Drax Group Plc (DRX) Stock Rating Reaffirmed by Deutsche Bank AG

Drax Group Plc (LON:DRX)‘s stock had its “hold” rating reissued by investment analysts at Deutsche Bank AG in a research report issued on Friday.

Several other equities research analysts have also recently weighed in on the stock. Macquarie restated a “neutral” rating and issued a GBX 370 ($4.88) price objective on shares of Drax Group Plc in a research report on Thursday. J P Morgan Chase & Co lowered their price objective on shares of Drax Group Plc from GBX 400 ($5.28) to GBX 390 ($5.15) and set an “overweight” rating for the company in a research report on Monday, July 24th. BNP Paribas restated a “neutral” rating and issued a GBX 400 ($5.28) price objective on shares of Drax Group Plc in a research report on Thursday, July 20th. Royal Bank Of Canada upgraded shares of Drax Group Plc to an “outperform” rating and raised their price objective for the company from GBX 340 ($4.49) to GBX 400 ($5.28) in a research report on Monday, July 24th. Finally, Credit Suisse Group restated an “outperform” rating on shares of Drax Group Plc in a research report on Friday, July 21st. One analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of GBX 386.07 ($5.09).

Drax Group Plc (LON DRX) opened at 287.90 on Friday. The company’s market cap is GBX 1.17 billion. The firm has a 50-day moving average of GBX 303.49 and a 200 day moving average of GBX 320.60. Drax Group Plc has a 52-week low of GBX 269.87 and a 52-week high of GBX 393.20.

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In related news, insider Andy Koss purchased 15,000 shares of the business’s stock in a transaction on Tuesday, September 26th. The shares were purchased at an average price of GBX 307 ($4.05) per share, with a total value of £46,050 ($60,768.01). Also, insider David Nussbaum purchased 7,500 shares of the business’s stock in a transaction on Friday, August 18th. The stock was bought at an average cost of GBX 315 ($4.16) per share, for a total transaction of £23,625 ($31,175.77).

Drax Group Plc Company Profile

Drax Group Plc is engaged in the electricity generation; electricity supply to business customers, and manufacturing of sustainable compressed wood pellets for use in electricity production. The Company’s segments include Generation, which is engaged in the generation of electricity at Drax Power Station; Biomass Supply, which is engaged in the production of sustainable compressed wood pellets at its processing facilities in the United States, and Retail, which is engaged in the supply of power to business customers and wood pellets to the domestic heat market.

Analyst Recommendations for Drax Group Plc (LON:DRX)

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