Rite Aid (NYSE:RAD) Trading Down 5.1%

Shares of Rite Aid Co. (NYSE:RAD) were down 5.1% on Thursday . The stock traded as low as $20.25 and last traded at $20.25. Approximately 12,039 shares were traded during mid-day trading, a decline of 100% from the average daily volume of 2,737,311 shares. The stock had previously closed at $21.34.

A number of equities analysts have recently commented on the stock. TheStreet raised shares of Rite Aid from a “d+” rating to a “c-” rating in a report on Monday, February 8th. Zacks Investment Research lowered shares of Rite Aid from a “buy” rating to a “hold” rating and set a $25.00 price objective on the stock. in a research note on Wednesday, February 17th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Rite Aid from $17.00 to $27.00 and gave the stock a “hold” rating in a research note on Thursday, March 25th. One equities research analyst has rated the stock with a sell rating and three have given a hold rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $18.75.

The company has a fifty day moving average of $21.85 and a two-hundred day moving average of $16.93. The company has a quick ratio of 0.75, a current ratio of 1.49 and a debt-to-equity ratio of 5.27. The stock has a market capitalization of $1.13 billion, a price-to-earnings ratio of -2.87 and a beta of 1.01.

A number of institutional investors have recently made changes to their positions in RAD. BlackRock Inc. lifted its stake in shares of Rite Aid by 8.7% in the 4th quarter. BlackRock Inc. now owns 4,211,927 shares of the company’s stock worth $66,675,000 after acquiring an additional 337,562 shares during the period. Northern Trust Corp increased its stake in shares of Rite Aid by 32.7% during the fourth quarter. Northern Trust Corp now owns 937,357 shares of the company’s stock worth $14,837,000 after acquiring an additional 231,170 shares during the period. Great Lakes Advisors LLC acquired a new position in shares of Rite Aid during the fourth quarter worth about $14,460,000. Wells Fargo & Company MN boosted its holdings in Rite Aid by 41.9% in the 4th quarter. Wells Fargo & Company MN now owns 763,311 shares of the company’s stock valued at $12,084,000 after purchasing an additional 225,421 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Rite Aid by 0.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 680,371 shares of the company’s stock worth $10,771,000 after purchasing an additional 5,159 shares in the last quarter. Institutional investors own 52.28% of the company’s stock.

Rite Aid Company Profile (NYSE:RAD)

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