Drax Group (LON:DRX) Given New GBX 689 Price Target at Citigroup

Key Points

• Citigroup raised the price target for Drax Group from GBX 682 to GBX 689, maintaining a "neutral" rating, indicating a potential downside of 2.06% from the stock's previous close.
• JPMorgan Chase initiated coverage on Drax Group with an "overweight" rating and a significantly higher price target of GBX 1,000.
• Drax Group's recent quarterly earnings report showed an EPS of GBX 65.60, with a net margin of 9.42% and a return on equity of 31.63%.

Drax Group (LON:DRX - Get Free Report) had its price target upped by equities research analysts at Citigroup from GBX 682 ($9.07) to GBX 689 ($9.16) in a research report issued on Wednesday,Digital Look reports. The firm currently has a "neutral" rating on the stock. Citigroup's price objective indicates a potential downside of 2.06% from the stock's previous close.

Separately, JPMorgan Chase & Co. started coverage on Drax Group in a research report on Friday, July 4th. They issued an "overweight" rating and a GBX 1,000 ($13.30) price target on the stock.

Drax Group Trading Up 0.4%

LON:DRX opened at GBX 703.50 ($9.35) on Wednesday. The company has a market capitalization of £2.58 billion, a P/E ratio of 4.17, a P/E/G ratio of 0.10 and a beta of 1.22. The stock's 50 day moving average price is GBX 677.93 and its 200 day moving average price is GBX 628.35. The company has a debt-to-equity ratio of 64.11, a quick ratio of 0.32 and a current ratio of 1.26. Drax Group has a 52 week low of GBX 534.50 ($7.11) and a 52 week high of GBX 727 ($9.67).

Drax Group (LON:DRX - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported GBX 65.60 ($0.87) earnings per share (EPS) for the quarter. Drax Group had a net margin of 9.42% and a return on equity of 31.63%. On average, research analysts forecast that Drax Group will post 97.4732006 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Will Gardiner sold 150,000 shares of Drax Group stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of GBX 660 ($8.78), for a total transaction of £990,000 ($1,316,314.32). 0.67% of the stock is currently owned by company insiders.

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.

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