Shares of Drax Group Plc (LON:DRX) hit a new 52-week high during trading on Tuesday . The stock traded as high as GBX 365.20 ($4.86) and last traded at GBX 359 ($4.78), with a volume of 1827153 shares changing hands. The stock had previously closed at GBX 343.60 ($4.57).
Several brokerages have recently commented on DRX. Deutsche Bank reiterated a “hold” rating on shares of Drax Group in a report on Wednesday. Royal Bank of Canada decreased their price objective on Drax Group from GBX 400 ($5.33) to GBX 370 ($4.93) and set an “outperform” rating for the company in a report on Wednesday, April 11th. BNP Paribas upgraded Drax Group to an “outperform” rating in a report on Thursday, April 5th. Finally, Credit Suisse Group reiterated an “outperform” rating and set a GBX 350 ($4.66) price objective on shares of Drax Group in a report on Friday, March 23rd. Five investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of GBX 337.78 ($4.50).
In other news, insider Will Gardiner bought 31,386 shares of the business’s stock in a transaction that occurred on Thursday, April 26th. The shares were purchased at an average cost of GBX 319 ($4.25) per share, with a total value of £100,121.34 ($133,299.61).
About Drax Group
Drax Group plc, together with its subsidiaries, engages in the generation and supply of electricity in the United Kingdom. It operates through three segments: Generation, Biomass Supply, and Retail. The company owns and operates Drax Power Station that produces electricity from biomass located in Selby, North Yorkshire.
Receive News & Ratings for Drax Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Drax Group and related companies with MarketBeat.com's FREE daily email newsletter.