Shares of Rite Aid Co. (NYSE:RAD) have received a consensus rating of “Hold” from the ten brokerages that are covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $2.16.
Several research firms recently issued reports on RAD. Zacks Investment Research raised shares of Rite Aid from a “sell” rating to a “hold” rating in a research note on Friday, October 5th. Loop Capital set a $1.00 price objective on shares of Rite Aid and gave the company a “hold” rating in a research note on Friday, September 28th. Royal Bank of Canada set a $1.00 price objective on shares of Rite Aid and gave the company a “hold” rating in a research note on Monday, September 24th. Goldman Sachs Group initiated coverage on shares of Rite Aid in a research note on Thursday, September 6th. They issued a “sell” rating and a $1.00 price objective for the company. Finally, Cowen lowered shares of Rite Aid from an “outperform” rating to a “market perform” rating and boosted their target price for the stock from $2.35 to $6.00 in a research report on Monday, August 13th.
RAD stock opened at $1.06 on Wednesday. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.62 and a quick ratio of 0.94. Rite Aid has a 1 year low of $1.02 and a 1 year high of $2.55. The firm has a market capitalization of $1.36 billion, a P/E ratio of -53.00 and a beta of 1.66.
Rite Aid (NYSE:RAD) last released its quarterly earnings data on Thursday, September 27th. The company reported ($0.01) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.01). Rite Aid had a net margin of 3.26% and a negative return on equity of 1.97%. The business had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.36 billion. During the same quarter in the previous year, the business earned ($0.01) EPS. Rite Aid’s quarterly revenue was up 1.4% compared to the same quarter last year. Equities analysts forecast that Rite Aid will post -0.02 earnings per share for the current year.
Institutional investors have recently added to or reduced their stakes in the business. HRT Financial LLC acquired a new position in Rite Aid during the 2nd quarter worth $105,000. Private Management Group Inc. acquired a new position in Rite Aid during the 2nd quarter worth $11,435,000. Alpine Associates Management Inc. lifted its position in Rite Aid by 35.0% during the 2nd quarter. Alpine Associates Management Inc. now owns 13,514,200 shares of the company’s stock worth $22,840,000 after acquiring an additional 3,502,400 shares during the last quarter. GSA Capital Partners LLP acquired a new position in Rite Aid during the 2nd quarter worth $105,000. Finally, Sarbit Advisory Services Inc. acquired a new position in Rite Aid during the 2nd quarter worth $7,987,000. 55.58% of the stock is owned by hedge funds and other institutional investors.
About Rite Aid
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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