Rite Aid Co. (NYSE:RAD) has received an average rating of “Hold” from the seven analysts that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $2.20.
A number of equities research analysts have recently weighed in on RAD shares. Zacks Investment Research reaffirmed a “buy” rating and issued a $1.25 price objective on shares of Rite Aid in a research note on Wednesday, November 14th. Loop Capital reduced their price objective on Rite Aid from $1.35 to $1.00 and set a “hold” rating for the company in a research note on Thursday, December 20th.
A number of large investors have recently made changes to their positions in the stock. Northern Trust Corp grew its position in Rite Aid by 124.0% during the 2nd quarter. Northern Trust Corp now owns 12,115,100 shares of the company’s stock worth $20,959,000 after purchasing an additional 6,706,701 shares in the last quarter. Vanguard Group Inc increased its holdings in shares of Rite Aid by 2.2% during the 3rd quarter. Vanguard Group Inc now owns 94,321,789 shares of the company’s stock worth $120,732,000 after purchasing an additional 2,006,919 shares during the period. Vanguard Group Inc. increased its stake in Rite Aid by 2.2% in the third quarter. Vanguard Group Inc. now owns 94,321,789 shares of the company’s stock valued at $120,732,000 after acquiring an additional 2,006,919 shares during the period. Kepos Capital LP bought a new stake in Rite Aid in the third quarter valued at about $2,560,000. Finally, BlackRock Inc. grew its stake in Rite Aid by 1.9% during the fourth quarter. BlackRock Inc. now owns 75,443,713 shares of the company’s stock worth $53,438,000 after buying an additional 1,432,479 shares during the last quarter. 50.06% of the stock is currently owned by hedge funds and other institutional investors.
Rite Aid stock traded up $0.01 during midday trading on Tuesday, reaching $0.80. The company’s stock had a trading volume of 73,987 shares, compared to its average volume of 14,200,479. The company has a debt-to-equity ratio of 2.35, a quick ratio of 0.90 and a current ratio of 1.59. Rite Aid has a 52-week low of $0.60 and a 52-week high of $2.30. The stock has a market cap of $842.84 million, a PE ratio of -40.08 and a beta of 1.97.
Rite Aid (NYSE:RAD) last issued its quarterly earnings data on Wednesday, December 19th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.02. Rite Aid had a negative return on equity of 0.94% and a net margin of 2.85%. The company had revenue of $5.45 billion for the quarter, compared to analyst estimates of $5.45 billion. Rite Aid’s revenue was up 1.8% on a year-over-year basis. As a group, sell-side analysts predict that Rite Aid will post -0.02 EPS for the current fiscal year.
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.
Further Reading: Debt-To-Equity Ratio
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