Rite Aid Corporation (NYSE:RAD) Receives $5.08 Average PT from Analysts

Shares of Rite Aid Corporation (NYSE:RAD) have been given an average rating of “Hold” by the nine research firms that are currently covering the company, MarketBeat.com reports. Three analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $4.53.

A number of research firms have weighed in on RAD. Guggenheim reaffirmed a “neutral” rating on shares of Rite Aid Corporation in a research report on Monday, July 3rd. Cowen and Company reaffirmed an “outperform” rating and set a $4.70 price target on shares of Rite Aid Corporation in a research report on Monday, July 3rd. Zacks Investment Research raised Rite Aid Corporation from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 16th. Evercore ISI began coverage on Rite Aid Corporation in a report on Friday, June 30th. They issued an “underperform” rating and a $2.50 price objective for the company. Finally, Mizuho downgraded Rite Aid Corporation from a “buy” rating to a “neutral” rating and set a $2.95 price objective for the company. in a report on Thursday, July 20th.

ILLEGAL ACTIVITY WARNING: “Rite Aid Corporation (NYSE:RAD) Receives $5.08 Average PT from Analysts” was originally published by Community Financial News and is the sole property of of Community Financial News. If you are accessing this story on another publication, it was illegally stolen and reposted in violation of U.S. & international copyright and trademark legislation. The original version of this story can be viewed at https://www.com-unik.info/2017/08/12/rite-aid-corporation-nyserad-receives-average-recommendation-of-hold-from-analysts-updated-updated-updated.html.

Shares of Rite Aid Corporation (RAD) opened at 2.31 on Monday. The company’s 50-day moving average is $2.57 and its 200 day moving average is $4.03. Rite Aid Corporation has a 52 week low of $2.21 and a 52 week high of $8.77. The firm’s market capitalization is $2.42 billion. Rite Aid Corporation also was the recipient of unusually large options trading on Wednesday. Stock traders acquired 24,321 call options on the company. This is an increase of approximately 239% compared to the typical volume of 7,173 call options.

Rite Aid Corporation (NYSE:RAD) last released its quarterly earnings results on Thursday, June 29th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by $0.04. Rite Aid Corporation had a positive return on equity of 0.52% and a negative net margin of 0.21%. The firm had revenue of $7.78 billion for the quarter, compared to analyst estimates of $8.29 billion. During the same period last year, the company earned $0.02 EPS. The company’s revenue was down 4.9% compared to the same quarter last year. Analysts anticipate that Rite Aid Corporation will post ($0.09) EPS for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Private Bank & Trust Co. boosted its position in Rite Aid Corporation by 5.3% in the first quarter. Private Bank & Trust Co. now owns 59,500 shares of the company’s stock valued at $253,000 after buying an additional 3,000 shares during the last quarter. Capstone Asset Management Co. boosted its position in Rite Aid Corporation by 7.9% in the first quarter. Capstone Asset Management Co. now owns 25,870 shares of the company’s stock valued at $110,000 after buying an additional 1,890 shares during the last quarter. Gulf International Bank UK Ltd raised its stake in Rite Aid Corporation by 1.3% in the first quarter. Gulf International Bank UK Ltd now owns 334,300 shares of the company’s stock valued at $1,420,000 after buying an additional 4,200 shares during the period. Creative Planning raised its stake in Rite Aid Corporation by 45.1% in the first quarter. Creative Planning now owns 186,211 shares of the company’s stock valued at $792,000 after buying an additional 57,890 shares during the period. Finally, Hefty Wealth Partners raised its stake in Rite Aid Corporation by 1.6% in the first quarter. Hefty Wealth Partners now owns 47,240 shares of the company’s stock valued at $200,000 after buying an additional 740 shares during the period. Hedge funds and other institutional investors own 56.38% of the company’s stock.

About Rite Aid Corporation

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.

Analyst Recommendations for Rite Aid Corporation (NYSE:RAD)

What are top analysts saying about Rite Aid Corporation? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Rite Aid Corporation and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit