Rite Aid Corporation (NYSE:RAD) was the target of some unusual options trading on Wednesday. Investors purchased 24,321 call options on the company. This represents an increase of 239% compared to the average volume of 7,173 call options.

Several brokerages have recently weighed in on RAD. Zacks Investment Research upgraded Rite Aid Corporation from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 16th. Guggenheim cut Rite Aid Corporation from a “buy” rating to a “neutral” rating in a research report on Tuesday, April 25th. Mizuho cut Rite Aid Corporation from a “buy” rating to a “neutral” rating and set a $2.95 price target on the stock. in a research report on Thursday, July 20th. Cowen and Company reiterated an “outperform” rating and set a $4.70 price target on shares of Rite Aid Corporation in a research report on Monday, June 12th. Finally, Bank of America Corporation reiterated an “underperform” rating and set a $2.00 price target on shares of Rite Aid Corporation in a research report on Friday, June 30th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $4.53.

Rite Aid Corporation (RAD) opened at 2.31 on Friday. Rite Aid Corporation has a one year low of $2.21 and a one year high of $8.77. The stock’s market cap is $2.42 billion. The stock’s 50 day moving average price is $2.57 and its 200 day moving average price is $4.03.

Rite Aid Corporation (NYSE:RAD) last announced its earnings results on Thursday, June 29th. The company reported ($0.05) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.01) by $0.04. The company had revenue of $7.78 billion during the quarter, compared to analysts’ expectations of $8.29 billion. Rite Aid Corporation had a positive return on equity of 0.52% and a negative net margin of 0.21%. Rite Aid Corporation’s revenue for the quarter was down 4.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.02 EPS. Equities analysts predict that Rite Aid Corporation will post ($0.09) earnings per share for the current fiscal year.

A number of institutional investors have recently bought and sold shares of the stock. Macquarie Group Ltd. boosted its position in Rite Aid Corporation by 125.3% in the fourth quarter. Macquarie Group Ltd. now owns 22,300 shares of the company’s stock worth $184,000 after buying an additional 12,400 shares during the last quarter. Capstone Asset Management Co. boosted its position in Rite Aid Corporation by 7.9% in the first quarter. Capstone Asset Management Co. now owns 25,870 shares of the company’s stock worth $110,000 after buying an additional 1,890 shares during the last quarter. Cohen Capital Management Inc. boosted its position in Rite Aid Corporation by 3.4% in the first quarter. Cohen Capital Management Inc. now owns 26,978 shares of the company’s stock worth $115,000 after buying an additional 875 shares during the last quarter. Nordea Investment Management AB boosted its position in Rite Aid Corporation by 24.4% in the first quarter. Nordea Investment Management AB now owns 29,061 shares of the company’s stock worth $124,000 after buying an additional 5,706 shares during the last quarter. Finally, Johanson Financial Advisors Inc. boosted its position in Rite Aid Corporation by 62.2% in the first quarter. Johanson Financial Advisors Inc. now owns 30,515 shares of the company’s stock worth $127,000 after buying an additional 11,700 shares during the last quarter. Institutional investors own 56.38% of the company’s stock.

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Rite Aid Corporation 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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