Rite Aid (RAD) Stock Price Down 6.5%

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Rite Aid Co. (NYSE:RAD) shares were down 6.5% during mid-day trading on Tuesday . The stock traded as low as $0.85 and last traded at $0.86. Approximately 16,426,400 shares changed hands during trading, an increase of 20% from the average daily volume of 13,703,843 shares. The stock had previously closed at $0.92.

Several research analysts recently issued reports on RAD shares. Zacks Investment Research raised Rite Aid from a “sell” rating to a “hold” rating in a research report on Friday, October 5th. Loop Capital reduced their target price on Rite Aid from $1.35 to $1.00 and set a “hold” rating on the stock in a research report on Thursday, December 20th. One analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. Rite Aid has a consensus rating of “Hold” and a consensus target price of $2.04.

The stock has a market cap of $880.39 million, a PE ratio of -40.17 and a beta of 1.81. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.59 and a quick ratio of 0.90.

Rite Aid (NYSE:RAD) last announced its earnings results on Wednesday, December 19th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.02. The company had revenue of $5.45 billion for the quarter, compared to analyst estimates of $5.45 billion. Rite Aid had a negative return on equity of 0.94% and a net margin of 2.85%. The firm’s quarterly revenue was up 1.8% compared to the same quarter last year. On average, research analysts predict that Rite Aid Co. will post -0.02 EPS for the current year.

Hedge funds have recently made changes to their positions in the company. Nwam LLC acquired a new position in shares of Rite Aid in the fourth quarter valued at about $27,000. Wedbush Securities Inc. increased its holdings in shares of Rite Aid by 111.9% in the fourth quarter. Wedbush Securities Inc. now owns 37,875 shares of the company’s stock valued at $27,000 after purchasing an additional 20,000 shares during the period. Allred Capital Management LLC acquired a new position in shares of Rite Aid in the fourth quarter valued at about $31,000. Lombard Odier Asset Management USA Corp acquired a new position in shares of Rite Aid in the third quarter valued at about $32,000. Finally, Capstone Financial Advisors Inc. acquired a new stake in Rite Aid during the third quarter worth about $32,000. 50.17% of the stock is currently owned by institutional investors and hedge funds.

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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.

See Also: Beta

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