Rite Aid Co. (NYSE:RAD) has been assigned a consensus recommendation of “Hold” from the eleven ratings firms that are presently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $2.75.
A number of analysts recently issued reports on the company. 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. 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. Zacks Investment Research cut Rite Aid from a “hold” rating to a “sell” rating in a report on Tuesday, January 9th. Royal Bank of Canada set a $2.00 target price on Rite Aid and gave the stock a “hold” rating in a research note on Wednesday, October 25th. Finally, Deutsche Bank began coverage on Rite Aid in a research note on Monday, December 4th. They issued a “hold” rating and a $2.25 target price on the stock.
Shares of Rite Aid (RAD) opened at $2.05 on Friday. The stock has a market capitalization of $2,200.00, a PE ratio of 18.73 and a beta of 1.76. The company has a debt-to-equity ratio of 3.66, a quick ratio of 0.59 and a current ratio of 0.86. Rite Aid has a 1-year low of $1.38 and a 1-year high of $6.15.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Advisor Group Inc. increased its stake in Rite Aid by 49.8% in the 2nd 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 last quarter. Verition Fund Management LLC bought a new position in Rite Aid in the 2nd quarter worth about $120,000. Fort Pitt Capital Group LLC increased its stake in Rite Aid by 37.8% in the 2nd quarter. Fort Pitt Capital Group LLC now owns 49,210 shares of the company’s stock worth $145,000 after acquiring an additional 13,500 shares during the last quarter. Harbor Advisors LLC increased its stake in Rite Aid by 300.0% in the 3rd quarter. Harbor Advisors LLC now owns 80,000 shares of the company’s stock worth $157,000 after acquiring an additional 60,000 shares during the last quarter. Finally, MML Investors Services LLC increased its stake in Rite Aid by 66.3% in the 2nd quarter. MML Investors Services LLC now owns 59,465 shares of the company’s stock worth $175,000 after acquiring an additional 23,700 shares during the last quarter. Institutional investors and hedge funds own 49.55% of the company’s stock.
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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.
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