Rite Aid (RAD) Coverage Initiated by Analysts at Deutsche Bank

Analysts at Deutsche Bank initiated coverage on shares of Rite Aid (NYSE:RAD) in a research note issued to investors on Monday, December 4th, Marketbeat Ratings reports. The firm set a “hold” rating and a $2.25 price target on the stock. Deutsche Bank’s price target would indicate a potential upside of 14.21% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on the company. Zacks Investment Research raised Rite Aid from a “sell” rating to a “hold” rating in a report on Friday, November 17th. Royal Bank of Canada set a $2.00 price target on Rite Aid and gave the stock a “hold” rating in a research note on Wednesday, October 25th. Mizuho set a $2.00 price target on Rite Aid and gave the stock a “hold” rating in a research note on Saturday, October 7th. Guggenheim reiterated a “neutral” rating and issued a $2.00 price objective on shares of Rite Aid in a research report on Monday, October 2nd. Finally, Loop Capital restated a “hold” rating and set a $2.00 price target (down from $2.50) on shares of Rite Aid in a research report on Friday, September 29th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Rite Aid currently has a consensus rating of “Hold” and a consensus price target of $3.25.

Shares of Rite Aid (NYSE RAD) traded down $0.03 during midday trading on Monday, reaching $1.97. The company’s stock had a trading volume of 18,045,873 shares, compared to its average volume of 19,253,956. Rite Aid has a fifty-two week low of $1.38 and a fifty-two week high of $8.77. The company has a current ratio of 1.74, a quick ratio of 0.77 and a debt-to-equity ratio of 9.71. The company has a market cap of $2,107.38, a P/E ratio of 24.63 and a beta of 1.80.

Rite Aid (NYSE:RAD) last issued its quarterly earnings results on Thursday, September 28th. The company reported ($0.01) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.01). The firm had revenue of $7.68 billion during the quarter, compared to the consensus estimate of $7.83 billion. Rite Aid had a negative return on equity of 7.51% and a net margin of 0.28%. The company’s revenue for the quarter was down 4.4% on a year-over-year basis. During the same quarter last year, the company posted $0.03 EPS. equities research analysts predict that Rite Aid will post -0.1 EPS for the current fiscal year.

In related news, Director Myrtle S. Potter sold 28,189 shares of the company’s stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $2.09, for a total transaction of $58,915.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.29% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of RAD. Aperio Group LLC increased its position in Rite Aid by 53.5% in the second quarter. Aperio Group LLC now owns 179,584 shares of the company’s stock worth $530,000 after buying an additional 62,569 shares in the last quarter. Janney Montgomery Scott LLC increased its position in Rite Aid by 21.8% in the second quarter. Janney Montgomery Scott LLC now owns 84,271 shares of the company’s stock worth $249,000 after buying an additional 15,060 shares in the last quarter. State of New Jersey Common Pension Fund D increased its position in Rite Aid by 46.3% in the second quarter. State of New Jersey Common Pension Fund D now owns 6,000,000 shares of the company’s stock worth $17,700,000 after buying an additional 1,900,000 shares in the last quarter. Stratos Wealth Partners LTD. increased its position in Rite Aid by 80.2% in the second quarter. Stratos Wealth Partners LTD. now owns 183,911 shares of the company’s stock worth $543,000 after buying an additional 81,855 shares in the last quarter. Finally, Smithfield Trust Co. increased its position in Rite Aid by 37.8% in the second quarter. Smithfield Trust Co. now owns 37,650 shares of the company’s stock worth $111,000 after buying an additional 10,330 shares in the last quarter. Institutional investors and hedge funds own 50.72% of the company’s stock.

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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.

Analyst Recommendations for Rite Aid (NYSE:RAD)

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