Drax Group (LON:DRX) Sets New 52-Week High – Should You Buy?

Drax Group plc (LON:DRX)’s stock price hit a new 52-week high on Thursday . The company traded as high as GBX 937.50 and last traded at GBX 925, with a volume of 719747 shares. The stock had previously closed at GBX 882.50.

Analyst Ratings Changes

A number of research firms recently weighed in on DRX. Citigroup increased their price target on Drax Group from GBX 850 to GBX 923 and gave the company a “buy” rating in a research report on Thursday, February 12th. Royal Bank Of Canada restated an “outperform” rating and issued a GBX 950 target price on shares of Drax Group in a report on Wednesday, November 5th. Finally, Jefferies Financial Group boosted their target price on Drax Group from GBX 750 to GBX 1,120 and gave the company a “buy” rating in a research note on Wednesday, January 7th. Four research analysts have rated the stock with a Buy rating, According to MarketBeat, Drax Group has an average rating of “Buy” and an average price target of GBX 998.25.

Drax Group Trading Up 3.5%

The company’s fifty day moving average is GBX 873.85 and its 200-day moving average is GBX 768.20. The company has a current ratio of 1.26, a quick ratio of 0.32 and a debt-to-equity ratio of 64.11. The firm has a market capitalization of £3.10 billion, a P/E ratio of 8.48, a P/E/G ratio of 0.10 and a beta of 1.22.

Drax Group (LON:DRX) last released its earnings results on Thursday, February 26th. The company reported GBX 137.70 earnings per share for the quarter. Drax Group had a net margin of 9.42% and a return on equity of 31.63%. As a group, sell-side analysts anticipate that Drax Group plc will post 97.4732006 earnings per share for the current fiscal year.

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.