Shares of Rite Aid Co. (NYSE:RAD) have earned a consensus recommendation of “Hold” from the eight analysts that are covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $44.00.
RAD has been the subject of several research reports. Zacks Investment Research raised shares of Zymeworks from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a report on Saturday, April 13th. Guggenheim reissued a “sell” rating on shares of Rite Aid in a report on Thursday, April 18th.
NYSE:RAD traded down $0.24 during mid-day trading on Friday, hitting $8.13. 20,188 shares of the company’s stock were exchanged, compared to its average volume of 3,702,679. Rite Aid has a one year low of $6.14 and a one year high of $40.40. The company has a debt-to-equity ratio of 6.18, a current ratio of 1.45 and a quick ratio of 0.79. The company has a fifty day moving average price of $7.83.
Hedge funds have recently made changes to their positions in the business. Brookstone Capital Management boosted its position in shares of Rite Aid by 111.8% in the first quarter. Brookstone Capital Management now owns 42,617 shares of the company’s stock worth $27,000 after purchasing an additional 22,500 shares during the period. Pensionmark Financial Group LLC bought a new position in shares of Rite Aid in the fourth quarter worth approximately $32,000. D. E. Shaw & Co. Inc. boosted its position in shares of Rite Aid by 137.0% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 54,414 shares of the company’s stock worth $39,000 after purchasing an additional 201,597 shares during the period. Comerica Bank boosted its position in shares of Rite Aid by 12.9% in the first quarter. Comerica Bank now owns 73,784 shares of the company’s stock worth $42,000 after purchasing an additional 8,444 shares during the period. Finally, Mercer Global Advisors Inc. ADV bought a new position in shares of Rite Aid in the first quarter worth approximately $53,000.
Rite Aid Company Profile
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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