Rite Aid (NYSE:RAD) Stock Price Up 5.8%

Rite Aid Co. (NYSE:RAD)’s share price traded up 5.8% on Friday . The company traded as high as $5.74 and last traded at $5.67, 1,835,526 shares were traded during trading. An increase of 7% from the average session volume of 1,709,361 shares. The stock had previously closed at $5.36.

A number of analysts have recently weighed in on the stock. Evercore ISI reaffirmed a “sell” rating on shares of Rite Aid in a report on Monday, August 12th. ValuEngine raised shares of Rite Aid from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $17.50.

The stock’s fifty day moving average price is $7.51 and its two-hundred day moving average price is $4.87. The company has a current ratio of 1.45, a quick ratio of 0.79 and a debt-to-equity ratio of 6.18.

Rite Aid (NYSE:RAD) last issued its quarterly earnings results on Wednesday, June 26th. The company reported ($0.14) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.16). Rite Aid had a negative return on equity of 1.08% and a negative net margin of 3.40%. The firm had revenue of $5.37 billion for the quarter, compared to the consensus estimate of $5.37 billion. During the same period last year, the company posted ($0.20) EPS. On average, research analysts forecast that Rite Aid Co. will post 0.16 earnings per share for the current year.

Several institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. increased its position in Rite Aid by 402.0% during the 1st quarter. JPMorgan Chase & Co. now owns 25,211,896 shares of the company’s stock worth $16,010,000 after purchasing an additional 20,189,504 shares in the last quarter. Norges Bank acquired a new position in Rite Aid during the 4th quarter worth approximately $6,491,000. Morgan Stanley increased its position in Rite Aid by 81.7% during the 2nd quarter. Morgan Stanley now owns 1,978,559 shares of the company’s stock worth $15,847,000 after purchasing an additional 889,900 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in Rite Aid by 449.4% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 846,650 shares of the company’s stock worth $538,000 after purchasing an additional 692,550 shares in the last quarter. Finally, Numen Capital LLP increased its position in Rite Aid by 150.0% during the 1st quarter. Numen Capital LLP now owns 1,000,000 shares of the company’s stock worth $635,000 after purchasing an additional 600,000 shares in the last quarter.

Rite Aid Company Profile (NYSE:RAD)

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.

Read More: Hold Rating

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