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.

Rite Aid (NYSE:RAD) last issued its quarterly earnings results on Wednesday, June 26th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.16). Rite Aid had a negative return on equity of 1.08% and a negative net margin of 3.40%. The business had revenue of $5.37 billion for the quarter, compared to the consensus estimate of $5.37 billion. During the same period in the prior year, the business posted ($0.20) earnings per share. As a group, equities analysts anticipate that Rite Aid Co. will post 0.16 EPS for the current year.

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.

Recommended Story: What is a front-end load?

Receive News & Ratings for Rite Aid Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rite Aid and related companies with MarketBeat.com's FREE daily email newsletter.