Drax Group (LON:DRX) Upgraded by Credit Suisse Group to Neutral

Credit Suisse Group upgraded shares of Drax Group (LON:DRX) to a neutral rating in a research report report published on Tuesday morning, ThisIsMoney.Co.Uk reports. They currently have GBX 295 ($3.85) price objective on the stock, down from their previous price objective of GBX 325 ($4.25).

Other analysts have also recently issued research reports about the stock. Jefferies Financial Group reissued a hold rating on shares of COMPASS GRP PLC/S in a research note on Tuesday, April 9th. JPMorgan Chase & Co. boosted their target price on shares of from GBX 385 ($5.03) to GBX 480 ($6.27) and gave the stock an overweight rating in a research note on Wednesday, July 3rd. Citigroup boosted their target price on shares of Mongodb from $94.00 to $116.00 and gave the stock a neutral rating in a research note on Thursday, March 14th. Barclays reissued a top pick rating and set a GBX 3,250 ($42.47) target price on shares of in a research note on Wednesday, June 19th. Finally, HSBC cut shares of Drax Group to a hold rating and dropped their price objective for the company from GBX 420 ($5.49) to GBX 380 ($4.97) in a research note on Monday, March 25th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of GBX 357.13 ($4.67).

DRX stock opened at GBX 280.20 ($3.66) on Tuesday. The stock has a market capitalization of $1.11 billion and a PE ratio of 57.18. The stock’s 50-day moving average is GBX 287.43. The company has a quick ratio of 0.38, a current ratio of 0.82 and a debt-to-equity ratio of 34.34. Drax Group has a 52 week low of GBX 259.80 ($3.39) and a 52 week high of GBX 432.40 ($5.65).



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

About Drax Group

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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