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Drax Group plc ( (GB:DRX) ) has shared an announcement.
Drax Group plc has executed a share buyback transaction, purchasing 151,870 of its ordinary shares at a weighted average price of 618.95 pence per share. This transaction is part of a previously announced buyback program, and following this purchase, the company now has 429,602,134 shares in issue, with 74,794,490 held in treasury. The total number of voting rights, excluding treasury shares, stands at 354,807,644, which is relevant for shareholders and stakeholders monitoring their interests under regulatory rules.
The most recent analyst rating on (GB:DRX) stock is a Buy with a £7.50 price target. To see the full list of analyst forecasts on Drax Group plc stock, see the GB:DRX Stock Forecast page.
Spark’s Take on GB:DRX Stock
According to Spark, TipRanks’ AI Analyst, GB:DRX is a Outperform.
Drax Group plc scores well due to robust financial performance, especially in cash generation and profitability, and attractive valuation metrics. The company’s strategic initiatives, including share buybacks and dividend increases, enhance shareholder value. However, challenges like inconsistent revenue growth and regulatory uncertainties temper the outlook. Technical indicators suggest cautious optimism, with potential resistance at current levels.
To see Spark’s full report on GB:DRX stock, click here.
More about Drax Group plc
Average Trading Volume: 1,619,066
Technical Sentiment Signal: Strong Buy
Current Market Cap: £2.19B
For detailed information about DRX stock, go to TipRanks’ Stock Analysis page.
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