Citigroup Cuts Drax Group (LON:DRX) Price Target to GBX 8,160

Drax Group (LON:DRX) had its price target cut by research analysts at Citigroup from GBX 9,230 to GBX 8,160 in a research report issued to clients and investors on Friday,Digital Look reports. The firm presently has a “neutral” rating on the stock.

Other analysts have also issued research reports about the stock. Royal Bank Of Canada restated an “outperform” rating and set a GBX 1,000 target price on shares of Drax Group in a research report on Wednesday, May 6th. Jefferies Financial Group restated a “buy” rating and set a GBX 1,120 target price on shares of Drax Group in a research report on Tuesday. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Drax Group has an average rating of “Moderate Buy” and an average price target of GBX 2,820.

Drax Group Trading Down 0.1%

Shares of DRX opened at GBX 801.88 on Friday. The company has a debt-to-equity ratio of 67.01, a current ratio of 1.07 and a quick ratio of 0.32. The firm has a 50 day simple moving average of GBX 856.11 and a 200-day simple moving average of GBX 848.83. Drax Group has a 1-year low of GBX 613.90 and a 1-year high of GBX 937.50. The stock has a market cap of £2.70 billion, a price-to-earnings ratio of 39.70, a price-to-earnings-growth ratio of 0.10 and a beta of 0.66.

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.