Insider Buying: Drax Group Plc (LON:DRX) Insider Buys £165,653.44 in Stock

Drax Group Plc (LON:DRX) insider Andy Skelton bought 60,902 shares of the firm’s stock in a transaction on Wednesday, July 29th. The stock was purchased at an average price of GBX 272 ($3.35) per share, for a total transaction of £165,653.44 ($203,856.07).

Shares of DRX opened at GBX 280 ($3.45) on Friday. Drax Group Plc has a fifty-two week low of GBX 2.52 ($0.03) and a fifty-two week high of GBX 364.60 ($4.49). The firm’s 50 day moving average price is GBX 251.03 and its 200 day moving average price is GBX 235.27. The company has a market cap of $1.11 billion and a P/E ratio of 2,722.00. The company has a quick ratio of 0.73, a current ratio of 1.28 and a debt-to-equity ratio of 74.48.

The firm also recently announced a dividend, which will be paid on Friday, October 2nd. Investors of record on Thursday, August 20th will be paid a dividend of GBX 6.80 ($0.08) per share. This represents a yield of 2.47%. The ex-dividend date of this dividend is Thursday, August 20th. Drax Group’s payout ratio is currently 16,000.00%.

A number of equities research analysts have recently issued reports on the stock. HSBC reduced their price target on shares of Drax Group from GBX 375 ($4.61) to GBX 310 ($3.81) and set a “buy” rating on the stock in a research note on Thursday, April 23rd. Barclays boosted their price target on shares of Drax Group from GBX 375 ($4.61) to GBX 400 ($4.92) and gave the company an “overweight” rating in a research note on Monday, July 6th. JPMorgan Chase & Co. reduced their price target on shares of Drax Group from GBX 400 ($4.92) to GBX 360 ($4.43) and set an “overweight” rating on the stock in a research note on Thursday, May 14th. Royal Bank of Canada boosted their price target on shares of Drax Group from GBX 330 ($4.06) to GBX 340 ($4.18) and gave the company an “outperform” rating in a research note on Thursday, April 23rd. Finally, Credit Suisse Group reissued an “outperform” rating on shares of Drax Group in a research note on Friday. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Drax Group presently has a consensus rating of “Buy” and a consensus price target of GBX 332.50 ($4.09).

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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