Drax Group (LON:DRX) Share Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Shares of Drax Group plc (LON:DRX) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 775.68 and traded as high as GBX 881. Drax Group shares last traded at GBX 863, with a volume of 784,333 shares trading hands.

Analysts Set New Price Targets

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

Drax Group Stock Up 0.8%

The company has a quick ratio of 0.32, a current ratio of 1.07 and a debt-to-equity ratio of 67.01. The firm’s 50-day moving average price is GBX 880.05 and its 200 day moving average price is GBX 775.68. The firm has a market cap of £2.95 billion, a P/E ratio of 8.08, a price-to-earnings-growth ratio of 0.10 and a beta of 0.74.

Drax Group (LON:DRX) last posted its earnings results on Thursday, February 26th. The company reported GBX 137.70 earnings per share (EPS) for the quarter. Drax Group had a net margin of 1.35% and a return on equity of 3.94%. As a group, research analysts expect that Drax Group plc will post 97.4732006 earnings per share for the current 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.