November 25, 2016 - By Louis Casey
In a research report shared with investors and clients on Friday, 25 November, Drax Group (LON:DRX) stock had its “Overweight” Rating reconfirmed by equity analysts at Barclays. They currently have a GBX 325.00 target on firm. Barclays’s target indicates a potential upside of 15.74% from the company’s stock close price.
Out of 16 analysts covering Drax Group PLC (LON:DRX), 3 rate it a “Buy”, 5 “Sell”, while 8 “Hold”. This means 19% are positive. GBX 3600 is the highest target while GBX 180 is the lowest. The GBX 500.06 average target is 77.83% above today’s (GBX 281.2) stock price. Drax Group PLC has been the topic of 112 analyst reports since July 29, 2015 according to StockzIntelligence Inc. The company was maintained on Thursday, November 24 by Barclays Capital. Investec maintained the shares of DRX in a report on Thursday, October 22 with “Buy” rating. HSBC maintained it with “Reduce” rating and GBX 230 target price in Monday, March 7 report. The firm has “Underperform” rating by RBC Capital Markets given on Tuesday, February 9. Societe Generale maintained it with “Hold” rating and GBX 270 target price in Friday, December 4 report. Investec maintained Drax Group Plc (LON:DRX) on Friday, December 4 with “Buy” rating. The stock of Drax Group Plc (LON:DRX) has “Neutral” rating given on Thursday, January 21 by Macquarie Research. As per Tuesday, February 23, the company rating was maintained by Morgan Stanley. The rating was maintained by AlphaValue on Thursday, December 3 with “Buy”. Morgan Stanley maintained Drax Group Plc (LON:DRX) on Tuesday, January 26 with “Equalwt/Cautious” rating.
About 272,787 shares traded hands. Drax Group Plc (LON:DRX) has declined 15.05% since April 27, 2016 and is downtrending. It has underperformed by 20.46% the S&P500.
Drax Group Plc is engaged in the electricity generation; electricity supply to business customers, and manufacturing of sustainable compressed wood pellets for use in electricity production. The company has a market cap of 1.14 billion GBP. The Firm operates through three divisions: Generation, which is engaged in the generation of electricity at Drax Power Station; Biomass Supply, which is engaged in the production of sustainable compressed wood pellets at its processing facilities in the United States, and Retail, which is engaged in the supply of power to business clients and wood pellets to the domestic heat market. It has a 6.92 P/E ratio. It operates through over four business units, including Drax Biomass, which is a supplier of compressed wood pellets manufactured from sustainable sources; Drax Power, which generates electricity, and Supply activities delivered through three routes, such as Drax Power, Haven Power and Billington Bioenergy.
More recent Drax Group Plc (LON:DRX) news were published by: Bloomberg.com which released: “Drax Piles Into Hinkley Debate With Biomass Conversion Offer” on August 25, 2016. Also Fool.Co.Uk published the news titled: “Is There Still Hope For Drax Group Plc And Gulf Keystone Petroleum Limited?” on December 18, 2015. Fool.Co.Uk‘s news article titled: “What do today’s results mean for Drax Group plc, Croda International plc …” with publication date: July 26, 2016 was also an interesting one.
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By Louis Casey