Rite Aid Corporation (RAD) Given Neutral Rating at Guggenheim
Rite Aid Corporation (NYSE:RAD)‘s stock had its “neutral” rating reaffirmed by investment analysts at Guggenheim in a research note issued to investors on Monday. They currently have a $2.00 target price on the stock. Guggenheim’s price target suggests a potential upside of 2.04% from the company’s previous close.
Several other research firms have also commented on RAD. Loop Capital reissued a “hold” rating and set a $2.00 price objective (down previously from $2.50) on shares of Rite Aid Corporation in a research note on Friday. Evercore ISI began coverage on shares of Rite Aid Corporation in a research note on Friday, June 30th. They set an “underperform” rating and a $2.50 target price for the company. Royal Bank Of Canada assumed coverage on shares of Rite Aid Corporation in a research note on Tuesday, September 19th. They set a “sector perform” rating and a $2.50 target price for the company. Mizuho lowered shares of Rite Aid Corporation from a “buy” rating to a “neutral” rating and set a $2.95 target price for the company. in a report on Thursday, July 20th. Finally, Bank of America Corporation reiterated an “underperform” rating and set a $2.00 target price on shares of Rite Aid Corporation in a report on Friday, June 30th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $3.82.
Shares of Rite Aid Corporation (NYSE:RAD) traded up 4.59% during mid-day trading on Monday, reaching $2.05. 43,286,688 shares of the company’s stock were exchanged. The stock has a 50-day moving average of $2.38 and a 200 day moving average of $3.36. The firm’s market capitalization is $2.15 billion. Rite Aid Corporation has a one year low of $1.90 and a one year high of $8.77.
Rite Aid Corporation (NYSE:RAD) last released its earnings results on Thursday, September 28th. The company reported ($0.01) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.01). The firm had revenue of $7.68 billion for the quarter, compared to the consensus estimate of $7.83 billion. Rite Aid Corporation had a net margin of 0.28% and a negative return on equity of 7.51%. The company’s revenue was down 4.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.03 EPS. On average, analysts forecast that Rite Aid Corporation will post ($0.09) EPS for the current fiscal year.
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Several large investors have recently bought and sold shares of RAD. Great West Life Assurance Co. Can raised its holdings in Rite Aid Corporation by 2.6% in the 1st quarter. Great West Life Assurance Co. Can now owns 422,633 shares of the company’s stock worth $1,790,000 after acquiring an additional 10,651 shares during the last quarter. World Asset Management Inc lifted its position in Rite Aid Corporation by 27.1% in the 1st quarter. World Asset Management Inc now owns 46,781 shares of the company’s stock valued at $199,000 after acquiring an additional 9,989 shares in the last quarter. UBS Asset Management Americas Inc. lifted its position in Rite Aid Corporation by 11.2% in the 1st quarter. UBS Asset Management Americas Inc. now owns 2,679,205 shares of the company’s stock valued at $11,387,000 after acquiring an additional 269,545 shares in the last quarter. Karp Capital Management Corp purchased a new stake in Rite Aid Corporation during the 1st quarter valued at $497,000. Finally, TD Asset Management Inc. boosted its stake in Rite Aid Corporation by 4.4% during the 1st quarter. TD Asset Management Inc. now owns 63,943 shares of the company’s stock valued at $272,000 after purchasing an additional 2,700 shares during the last quarter. Hedge funds and other institutional investors own 52.62% 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.
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