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.
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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