Rite Aid Corp. (RAD) Trading Up -0.1%
Rite Aid Corp. (NYSE:RAD) was up 0.1% on Tuesday . The company traded as high as $8.18 and last traded at $8.11, with a volume of 7,380,457 shares changing hands. The stock had previously closed at $8.12.
Several equities research analysts recently weighed in on the company. Credit Suisse Group AG reissued an “outperform” rating and set a $9.00 price objective on shares of Rite Aid Corp. in a report on Friday, May 20th. Zacks Investment Research raised Rite Aid Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, June 8th. JPMorgan Chase & Co. reissued a “hold” rating on shares of Rite Aid Corp. in a report on Friday, June 17th. Finally, Evercore ISI downgraded Rite Aid Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, June 1st. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $9.18.
The firm has a 50-day moving average of $7.43 and a 200-day moving average of $7.70. The firm has a market capitalization of $8.50 billion, a PE ratio of 60.3696 and a beta of 1.78.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/13/rite-aid-corp-rad-trading-up-0-1.html
Rite Aid Corp. (NYSE:RAD) last released its quarterly earnings results on Thursday, June 16th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.05 by $0.04. The firm earned $8.18 billion during the quarter. Rite Aid Corp. had a return on equity of 36.73% and a net margin of 0.44%. The business’s revenue for the quarter was up 23.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.02 earnings per share. On average, equities research analysts predict that Rite Aid Corp. will post $0.16 earnings per share for the current year.
In related news, SVP Douglas E. Donley sold 34,106 shares of the company’s stock in a transaction on Wednesday, June 15th. The shares were sold at an average price of $7.77, for a total value of $265,003.62. Following the completion of the transaction, the senior vice president now directly owns 82,885 shares in the company, valued at $644,016.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.33% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Teachers Advisors Inc. raised its position in shares of Rite Aid Corp. by 15.3% in the first quarter. Teachers Advisors Inc. now owns 2,939,604 shares of the company’s stock valued at $23,958,000 after buying an additional 390,490 shares during the period. TIAA CREF Investment Management LLC raised its position in shares of Rite Aid Corp. by 6.3% in the first quarter. TIAA CREF Investment Management LLC now owns 3,976,691 shares of the company’s stock valued at $32,410,000 after buying an additional 235,365 shares during the period. Ngam Advisors L.P. raised its position in shares of Rite Aid Corp. by 38.3% in the first quarter. Ngam Advisors L.P. now owns 694,778 shares of the company’s stock valued at $5,662,000 after buying an additional 192,348 shares during the period. CQS Cayman LP raised its position in shares of Rite Aid Corp. by 33.6% in the first quarter. CQS Cayman LP now owns 427,500 shares of the company’s stock valued at $3,484,000 after buying an additional 107,500 shares during the period. Finally, Aperio Group LLC raised its position in shares of Rite Aid Corp. by 9.2% in the first quarter. Aperio Group LLC now owns 192,823 shares of the company’s stock valued at $1,572,000 after buying an additional 16,266 shares during the period. Institutional investors own 63.13% of the company’s stock.
Rite Aid Corp. Company Profile
Rite Aid Corporation is a retail drugstore chain. The Company sells prescription drugs and a range of other merchandise, which are referred to as front-end products. The Company’s drugstores’ primary business is pharmacy services. It operates approximately 4,570 stores in 31 states across the country and in the District of Columbia.
Receive News & Ratings for Rite Aid Corp. Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Rite Aid Corp. and related companies with MarketBeat.com’s FREE daily email newsletter.