Rite Aid Co. (NYSE:RAD) Receives Consensus Rating of “Hold” from Analysts

Rite Aid Co. (NYSE:RAD) has been assigned a consensus rating of “Hold” from the six ratings firms that are presently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $12.50.

Several research firms recently weighed in on RAD. Deutsche Bank began coverage on Rite Aid in a research report on Thursday, September 12th. They set a “sell” rating and a $5.00 price objective for the company. ValuEngine cut Rite Aid from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Evercore ISI reissued a “sell” rating on shares of Rite Aid in a research report on Monday, August 12th.

Shares of RAD traded up $0.05 during trading hours on Friday, hitting $8.92. 2,100,030 shares of the company were exchanged, compared to its average volume of 3,735,136. The firm’s 50 day moving average is $7.67 and its 200-day moving average is $6.83. Rite Aid has a 52 week low of $5.04 and a 52 week high of $27.20. The company has a debt-to-equity ratio of 6.87, a quick ratio of 0.84 and a current ratio of 1.53.

Rite Aid (NYSE:RAD) last posted its quarterly earnings data on Thursday, September 26th. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.04. Rite Aid had a positive return on equity of 0.02% and a negative net margin of 2.12%. The business had revenue of $5.37 billion during the quarter, compared to analysts’ expectations of $5.41 billion. The business’s quarterly revenue was down 1.0% compared to the same quarter last year. As a group, equities research analysts forecast that Rite Aid will post 0.12 earnings per share for the current fiscal year.

Institutional investors have recently bought and sold shares of the business. Parallax Volatility Advisers L.P. acquired a new position in Rite Aid in the 2nd quarter valued at approximately $66,000. Point72 Hong Kong Ltd acquired a new position in Rite Aid in the 2nd quarter valued at approximately $67,000. Mark Sheptoff Financial Planning LLC acquired a new position in Rite Aid in the 2nd quarter valued at approximately $90,000. HBK Sorce Advisory LLC raised its holdings in Rite Aid by 77.5% in the 2nd quarter. HBK Sorce Advisory LLC now owns 18,825 shares of the company’s stock valued at $141,000 after acquiring an additional 8,220 shares in the last quarter. Finally, Investors Asset Management of Georgia Inc. GA ADV raised its holdings in Rite Aid by 53.3% in the 3rd quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 23,151 shares of the company’s stock valued at $161,000 after acquiring an additional 8,050 shares in the last quarter. 54.78% of the stock is owned by hedge funds and other institutional investors.

Rite Aid Company Profile

Rite Aid Corporation, through its subsidiaries, operates a chain of retail drugstores in the United States. It operates through two segments, Retail Pharmacy and Pharmacy Services. The Retail Pharmacy segment sells prescription drugs and a range 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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