Rite Aid (RAD) Upgraded at Vetr

Vetr upgraded shares of Rite Aid (NYSE:RAD) from a hold rating to a strong-buy rating in a report issued on Tuesday. The brokerage currently has $2.54 price objective on the stock.

Several other research analysts have also recently weighed in on the company. Zacks Investment Research cut Rite Aid from a hold rating to a sell rating in a research report on Tuesday, January 9th. Evercore ISI assumed coverage on Rite Aid in a research report on Thursday, January 4th. They set an underperform rating and a $1.50 price objective for the company. Deutsche Bank assumed coverage on Rite Aid in a research report on Monday, December 4th. They set a hold rating and a $2.25 price objective for the company. Royal Bank of Canada set a $2.00 price objective on Rite Aid and gave the stock a hold rating in a research report on Wednesday, October 25th. Finally, Mizuho set a $2.00 price objective on Rite Aid and gave the stock a hold rating in a research report on Saturday, October 7th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $2.75.

Shares of Rite Aid (NYSE RAD) remained flat at $$2.31 during trading on Tuesday. The stock had a trading volume of 15,083,159 shares, compared to its average volume of 26,806,598. The company has a quick ratio of 0.59, a current ratio of 0.86 and a debt-to-equity ratio of 3.66. The company has a market capitalization of $2,465.95, a P/E ratio of 15.40 and a beta of 1.83. Rite Aid has a 1-year low of $1.38 and a 1-year high of $8.61.

A number of hedge funds and other institutional investors have recently modified their holdings of RAD. Advisor Group Inc. lifted its position in shares of Rite Aid by 49.8% in the second quarter. Advisor Group Inc. now owns 36,518 shares of the company’s stock valued at $101,000 after buying an additional 12,140 shares during the last quarter. Comerica Bank increased its holdings in shares of Rite Aid by 9.2% in the 2nd quarter. Comerica Bank now owns 44,460 shares of the company’s stock valued at $111,000 after acquiring an additional 3,753 shares during the period. Verition Fund Management LLC acquired a new position in Rite Aid in the 2nd quarter valued at $120,000. Fort Pitt Capital Group LLC increased its stake in Rite Aid by 37.8% in the 2nd quarter. Fort Pitt Capital Group LLC now owns 49,210 shares of the company’s stock valued at $145,000 after buying an additional 13,500 shares during the period. Finally, Harbor Advisors LLC increased its stake in Rite Aid by 300.0% in the 3rd quarter. Harbor Advisors LLC now owns 80,000 shares of the company’s stock valued at $157,000 after buying an additional 60,000 shares during the period. 50.72% of the stock is owned by hedge funds and other institutional investors.

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About Rite Aid

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.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Rite Aid (NYSE:RAD)

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