Investment analysts at Loop Capital assumed coverage on shares of Rite Aid Corporation (NYSE:RAD) in a research report issued to clients and investors on Monday. The brokerage set a “hold” rating and a $2.50 price target on the stock. Loop Capital’s price target would indicate a potential upside of 4.60% from the stock’s current price.

A number of other analysts also recently commented on the company. Zacks Investment Research upgraded Rite Aid Corporation from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 29th. Mizuho downgraded Rite Aid Corporation from a “buy” rating to a “neutral” rating and set a $2.95 target price on the stock. in a research report on Thursday, July 20th. Guggenheim reiterated a “neutral” rating on shares of Rite Aid Corporation in a research report on Monday, July 3rd. Cowen and Company restated an “outperform” rating and issued a $4.70 price objective on shares of Rite Aid Corporation in a research report on Monday, July 3rd. Finally, Bank of America Corporation restated an “underperform” rating and issued a $2.00 price objective on shares of Rite Aid Corporation in a research report on Friday, June 30th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $4.28.

Shares of Rite Aid Corporation (NYSE:RAD) opened at 2.39 on Monday. The firm has a 50 day moving average price of $2.35 and a 200-day moving average price of $3.50. The firm’s market capitalization is $2.50 billion. Rite Aid Corporation has a 52 week low of $2.21 and a 52 week high of $8.77.

Rite Aid Corporation (NYSE:RAD) last posted 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 firm had revenue of $7.78 billion for 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%. The firm’s revenue for the quarter was down 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.02 earnings per share. Equities research analysts predict that Rite Aid Corporation will post ($0.09) EPS for the current fiscal year.

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Several large investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Rite Aid Corporation by 0.4% in the second quarter. Vanguard Group Inc. now owns 84,788,103 shares of the company’s stock valued at $250,125,000 after acquiring an additional 353,087 shares in the last quarter. BlackRock Inc. lifted its position in shares of Rite Aid Corporation by 4,995.0% in the first quarter. BlackRock Inc. now owns 50,473,198 shares of the company’s stock valued at $214,510,000 after acquiring an additional 49,482,563 shares in the last quarter. FMR LLC lifted its position in shares of Rite Aid Corporation by 204.0% in the second quarter. FMR LLC now owns 29,123,366 shares of the company’s stock valued at $85,914,000 after acquiring an additional 19,542,772 shares in the last quarter. State Street Corp lifted its position in shares of Rite Aid Corporation by 6.2% in the first quarter. State Street Corp now owns 20,138,093 shares of the company’s stock valued at $85,585,000 after acquiring an additional 1,170,078 shares in the last quarter. Finally, Morgan Stanley lifted its position in shares of Rite Aid Corporation by 14.9% in the first quarter. Morgan Stanley now owns 8,801,138 shares of the company’s stock valued at $37,405,000 after acquiring an additional 1,143,809 shares in the last quarter. Institutional investors and hedge funds own 52.63% of the company’s stock.

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.

Analyst Recommendations for Rite Aid Corporation (NYSE:RAD)

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