Drax Group Plc (DRX) Receives Average Recommendation of “Hold” from Brokerages
Shares of Drax Group Plc (LON:DRX) have received a consensus recommendation of “Hold” from the fourteen ratings firms that are presently covering the company. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is GBX 371.15 ($4.83).
DRX has been the topic of several research reports. Deutsche Bank AG reissued a “hold” rating and issued a GBX 310 ($4.03) target price (up from GBX 280 ($3.64)) on shares of Drax Group Plc in a research report on Friday, February 17th. Credit Suisse Group AG dropped their target price on Drax Group Plc from GBX 425 ($5.53) to GBX 400 ($5.20) and set an “outperform” rating on the stock in a research report on Monday, March 27th. Royal Bank of Canada reissued an “underperform” rating and issued a GBX 320 ($4.16) target price on shares of Drax Group Plc in a research report on Monday, January 30th. Morgan Stanley cut Drax Group Plc to an “underweight” rating and raised their target price for the stock from GBX 310 ($4.03) to GBX 325 ($4.23) in a research report on Friday, February 24th. Finally, JPMorgan Chase & Co. reissued an “overweight” rating and issued a GBX 420 ($5.46) target price (up from GBX 370 ($4.81)) on shares of Drax Group Plc in a research report on Tuesday, February 14th.
In other news, insider Andy Koss sold 2,643 shares of the firm’s stock in a transaction dated Tuesday, March 14th. The stock was sold at an average price of GBX 338 ($4.40), for a total value of £8,933.34 ($11,621.36).
Shares of Drax Group Plc (LON:DRX) opened at 335.60 on Tuesday. The company’s market capitalization is GBX 1.36 billion. Drax Group Plc has a 52 week low of GBX 273.10 and a 52 week high of GBX 393.20. The company has a 50-day moving average price of GBX 316.98 and a 200-day moving average price of GBX 335.73.
COPYRIGHT VIOLATION WARNING: This report was originally published by American Banking News and is the property of of American Banking News. If you are reading this report on another site, it was illegally copied and republished in violation of international copyright and trademark legislation. The correct version of this report can be read at https://www.americanbankingnews.com/2017/05/23/drax-group-plc-drx-receives-average-recommendation-of-hold-from-brokerages.html.
About Drax Group Plc
Drax Group Plc is engaged in the electricity generation; electricity supply to business customers, and manufacturing of sustainable compressed wood pellets for use in electricity production. The Company’s segments include Generation, which is engaged in the generation of electricity at Drax Power Station; Biomass Supply, which is engaged in the production of sustainable compressed wood pellets at its processing facilities in the United States, and Retail, which is engaged in the supply of power to business customers and wood pellets to the domestic heat market.
Receive News & Ratings for Drax Group Plc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Drax Group Plc and related companies with MarketBeat.com's FREE daily email newsletter.