Drax Group (LON:DRX) Stock Crosses Above 200-Day Moving Average – Here’s What Happened

Drax Group plc (LON:DRX) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 811.04 and traded as high as GBX 904.40. Drax Group shares last traded at GBX 891.60, with a volume of 20,725,305 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts have recently commented on DRX shares. Citigroup upped their price target on shares of Drax Group from GBX 850 to GBX 923 and gave the company a “buy” rating in a research report on Thursday, February 12th. Jefferies Financial Group upped their price target on shares of Drax Group from GBX 750 to GBX 1,120 and gave the company a “buy” rating in a research report on Wednesday, January 7th. Four investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of GBX 998.25.

Drax Group Price Performance

The company has a debt-to-equity ratio of 67.01, a quick ratio of 0.32 and a current ratio of 1.07. The company’s fifty day moving average is GBX 880.63 and its 200-day moving average is GBX 811.04. The company has a market capitalization of £3.00 billion, a PE ratio of 44.14, a price-to-earnings-growth ratio of 0.10 and a beta of 0.74.

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 return on equity of 3.94% and a net margin of 1.35%. As a group, analysts predict that Drax Group plc will post 97.4732006 EPS for the current fiscal year.

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.