Rite Aid (RAD) Shares Gap Up to $1.99

Rite Aid Co. (NYSE:RAD) shares gapped up prior to trading on Friday . The stock had previously closed at $1.95, but opened at $1.99. Rite Aid shares last traded at $2.01, with a volume of 17760878 shares traded.

Several brokerages have commented on RAD. Deutsche Bank began coverage on shares of Rite Aid in a report on Monday, December 4th. They issued a “hold” rating and a $2.25 target price for the company. Zacks Investment Research upgraded shares of Rite Aid from a “sell” rating to a “hold” rating in a report on Friday, November 17th. Royal Bank of Canada set a $2.00 target price on shares of Rite Aid and gave the stock a “hold” rating in a report on Wednesday, October 25th. Mizuho set a $2.00 target price on shares of Rite Aid and gave the stock a “hold” rating in a report on Saturday, October 7th. Finally, Guggenheim reiterated a “neutral” rating and issued a $2.00 target price on shares of Rite Aid in a report on Monday, October 2nd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $3.25.

The company has a quick ratio of 0.77, a current ratio of 1.74 and a debt-to-equity ratio of 9.71. The stock has a market cap of $2,096.84, a price-to-earnings ratio of 25.13 and a beta of 1.80.

Rite Aid (NYSE:RAD) last posted its quarterly earnings results on Thursday, September 28th. The company reported ($0.01) EPS for the quarter, hitting the consensus estimate of ($0.01). The business had revenue of $7.68 billion during the quarter, compared to analysts’ expectations of $7.83 billion. Rite Aid had a net margin of 0.28% and a negative return on equity of 7.51%. The firm’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same period last year, the company posted $0.03 earnings per share. analysts predict that Rite Aid Co. will post -0.1 earnings per share for the current fiscal year.

In related news, Director Myrtle S. Potter sold 28,189 shares of the firm’s stock in a transaction that occurred on Tuesday, October 3rd. The shares were sold at an average price of $2.09, for a total transaction of $58,915.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.29% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of RAD. Aperio Group LLC lifted its stake in Rite Aid by 53.5% in the second quarter. Aperio Group LLC now owns 179,584 shares of the company’s stock valued at $530,000 after acquiring an additional 62,569 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in Rite Aid by 21.8% in the second quarter. Janney Montgomery Scott LLC now owns 84,271 shares of the company’s stock valued at $249,000 after acquiring an additional 15,060 shares during the last quarter. Teacher Retirement System of Texas lifted its stake in Rite Aid by 638.9% in the second quarter. Teacher Retirement System of Texas now owns 82,377 shares of the company’s stock valued at $243,000 after acquiring an additional 71,229 shares during the last quarter. Dupont Capital Management Corp lifted its stake in Rite Aid by 9.9% in the second quarter. Dupont Capital Management Corp now owns 83,300 shares of the company’s stock valued at $246,000 after acquiring an additional 7,500 shares during the last quarter. Finally, Comerica Bank lifted its stake in Rite Aid by 9.2% in the second quarter. Comerica Bank now owns 44,460 shares of the company’s stock valued at $111,000 after acquiring an additional 3,753 shares during the last quarter. Hedge funds and other institutional investors own 50.72% of the company’s stock.

COPYRIGHT VIOLATION WARNING: This piece of content was reported by Community Financial News and is the property of of Community Financial News. If you are accessing this piece of content on another website, it was copied illegally and republished in violation of United States & international copyright legislation. The legal version of this piece of content can be read at https://www.com-unik.info/2017/12/24/rite-aid-rad-shares-gap-up-to-1-99.html.

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.

Receive News & Ratings for Rite Aid Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rite Aid and related companies with MarketBeat.com's FREE daily email newsletter.

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