Jefferies Financial Group reiterated their hold rating on shares of Drax Group (LON:DRX) in a research report released on Thursday, September 19th, Digital Look reports. The brokerage currently has a GBX 300 ($3.92) price objective on the stock, down from their prior price objective of GBX 400 ($5.23).
A number of other brokerages also recently issued reports on DRX. Credit Suisse Group upgraded Drax Group to a neutral rating and lowered their price target for the stock from GBX 325 ($4.25) to GBX 295 ($3.85) in a research report on Tuesday, July 9th. Royal Bank of Canada lowered their price target on Drax Group from GBX 460 ($6.01) to GBX 420 ($5.49) and set a top pick rating on the stock in a research report on Thursday, July 25th. JPMorgan Chase & Co. decreased their target price on Drax Group from GBX 450 ($5.88) to GBX 400 ($5.23) and set an overweight rating on the stock in a research report on Wednesday, July 3rd. Barclays downgraded Drax Group to an equal weight rating in a research report on Wednesday, June 19th. Finally, Macquarie assumed coverage on Drax Group in a research report on Monday, June 17th. They issued a neutral rating and a GBX 280 ($3.66) target price on the stock. Eight research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. Drax Group has an average rating of Hold and an average target price of GBX 341.13 ($4.46).
Shares of DRX traded up GBX 26.20 ($0.34) during mid-day trading on Thursday, reaching GBX 293.20 ($3.83). The company had a trading volume of 2,350,935 shares, compared to its average volume of 1,090,000. The stock has a market capitalization of $1.16 billion and a P/E ratio of 41.89. The stock has a 50 day moving average of GBX 277.74 and a two-hundred day moving average of GBX 306.31. The company has a quick ratio of 0.55, a current ratio of 1.30 and a debt-to-equity ratio of 64.30. Drax Group has a 52-week low of GBX 247.80 ($3.24) and a 52-week high of GBX 432.40 ($5.65).
In other news, insider Andy Skelton acquired 16,250 shares of the company’s stock in a transaction dated Thursday, July 25th. The stock was acquired at an average cost of GBX 298 ($3.89) per share, with a total value of £48,425 ($63,275.84).
About Drax Group
Drax Group plc, together with its subsidiaries, engages in the generation and supply of electricity. The company operates through three segments: Power Generation, Pellet Production, and B2B Energy Supply. It produces low carbon and renewable electricity; and provides system support services to the grid from a portfolio of biomass, hydro, gas, and coal technologies.
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