Published On: Fri, Sep 9th, 2016

Traders Sell Shares of Rite Aid Corp. (RAD) on Strength (RAD)

Traders sold shares of Rite Aid Corp. (NYSE:RAD) on strength during trading on Thursday. $52.05 million flowed into the stock on the tick-up and $67.27 million flowed out of the stock on the tick-down, for a money net flow of $15.22 million out of the stock. Of all companies tracked, Rite Aid Corp. had the 0th highest net out-flow for the day. Rite Aid Corp. traded up $0.46 for the day and closed at $8.21
A number of brokerages have recently commented on RAD. Zacks Investment Research raised Rite Aid Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, June 8th. Evercore ISI lowered Rite Aid Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, June 1st. JPMorgan Chase & Co. reissued a “hold” rating on shares of Rite Aid Corp. in a report on Friday, June 17th. Finally, 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. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $9.18.
The firm has a 50 day moving average of $7.33 and a 200 day moving average of $7.70. The stock has a market cap of $8.56 billion, a P/E ratio of 60.81 and a beta of 1.78.

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Rite Aid Corp. (NYSE:RAD) last issued its quarterly earnings results on Thursday, June 16th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by $0.04. The firm earned $8.18 billion during the quarter. During the same period last year, the business earned $0.02 EPS. The company’s quarterly revenue was up 23.1% on a year-over-year basis. On average, equities research analysts expect that Rite Aid Corp. will post $0.16 earnings per share for the current fiscal year.
In other news, SVP Douglas E. Donley sold 34,106 shares of the business’s stock in a transaction dated Wednesday, June 15th. The stock was sold at an average price of $7.77, for a total value of $265,003.62. Following the sale, the senior vice president now directly owns 82,885 shares in the company, valued at $644,016.45. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.33% of the stock is owned by insiders.
About Rite Aid Corp.
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.

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