Drax Group (LON:DRX) Price Target Lowered to GBX 8,140 at Citigroup

Drax Group (LON:DRX) had its target price dropped by equities research analysts at Citigroup from GBX 8,160 to GBX 8,140 in a report released on Thursday,London Stock Exchange reports. The firm presently has a “neutral” rating on the stock.

Several other research firms also recently issued reports on DRX. Jefferies Financial Group restated a “buy” rating and issued a GBX 1,120 price target on shares of Drax Group in a research note on Tuesday, June 2nd. Royal Bank Of Canada reissued an “outperform” rating and set a GBX 1,000 target price on shares of Drax Group in a report on Wednesday, May 6th. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of GBX 2,815.

Drax Group Price Performance

Drax Group stock opened at GBX 754 on Thursday. Drax Group has a 12 month low of GBX 613.90 and a 12 month high of GBX 937.50. The stock’s 50 day moving average is GBX 813.10 and its 200-day moving average is GBX 851.59. The company has a current ratio of 1.07, a quick ratio of 0.32 and a debt-to-equity ratio of 62.90. The company has a market capitalization of £2.54 billion, a price-to-earnings ratio of 37.33, a PEG ratio of 0.10 and a beta of 0.63.

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.