Drax Group (LON:DRX) Given “Top pick” Rating at Royal Bank of Canada

Royal Bank of Canada reiterated their top pick rating on shares of Drax Group (LON:DRX) in a report released on Thursday morning, ThisIsMoney.Co.Uk reports.

Other analysts also recently issued reports about the stock. Jefferies Financial Group restated a hold rating on shares of COMPASS GRP PLC/S in a research report on Tuesday, April 9th. HSBC downgraded shares of Drax Group to a hold rating and decreased their price objective for the company from GBX 420 ($5.49) to GBX 380 ($4.97) in a research report on Monday, March 25th. Credit Suisse Group upgraded shares of Laredo Petroleum from an underperform rating to a neutral rating and set a $2.83 price objective on the stock in a research report on Tuesday, July 9th. They noted that the move was a valuation call. Macquarie upgraded shares of AGL Energy from an underperform rating to a neutral rating in a research report on Monday, June 17th. Finally, Barclays restated a top pick rating and set a GBX 3,250 ($42.47) price objective on shares of in a research report on Wednesday, June 19th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. Drax Group currently has a consensus rating of Hold and an average price target of GBX 357.13 ($4.67).

Shares of DRX stock opened at GBX 279.80 ($3.66) on Thursday. The company has a market cap of $1.11 billion and a P/E ratio of 57.10. Drax Group has a one year low of GBX 259.80 ($3.39) and a one year high of GBX 432.40 ($5.65). The company’s fifty day moving average price is GBX 283.01. The company has a quick ratio of 0.38, a current ratio of 0.82 and a debt-to-equity ratio of 34.34.

In related news, insider John Baxter purchased 7,000 shares of Drax Group stock in a transaction on Wednesday, June 26th. The shares were bought at an average cost of GBX 269 ($3.51) per share, for a total transaction of £18,830 ($24,604.73). Also, insider Andy Skelton purchased 15,000 shares of Drax Group stock in a transaction on Tuesday, May 7th. The stock was bought at an average price of GBX 331 ($4.33) per share, for a total transaction of £49,650 ($64,876.52).

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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Analyst Recommendations for Drax Group (LON:DRX)

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