Drax Group Plc (LON:DRX)‘s stock had its “neutral” rating reaffirmed by investment analysts at Macquarie in a report released on Thursday. They presently have a GBX 370 ($4.88) price objective on the stock. Macquarie’s price target would indicate a potential upside of 30.88% from the stock’s previous close.
Several other equities analysts also recently commented on DRX. HSBC Holdings plc raised their target price on Drax Group Plc from GBX 340 ($4.49) to GBX 360 ($4.75) and gave the stock a “hold” rating in a research report on Thursday, June 29th. J P Morgan Chase & Co restated an “overweight” rating and set a GBX 400 ($5.28) target price on shares of Drax Group Plc in a research report on Tuesday, July 18th. Deutsche Bank AG restated a “hold” rating and set a GBX 310 ($4.09) target price on shares of Drax Group Plc in a research report on Tuesday, July 18th. Citigroup Inc. downgraded Drax Group Plc to a “neutral” rating and cut their target price for the stock from GBX 391 ($5.16) to GBX 365 ($4.82) in a research report on Wednesday, July 19th. Finally, BNP Paribas restated a “neutral” rating and set a GBX 400 ($5.28) target price on shares of Drax Group Plc in a research report on Thursday, July 20th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of GBX 386.07 ($5.09).
Drax Group Plc (DRX) opened at 282.70 on Thursday. Drax Group Plc has a 52 week low of GBX 269.87 and a 52 week high of GBX 393.20. The company’s 50-day moving average price is GBX 302.62 and its 200-day moving average price is GBX 320.34. The company’s market capitalization is GBX 1.15 billion.
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In other news, insider David Nussbaum bought 7,500 shares of the stock in a transaction dated Friday, August 18th. The stock was bought at an average cost of GBX 315 ($4.16) per share, with a total value of £23,625 ($31,175.77). Also, insider Andy Koss bought 15,000 shares of the stock in a transaction dated Tuesday, September 26th. The stock was purchased at an average cost of GBX 307 ($4.05) per share, with a total value of £46,050 ($60,768.01).
About Drax Group Plc
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.
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