Rite Aid (RAD) Lowered to Buy at Vetr

Rite Aid (NYSE:RAD) was downgraded by equities research analysts at Vetr from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Thursday. They currently have a $2.47 target price on the stock. Vetr‘s price target points to a potential upside of 5.56% from the company’s current price.

Several other research firms have also recently weighed in on RAD. Royal Bank of Canada assumed coverage on shares of Rite Aid in a report on Tuesday, September 19th. They set a “sector perform” rating and a $2.50 price target on the stock. Zacks Investment Research cut shares of Rite Aid from a “hold” rating to a “sell” rating in a report on Wednesday, October 4th. Evercore ISI assumed coverage on shares of Rite Aid in a report on Thursday, January 4th. They set an “underperform” rating and a $1.50 price target on the stock. Mizuho cut their price target on shares of Rite Aid from $2.95 to $2.25 and set a “neutral” rating on the stock in a report on Friday, October 6th. Finally, Loop Capital restated a “hold” rating and set a $2.00 price target (down from $2.50) on shares of Rite Aid in a report on Friday, September 29th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $2.74.

Rite Aid (NYSE:RAD) opened at $2.34 on Thursday. Rite Aid has a twelve month low of $1.38 and a twelve month high of $8.77. The firm has a market cap of $2,490.00, a PE ratio of 21.27 and a beta of 1.83. The company has a current ratio of 0.86, a quick ratio of 0.59 and a debt-to-equity ratio of 3.66.

A number of hedge funds have recently made changes to their positions in RAD. Advisor Group Inc. raised its position in Rite Aid by 49.8% in the second quarter. Advisor Group Inc. now owns 36,518 shares of the company’s stock worth $101,000 after acquiring an additional 12,140 shares during the period. Comerica Bank raised its position in Rite Aid by 9.2% in the second quarter. Comerica Bank now owns 44,460 shares of the company’s stock worth $111,000 after acquiring an additional 3,753 shares during the period. Verition Fund Management LLC bought a new stake in shares of Rite Aid in the second quarter valued at approximately $120,000. Fort Pitt Capital Group LLC raised its position in shares of Rite Aid by 37.8% in the second quarter. Fort Pitt Capital Group LLC now owns 49,210 shares of the company’s stock valued at $145,000 after purchasing an additional 13,500 shares during the period. Finally, Harbor Advisors LLC raised its position in shares of Rite Aid by 300.0% in the third quarter. Harbor Advisors LLC now owns 80,000 shares of the company’s stock valued at $157,000 after purchasing an additional 60,000 shares during the period. 50.72% of the stock is currently owned by institutional investors and hedge funds.

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About Rite Aid

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.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Rite Aid (NYSE:RAD)

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