Drax Group’s (DRX) “Sell” Rating Reaffirmed at Citigroup

Drax Group (LON:DRX)‘s stock had its “sell” rating reissued by stock analysts at Citigroup in a research report issued on Tuesday,Digital Look reports. They currently have a GBX 529 ($6.54) price objective on the stock. Citigroup’s target price indicates a potential downside of 18.80% from the company’s previous close.

Separately, JPMorgan Chase & Co. raised their price objective on Drax Group from GBX 850 ($10.50) to GBX 900 ($11.12) and gave the stock an “overweight” rating in a research note on Tuesday.

Drax Group Price Performance

Shares of DRX traded down GBX 7.50 ($0.09) during mid-day trading on Tuesday, hitting GBX 651.50 ($8.05). The company’s stock had a trading volume of 1,160,834 shares, compared to its average volume of 1,400,425. Drax Group has a fifty-two week low of GBX 407.40 ($5.03) and a fifty-two week high of GBX 692 ($8.55). The stock has a market capitalization of £2.48 billion, a price-to-earnings ratio of 392.47, a PEG ratio of 0.10 and a beta of 1.22. The firm has a 50-day moving average price of GBX 633.52 and a 200 day moving average price of GBX 639.23. The company has a debt-to-equity ratio of 63.77, a current ratio of 1.26 and a quick ratio of 0.32.

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.