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The latest update is out from Drax Group plc ( (GB:DRX) ).
Drax Group plc has executed a share buyback program, purchasing 70,000 of its ordinary shares on the London Stock Exchange at prices ranging from 683.5 to 690.5 pence per share. This transaction is part of a broader initiative announced in August 2024, aimed at consolidating the company’s equity and potentially enhancing shareholder value.
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’s overall stock score reflects solid financial performance driven by strong cash flow and profitability metrics, although revenue growth and leverage management remain concerns. The undervaluation highlighted by the P/E ratio and high dividend yield is a significant positive, counterbalanced by mixed technical indicators and regulatory uncertainties. The company’s strategic initiatives, including share buybacks, further bolster the stock’s attractiveness.
To see Spark’s full report on GB:DRX stock, click here.
More about Drax Group plc
Drax Group plc operates in the energy sector, focusing on electricity generation and supply. The company is known for its biomass-fueled power plants and is a significant player in the transition to renewable energy sources.
Average Trading Volume: 1,530,122
Technical Sentiment Signal: Buy
Current Market Cap: £2.36B
See more data about DRX stock on TipRanks’ Stock Analysis page.