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.
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.
COPYRIGHT VIOLATION NOTICE: This report was first published by Ticker Report and is the property of of Ticker Report. If you are accessing this report on another site, it was illegally copied and reposted in violation of United States & international copyright & trademark legislation. The correct version of this report can be read at https://www.tickerreport.com/banking-finance/4116423/rite-aid-rad-stock-price-down-6-5.html.
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
Receive News & Ratings for Rite Aid Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rite Aid and related companies with MarketBeat.com's FREE daily email newsletter.