Drax Group (LON:DRX) Stock Price Passes Above 200-Day Moving Average – Time to Sell?
by Michael Walen · The Markets DailyDrax Group plc (LON:DRX – Get Free Report) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 803.18 and traded as high as GBX 886.50. Drax Group shares last traded at GBX 885.50, with a volume of 779,893 shares trading hands.
Wall Street Analysts Forecast Growth
Several research firms have weighed in on DRX. Citigroup upped their price target on Drax Group from GBX 850 to GBX 923 and gave the stock a “buy” rating in a research note on Thursday, February 12th. Jefferies Financial Group boosted their target price on shares of Drax Group from GBX 750 to GBX 1,120 and gave the stock a “buy” rating in a report on Wednesday, January 7th. Four research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of GBX 998.25.
Get Our Latest Stock Report on DRX
Drax Group Trading Up 0.5%
The stock has a market cap of £3.01 billion, a PE ratio of 44.14, a price-to-earnings-growth ratio of 0.10 and a beta of 0.74. The stock has a 50-day moving average price of GBX 881.97 and a two-hundred day moving average price of GBX 803.77. The company has a debt-to-equity ratio of 67.01, a current ratio of 1.07 and a quick ratio of 0.32.
Drax Group (LON:DRX – Get Free Report) last posted its earnings results on Thursday, February 26th. The company reported GBX 137.70 EPS for the quarter. Drax Group had a return on equity of 3.94% and a net margin of 1.35%. Sell-side analysts forecast that Drax Group plc will post 97.4732006 earnings per share for the current fiscal year.
Drax Group Company Profile
Drax Group plc, together with its subsidiaries, engages in renewable power generation in the United Kingdom. It operates through three segments: Pellet Production, Generation, and Customers. The Pellet Production segment produces and sells biomass pellets. The Generation segment provides renewable, dispatchable power, and system support services to the electricity grid. The Customers segment supplies electricity and gas to non-domestic customers. The company owns and operates Drax Power Station located in Selby, North Yorkshire; Cruachan Power Station, a pumped storage hydro station, with an installed capacity of 440 megawatts (MW) located in Argyll and Bute; and Lanark and Galloway hydro-electric power stations with an installed capacity of 126 MW located in southwest Scotland.