Drax Group (LON:DRX) Given “Top pick” Rating at Royal Bank of Canada

Royal Bank of Canada reiterated their top pick rating on shares of Drax Group (LON:DRX) in a research note released on Thursday morning, ThisIsMoney.Co.Uk reports.

Other analysts have also issued reports about the stock. Deutsche Bank increased their target price on shares of Spirit Airlines from $75.00 to $79.00 and gave the stock a buy rating in a report on Friday, July 12th. Credit Suisse Group raised shares of Laredo Petroleum from an underperform rating to a neutral rating and set a $2.83 price target for the company in a research note on Tuesday, July 9th. They noted that the move was a valuation call. Macquarie raised shares of AGL Energy from an underperform rating to a neutral rating in a research note on Monday, June 17th. Jefferies Financial Group reissued a hold rating on shares of COMPASS GRP PLC/S in a research note on Tuesday, April 9th. Finally, Barclays reissued a top pick rating and issued a GBX 3,250 ($42.47) price target on shares of in a research note on Wednesday, June 19th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. Drax Group has a consensus rating of Hold and a consensus target price of GBX 357.13 ($4.67).

LON DRX opened at GBX 279.80 ($3.66) on Thursday. The company’s 50-day simple moving average is GBX 283.01. The company has a current ratio of 0.82, a quick ratio of 0.38 and a debt-to-equity ratio of 34.34. Drax Group has a 12-month low of GBX 259.80 ($3.39) and a 12-month high of GBX 432.40 ($5.65). The stock has a market capitalization of $1.11 billion and a price-to-earnings ratio of 57.10.

In other news, insider Andy Skelton purchased 15,000 shares of the business’s stock in a transaction dated Tuesday, May 7th. The shares were purchased at an average price of GBX 331 ($4.33) per share, for a total transaction of £49,650 ($64,876.52). Also, insider John Baxter purchased 7,000 shares of the business’s stock in a transaction dated Wednesday, June 26th. The shares were purchased at an average price of GBX 269 ($3.51) per share, for a total transaction of £18,830 ($24,604.73).

Drax Group Company Profile

Drax Group plc, together with its subsidiaries, engages in the generation and supply of electricity. The company operates through three segments: Power Generation, Pellet Production, and B2B Energy Supply. It produces low carbon and renewable electricity; and provides system support services to the grid from a portfolio of biomass, hydro, gas, and coal technologies.

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Analyst Recommendations for Drax Group (LON:DRX)

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