Rite Aid Co. (NYSE:RAD)’s share price traded down 6% during mid-day trading on Friday . The stock traded as low as $5.30 and last traded at $5.31, 2,215,911 shares traded hands during trading. An increase of 30% from the average session volume of 1,700,161 shares. The stock had previously closed at $5.65.
Several equities research analysts have issued reports on the company. ValuEngine raised Rite Aid from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Evercore ISI reaffirmed a “sell” rating on shares of Rite Aid in a report on Monday, August 12th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. Rite Aid presently has a consensus rating of “Hold” and a consensus price target of $17.50.
The company has a current ratio of 1.45, a quick ratio of 0.79 and a debt-to-equity ratio of 6.18. The stock has a fifty day moving average price of $7.14 and a two-hundred day moving average price of $4.97.
Several institutional investors and hedge funds have recently bought and sold shares of RAD. JPMorgan Chase & Co. lifted its holdings in shares of Rite Aid by 402.0% during the first quarter. JPMorgan Chase & Co. now owns 25,211,896 shares of the company’s stock worth $16,010,000 after buying an additional 20,189,504 shares in the last quarter. Norges Bank bought a new position in Rite Aid in the fourth quarter valued at about $6,491,000. Morgan Stanley grew its position in Rite Aid by 81.7% in the second quarter. Morgan Stanley now owns 1,978,559 shares of the company’s stock valued at $15,847,000 after acquiring an additional 889,900 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in Rite Aid by 449.4% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 846,650 shares of the company’s stock valued at $538,000 after acquiring an additional 692,550 shares during the last quarter. Finally, Numen Capital LLP grew its position in Rite Aid by 150.0% in the first quarter. Numen Capital LLP now owns 1,000,000 shares of the company’s stock valued at $635,000 after acquiring an additional 600,000 shares during the last quarter.
Rite Aid Company Profile (NYSE:RAD)
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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