Drax Group Plc (DRX) Given Consensus Rating of “Buy” by Brokerages
Drax Group Plc (LON:DRX) has received a consensus recommendation of “Buy” from the fourteen ratings firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is GBX 391.92 ($5.21).
Several equities research analysts recently commented on DRX shares. Credit Suisse Group reaffirmed an “outperform” rating and set a GBX 400 ($5.31) target price on shares of Drax Group Plc in a research note on Friday, September 22nd. HSBC Holdings plc raised their target price on Drax Group Plc from GBX 340 ($4.52) to GBX 360 ($4.78) and gave the stock a “hold” rating in a research note on Thursday, June 29th. Macquarie raised their target price on Drax Group Plc from GBX 350 ($4.65) to GBX 370 ($4.92) and gave the stock a “neutral” rating in a research note on Tuesday, June 27th. J P Morgan Chase & Co reaffirmed an “overweight” rating and set a GBX 400 ($5.31) target price on shares of Drax Group Plc in a research note on Tuesday, July 18th. Finally, Citigroup Inc. cut Drax Group Plc to a “neutral” rating and decreased their target price for the stock from GBX 391 ($5.20) to GBX 365 ($4.85) in a research note on Wednesday, July 19th.
Drax Group Plc (LON:DRX) opened at 287.90 on Friday. The stock’s 50 day moving average price is GBX 306.44 and its 200 day moving average price is GBX 321.40. Drax Group Plc has a 12-month low of GBX 273.10 and a 12-month high of GBX 393.20. The company’s market cap is GBX 1.17 billion.
In related news, insider David Nussbaum bought 7,500 shares of the company’s stock in a transaction dated Friday, August 18th. The shares were bought at an average price of GBX 315 ($4.19) per share, for a total transaction of £23,625 ($31,391.18). Also, insider Andy Koss bought 15,000 shares of the company’s stock in a transaction dated Tuesday, September 26th. The stock was bought at an average price of GBX 307 ($4.08) per share, for a total transaction of £46,050 ($61,187.88).
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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.
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