Drax Group (LON:DRX) Stock Crosses Above 200-Day Moving Average - Time to Sell?

Drax Group plc (LON:DRX - Get Free Report)'s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 618.31 ($8.15) and traded as high as GBX 632.50 ($8.33). Drax Group shares last traded at GBX 632.50 ($8.33), with a volume of 931,739 shares trading hands.

Analysts Set New Price Targets

DRX has been the topic of a number of research analyst reports. JPMorgan Chase & Co. raised their price target on shares of Drax Group from GBX 850 ($11.20) to GBX 900 ($11.86) and gave the company an "overweight" rating in a research note on Tuesday, February 11th. Citigroup reaffirmed a "sell" rating and set a GBX 529 ($6.97) target price on shares of Drax Group in a research note on Tuesday, February 11th.

Drax Group Price Performance

The company has a 50 day moving average price of GBX 582.41 and a 200-day moving average price of GBX 617.17. The company has a quick ratio of 0.32, a current ratio of 1.26 and a debt-to-equity ratio of 64.11. The company has a market cap of £2.27 billion, a price-to-earnings ratio of 3.68, a P/E/G ratio of 0.10 and a beta of 1.22.

Drax Group (LON:DRX - Get Free Report) last announced its earnings results on Thursday, February 27th. The company reported GBX 128.40 ($1.69) 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, equities research analysts predict that Drax Group plc will post 97.4732006 EPS for the current fiscal year.

Drax Group Increases Dividend

The firm also recently disclosed a dividend, which will be paid on Friday, May 16th. Shareholders of record on Thursday, April 24th will be issued a dividend of GBX 15.60 ($0.21) per share. This is an increase from Drax Group's previous dividend of $10.40. The ex-dividend date is Thursday, April 24th. This represents a yield of 2.7%. Drax Group's dividend payout ratio is presently 14.24%.

Insider Buying and Selling at Drax Group

In other Drax Group news, insider Will Gardiner sold 114,917 shares of the firm's stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of GBX 574 ($7.56), for a total transaction of £659,623.58 ($869,069.28). Insiders own 0.67% of the company's stock.

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.