Rite Aid (NYSE:RAD) Shares Down 6.7%
Rite Aid Co. (NYSE:RAD)’s stock price fell 6.7% during mid-day trading on Tuesday . The stock traded as low as $6.55 and last traded at $6.55, 2,747,767 shares traded hands during mid-day trading. An increase of 64% from the average session volume of 1,674,656 shares. The stock had previously closed at $7.02.
Several research firms have recently issued reports on RAD. Guggenheim reaffirmed a “sell” rating on shares of Rite Aid in a research note on Thursday, April 18th. ValuEngine raised Rite Aid from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $38.00.
The company has a quick ratio of 0.79, a current ratio of 1.45 and a debt-to-equity ratio of 6.18. The firm has a 50 day moving average of $7.62.
Several hedge funds have recently modified their holdings of the stock. Mark Sheptoff Financial Planning LLC bought a new stake in Rite Aid during the 2nd quarter valued at $90,000. GSA Capital Partners LLP raised its position in Rite Aid by 161.4% during the 2nd quarter. GSA Capital Partners LLP now owns 26,376 shares of the company’s stock valued at $211,000 after purchasing an additional 16,286 shares in the last quarter. Brookstone Capital Management raised its position in Rite Aid by 111.8% during the 1st quarter. Brookstone Capital Management now owns 42,617 shares of the company’s stock valued at $27,000 after purchasing an additional 22,500 shares in the last quarter. PARK CIRCLE Co bought a new stake in Rite Aid during the 2nd quarter valued at $400,000. Finally, D. E. Shaw & Co. Inc. raised its position in Rite Aid by 137.0% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 54,414 shares of the company’s stock valued at $39,000 after purchasing an additional 201,597 shares in the last quarter.
About Rite Aid (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.
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