Rite Aid Co. (NYSE:RAD) Receives Average Rating of “Hold” from Analysts

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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.

Rite Aid (NYSE:RAD) last issued its earnings results on Wednesday, June 26th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.16). The firm had revenue of $5.37 billion during the quarter, compared to analysts’ expectations of $5.37 billion. Rite Aid had a negative return on equity of 1.08% and a negative net margin of 3.40%. During the same period last year, the firm posted ($0.20) earnings per share. On average, equities research analysts expect that Rite Aid will post 0.16 earnings per share for the current fiscal year.

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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Analyst Recommendations for Rite Aid (NYSE:RAD)

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