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.
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.
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.