as GBX 893.75. Drax Group shares last traded at GBX 886.50, with a volume of 252,453 shares changing hands.

Analyst Upgrades and Downgrades

DRX has been the subject of a number of recent research reports. Jefferies Financial Group lifted their price objective on Drax Group from GBX 750 to GBX 1,120 and gave the stock a “buy” rating in a research report on Wednesday, January 7th. Citigroup raised their price target on shares of Drax Group from GBX 850 to GBX 923 and gave the stock a “buy” rating in a research note on Thursday, February 12th. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of GBX 998.25.

Drax Group Price Performance

The stock has a market capitalization of £3.00 billion, a P/E ratio of 43.89, a PEG ratio of 0.10 and a beta of 0.74. The company has a 50 day moving average of GBX 884.28 and a 200-day moving average of GBX 783. The company has a quick ratio of 0.32, a current ratio of 1.07 and a debt-to-equity ratio of 67.01.

Drax Group (LON:DRX) last released its earnings results on Thursday, February 26th. The company reported GBX 137.70 earnings per share for the quarter. Drax Group had a net margin of 1.35% and a return on equity of 3.94%. Sell-side analysts predict that Drax Group plc will post 97.4732006 EPS for the current year.

About Drax Group

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.