Rite Aid (NYSE:RAD)‘s stock had its “buy” rating reissued by analysts at Cowen in a research note issued to investors on Thursday. They presently have a $2.35 price objective on the stock. Cowen’s price objective suggests a potential upside of 35.84% from the stock’s previous close.
RAD has been the subject of several other reports. Zacks Investment Research lowered shares of Rite Aid from a “buy” rating to a “hold” rating in a research report on Friday, April 13th. Mizuho reiterated a “hold” rating on shares of Rite Aid in a research report on Tuesday, April 17th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $2.07.
Rite Aid stock opened at $1.73 on Thursday. Rite Aid has a 52 week low of $1.38 and a 52 week high of $2.95. The company has a current ratio of 1.49, a quick ratio of 0.85 and a debt-to-equity ratio of 1.75. The company has a market cap of $1.88 billion, a price-to-earnings ratio of -86.50 and a beta of 1.69.
Rite Aid (NYSE:RAD) last posted its quarterly earnings results on Wednesday, June 27th. The company reported ($0.01) EPS for the quarter, hitting analysts’ consensus estimates of ($0.01). The company had revenue of $5.39 billion for the quarter, compared to analysts’ expectations of $5.32 billion. Rite Aid had a net margin of 5.18% and a negative return on equity of 2.88%. Rite Aid’s revenue was down .9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.05) EPS. sell-side analysts expect that Rite Aid will post 0.04 earnings per share for the current fiscal year.
Institutional investors have recently bought and sold shares of the business. State of Wisconsin Investment Board lifted its stake in Rite Aid by 93.3% in the fourth quarter. State of Wisconsin Investment Board now owns 3,593,475 shares of the company’s stock worth $7,079,000 after purchasing an additional 1,734,500 shares during the last quarter. HBK Investments L P lifted its stake in Rite Aid by 37.0% in the fourth quarter. HBK Investments L P now owns 1,699,108 shares of the company’s stock worth $3,347,000 after purchasing an additional 459,108 shares during the last quarter. Sequoia Financial Advisors LLC bought a new stake in Rite Aid in the fourth quarter worth $101,000. Teachers Advisors LLC raised its stake in shares of Rite Aid by 1.9% during the fourth quarter. Teachers Advisors LLC now owns 1,331,687 shares of the company’s stock valued at $2,623,000 after acquiring an additional 25,238 shares during the last quarter. Finally, Two Sigma Investments LP raised its stake in shares of Rite Aid by 2,989.0% during the fourth quarter. Two Sigma Investments LP now owns 1,702,759 shares of the company’s stock valued at $3,354,000 after acquiring an additional 1,647,635 shares during the last quarter. 50.70% of the stock is owned by institutional investors and hedge funds.
Rite Aid Company Profile
Rite Aid Corporation, through its subsidiaries, operates a chain of retail drugstores in the United States. It operates through two segments, Retail Pharmacy and Pharmacy Services. The Retail Pharmacy segment sells prescription drugs and a range of other merchandise, including over-the-counter medications, health and beauty aids, personal care items, cosmetics, household items, food and beverages, greeting cards, seasonal merchandise, and other every day and convenience products.
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