Rite Aid Co. (RAD) Receives $2.75 Average Target Price from Analysts

Shares of Rite Aid Co. (NYSE:RAD) have earned a consensus recommendation of “Hold” from the eleven brokerages that are presently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $2.75.

A number of research analysts recently weighed in on the company. Zacks Investment Research raised Rite Aid from a “sell” rating to a “hold” rating in a report on Monday. Vetr raised Rite Aid from a “buy” rating to a “strong-buy” rating and set a $2.54 price objective on the stock in a report on Thursday, January 25th. Evercore ISI assumed coverage on Rite Aid in a report on Thursday, January 4th. They set an “underperform” rating and a $1.50 price objective on the stock. Deutsche Bank assumed coverage on Rite Aid in a report on Monday, December 4th. They set a “hold” rating and a $2.25 price objective on the stock. Finally, Royal Bank of Canada set a $2.00 price objective on Rite Aid and gave the stock a “hold” rating in a report on Wednesday, October 25th.

Shares of Rite Aid (RAD) traded up $0.02 during mid-day trading on Friday, reaching $2.09. The company had a trading volume of 12,032,603 shares, compared to its average volume of 26,433,137. Rite Aid has a 52-week low of $1.38 and a 52-week high of $6.15. The firm has a market capitalization of $2,220.00, a price-to-earnings ratio of 18.91 and a beta of 1.76. The company has a debt-to-equity ratio of 3.66, a current ratio of 0.86 and a quick ratio of 0.59.

A number of institutional investors have recently bought and sold shares of the business. Swiss National Bank grew its holdings in Rite Aid by 3.8% in the fourth quarter. Swiss National Bank now owns 1,822,500 shares of the company’s stock valued at $3,590,000 after purchasing an additional 67,300 shares during the last quarter. California Public Employees Retirement System grew its holdings in Rite Aid by 46.4% in the fourth quarter. California Public Employees Retirement System now owns 4,824,825 shares of the company’s stock valued at $9,505,000 after purchasing an additional 1,528,578 shares during the last quarter. Teacher Retirement System of Texas grew its holdings in Rite Aid by 336.0% in the fourth quarter. Teacher Retirement System of Texas now owns 379,666 shares of the company’s stock valued at $748,000 after purchasing an additional 292,582 shares during the last quarter. Aperio Group LLC grew its holdings in Rite Aid by 124.5% in the fourth quarter. Aperio Group LLC now owns 430,916 shares of the company’s stock valued at $849,000 after purchasing an additional 238,942 shares during the last quarter. Finally, Parametrica Management Ltd acquired a new stake in Rite Aid in the fourth quarter valued at $182,000. 49.55% of the stock is currently owned by institutional investors.

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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.

Analyst Recommendations for Rite Aid (NYSE:RAD)

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