Citigroup Reaffirms "Sell" Rating for Drax Group (LON:DRX)

Citigroup reissued their sell rating on shares of Drax Group (LON:DRX - Free Report) in a research note released on Tuesday, MarketBeat reports. Citigroup currently has a GBX 529 ($6.65) price target on the stock.

Separately, JPMorgan Chase & Co. raised their price target on shares of Drax Group from GBX 850 ($10.68) to GBX 900 ($11.31) and gave the company an "overweight" rating in a research report on Tuesday.

Drax Group Stock Down 0.3 %

Shares of DRX traded down GBX 2 ($0.03) during trading hours on Tuesday, reaching GBX 630.50 ($7.92). 658,747 shares of the stock traded hands, compared to its average volume of 1,440,247. The company has a current ratio of 1.26, a quick ratio of 0.32 and a debt-to-equity ratio of 64.11. The stock has a fifty day simple moving average of GBX 632.58 and a 200 day simple moving average of GBX 640.98. Drax Group has a 52 week low of GBX 407.40 ($5.12) and a 52 week high of GBX 692 ($8.70). The company has a market cap of £2.31 billion, a price-to-earnings ratio of 3.74, a PEG ratio of 0.10 and a beta of 1.22.

About Drax Group

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.