Rite Aid (RAD) Trading Up 6.1%
Rite Aid Co. (NYSE:RAD) shares were up 6.1% during mid-day trading on Friday . The company traded as high as $1.90 and last traded at $1.90. Approximately 19,241,332 shares were traded during trading, a decline of 31% from the average daily volume of 27,962,354 shares. The stock had previously closed at $1.79.
A number of research analysts recently issued reports on RAD shares. Loop Capital started coverage on shares of Rite Aid in a research report on Monday, September 11th. They set a “hold” rating and a $2.50 target price on the stock. Zacks Investment Research upgraded shares of Rite Aid from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 29th. Deutsche Bank started coverage on shares of Rite Aid in a research note on Monday, December 4th. They set a “hold” rating and a $2.25 price target for the company. Royal Bank Of Canada set a $2.00 price target on shares of Rite Aid and gave the company a “hold” rating in a research note on Wednesday, October 25th. Finally, Mizuho set a $2.00 price target on shares of Rite Aid and gave the company a “hold” rating in a research note on Saturday, October 7th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $3.25.
The company has a current ratio of 1.74, a quick ratio of 0.77 and a debt-to-equity ratio of 9.71.
In other news, Director Myrtle S. Potter sold 28,189 shares of the company’s stock in a transaction on Tuesday, October 3rd. The shares were sold at an average price of $2.09, for a total value of $58,915.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.29% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Rite Aid by 0.4% in the 2nd quarter. Vanguard Group Inc. now owns 84,788,103 shares of the company’s stock worth $250,125,000 after acquiring an additional 353,087 shares in the last quarter. FMR LLC grew its stake in shares of Rite Aid by 204.0% in the 2nd quarter. FMR LLC now owns 29,123,366 shares of the company’s stock worth $85,914,000 after acquiring an additional 19,542,772 shares in the last quarter. State of New Jersey Common Pension Fund D grew its stake in shares of Rite Aid by 1.7% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 6,100,000 shares of the company’s stock worth $11,956,000 after acquiring an additional 100,000 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Rite Aid by 100.4% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,412,603 shares of the company’s stock worth $15,967,000 after acquiring an additional 2,711,300 shares in the last quarter. Finally, OxFORD Asset Management LLP bought a new stake in shares of Rite Aid in the 2nd quarter worth $14,659,000. Hedge funds and other institutional investors own 50.81% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: “Rite Aid (RAD) Trading Up 6.1%” was originally posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this story on another website, it was illegally stolen and republished in violation of US and international copyright laws. The legal version of this story can be accessed at https://www.thecerbatgem.com/2017/12/10/rite-aid-rad-trading-up-6-1.html.
Rite Aid 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.
Receive News & Stock Ratings for Rite Aid Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rite Aid Co. and related stocks with our FREE daily email newsletter.