BidaskClub upgraded shares of Rite Aid (NYSE:RAD) from a buy rating to a strong-buy rating in a research note published on Tuesday, BidAskClub reports.A number of other research analysts have also recently commented on RAD. Zacks Investment Research cut shares of Rite Aid from a strong-buy rating to a hold rating and set a $15.00 target price for the company. in a report on Wednesday, August 26th. ValuEngine upgraded shares of Rite Aid from a sell rating to a hold rating in a research report on Monday, November 2nd. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Rite Aid from $18.00 to $9.00 and set a hold rating for the company in a report on Friday, September 25th. Finally, Evercore ISI raised their price objective on Rite Aid from $4.00 to $6.00 and gave the company an underperform rating in a report on Thursday, September 24th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a strong buy rating to the company’s stock. Rite Aid presently has an average rating of Hold and an average price target of $11.75.
Shares of RAD opened at $18.34 on Tuesday. The firm has a market cap of $1.01 billion, a P/E ratio of -2.80 and a beta of 0.79. The company has a debt-to-equity ratio of 5.84, a quick ratio of 0.82 and a current ratio of 1.58. Rite Aid has a 52 week low of $7.49 and a 52 week high of $23.88. The firm’s 50-day simple moving average is $12.68 and its 200 day simple moving average is $13.25.
Rite Aid (NYSE:RAD) last posted its earnings results on Thursday, September 24th. The company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.10 by $0.15. Rite Aid had a positive return on equity of 2.86% and a negative net margin of 1.51%. The company had revenue of $5.98 billion for the quarter, compared to the consensus estimate of $5.74 billion. During the same quarter in the prior year, the business earned $0.12 earnings per share. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. As a group, equities analysts forecast that Rite Aid will post -0.07 earnings per share for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Private Advisor Group LLC acquired a new position in Rite Aid in the 2nd quarter valued at approximately $26,000. Meeder Asset Management Inc. increased its position in Rite Aid by 77.2% in the 3rd quarter. Meeder Asset Management Inc. now owns 3,455 shares of the company’s stock valued at $34,000 after acquiring an additional 1,505 shares during the period. Great West Life Assurance Co. Can increased its position in Rite Aid by 71.6% in the 3rd quarter. Great West Life Assurance Co. Can now owns 5,512 shares of the company’s stock valued at $52,000 after acquiring an additional 2,300 shares during the period. PNC Financial Services Group Inc. increased its position in Rite Aid by 98.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 6,000 shares of the company’s stock valued at $103,000 after acquiring an additional 2,972 shares during the period. Finally, Point72 Hong Kong Ltd increased its position in Rite Aid by 23,943.9% in the 2nd quarter. Point72 Hong Kong Ltd now owns 9,858 shares of the company’s stock valued at $168,000 after acquiring an additional 9,817 shares during the period. Hedge funds and other institutional investors own 59.71% of the company’s stock.
About Rite Aid
Rite Aid Corporation, through its subsidiaries, operates a chain of retail drugstores in the United States. The company operates through two segments, Retail Pharmacy and Pharmacy Services. The Retail Pharmacy segment sells prescription drugs and an assortment 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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