Drax Group (LON:DRX) Stock Price Passes Above 200 Day Moving Average - Here's Why

Key Points

• Shares moved above their 200‑day moving average, trading as high as GBX 898.40 and last at GBX 897.80 versus the 200‑day MA of GBX 831.05, on heavy volume (~88.8m shares).
• Analysts have raised targets and maintain a Buy consensus — Jefferies lifted its target to GBX 1,120, Citi to GBX 923, and the consensus price target is GBX 998.25.
• Key fundamentals: market cap ~£3.02bn, high P/E of 44.45, debt‑to‑equity 67.01 and weak liquidity (quick ratio 0.32), while recent quarterly EPS was GBX 137.70 with a net margin of 1.35%.

Drax Group plc (LON:DRX - Get Free Report) shares passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of GBX 831.05 and traded as high as GBX 898.40. Drax Group shares last traded at GBX 897.80, with a volume of 88,826,594 shares changing hands.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Jefferies Financial Group upped their price target on Drax Group from GBX 750 to GBX 1,120 and gave the stock a "buy" rating in a report on Wednesday, January 7th. Citigroup raised their price objective on shares of Drax Group from GBX 850 to GBX 923 and gave the stock a "buy" rating in a research note on Thursday, February 12th. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of GBX 998.25.

Drax Group Price Performance

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 stock's 50-day moving average price is GBX 876.05 and its 200 day moving average price is GBX 831.05. The firm has a market cap of £3.02 billion, a price-to-earnings ratio of 44.45, a price-to-earnings-growth ratio of 0.10 and a beta of 0.68.

Drax Group (LON:DRX - Get Free Report) 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 return on equity of 3.94% and a net margin of 1.35%. Equities research analysts predict that Drax Group plc will post 97.4732006 earnings per share for the current 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.

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