Rite Aid Co. (NYSE:RAD) has received a consensus recommendation of “Hold” from the eleven ratings firms that are currently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $3.25.
A number of brokerages have commented on RAD. Royal Bank of Canada began coverage on shares of Rite Aid in a report on Tuesday, September 19th. They set a “sector perform” rating and a $2.50 price objective on the stock. Loop Capital reissued a “hold” rating and set a $2.00 price objective (down previously from $2.50) on shares of Rite Aid in a report on Friday, September 29th. Guggenheim reissued a “neutral” rating and set a $2.00 price objective on shares of Rite Aid in a report on Monday, October 2nd. Zacks Investment Research lowered shares of Rite Aid from a “hold” rating to a “sell” rating in a report on Wednesday, October 4th. Finally, Deutsche Bank began coverage on shares of Rite Aid in a report on Monday, December 4th. They set a “hold” rating and a $2.25 price objective on the stock.
Shares of Rite Aid (RAD) traded up $0.01 during trading on Thursday, hitting $1.93. 18,420,478 shares of the company were exchanged, compared to its average volume of 27,674,354. The company has a quick ratio of 0.77, a current ratio of 1.74 and a debt-to-equity ratio of 9.71. Rite Aid has a 1-year low of $1.38 and a 1-year high of $8.77.
Rite Aid (NYSE:RAD) last announced its earnings results on Thursday, September 28th. The company reported ($0.01) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.01). Rite Aid had a net margin of 0.28% and a negative return on equity of 7.51%. The business had revenue of $7.68 billion during the quarter, compared to analysts’ expectations of $7.83 billion. During the same quarter last year, the company posted $0.03 EPS. The firm’s revenue for the quarter was down 4.4% on a year-over-year basis. equities research analysts forecast that Rite Aid will post -0.1 EPS for the current fiscal year.
In other news, Director Myrtle S. Potter sold 28,189 shares of the firm’s stock in a transaction dated Tuesday, October 3rd. The shares were sold at an average price of $2.09, for a total value of $58,915.01. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 2.29% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. State of New Jersey Common Pension Fund D boosted its stake in shares of Rite Aid by 1.7% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 6,100,000 shares of the company’s stock valued at $11,956,000 after purchasing an additional 100,000 shares during the last quarter. Cowen Inc. boosted its stake in shares of Rite Aid by 173.9% in the 3rd quarter. Cowen Inc. now owns 858,400 shares of the company’s stock valued at $1,682,000 after purchasing an additional 545,000 shares during the last quarter. ING Groep NV boosted its stake in shares of Rite Aid by 176.6% in the 3rd quarter. ING Groep NV now owns 478,600 shares of the company’s stock valued at $938,000 after purchasing an additional 305,600 shares during the last quarter. Stifel Financial Corp boosted its stake in shares of Rite Aid by 71.5% in the 2nd quarter. Stifel Financial Corp now owns 457,561 shares of the company’s stock valued at $1,343,000 after purchasing an additional 190,731 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Rite Aid by 100.4% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,412,603 shares of the company’s stock valued at $15,967,000 after purchasing an additional 2,711,300 shares during the last quarter. 50.72% of the stock is currently owned by institutional investors.
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Rite Aid Company Profile
Rite Aid Corporation is a retail drugstore chain. The Company’s segments include Retail Pharmacy and Pharmacy Services. The Company operates under The Rite Aid name. It operates approximately 4,560 stores in over 30 states across the country and in the District of Columbia. The Company’s Retail Pharmacy segment consists of Rite Aid stores, RediClinic and Health Dialog.
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