Rite Aid’s (RAD) “Sell” Rating Reaffirmed at Guggenheim

Guggenheim reiterated their sell rating on shares of Rite Aid (NYSE:RAD) in a report released on Thursday, Briefing.com Automated Import reports.

RAD has been the topic of a number of other reports. Zacks Investment Research raised shares of Rite Aid from a hold rating to a buy rating and set a $10.00 price objective on the stock in a research report on Thursday, April 11th. Loop Capital lowered their price objective on shares of Rite Aid from $27.00 to $20.00 and set a hold rating on the stock in a research report on Thursday, December 20th. Two equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. The company currently has a consensus rating of Hold and an average target price of $38.33.

Shares of RAD opened at $0.49 on Thursday. Rite Aid has a 52 week low of $0.43 and a 52 week high of $2.12. The company has a quick ratio of 0.91, a current ratio of 1.68 and a debt-to-equity ratio of 2.93.

Rite Aid (NYSE:RAD) last announced its quarterly earnings data on Thursday, April 11th. The company reported ($0.20) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.60) by $0.40. Rite Aid had a negative net margin of 1.95% and a negative return on equity of 1.21%. The firm had revenue of $5.38 billion for the quarter, compared to the consensus estimate of $5.56 billion. During the same period in the previous year, the firm posted ($0.20) earnings per share. On average, research analysts expect that Rite Aid will post 0.01 earnings per share for the current fiscal year.

Hedge funds have recently bought and sold shares of the business. Capstone Financial Advisors Inc. bought a new stake in Rite Aid in the third quarter worth approximately $32,000. Lombard Odier Asset Management USA Corp bought a new stake in Rite Aid in the third quarter worth approximately $32,000. Marshall Wace LLP bought a new stake in Rite Aid in the third quarter worth approximately $47,000. Wedbush Securities Inc. grew its position in Rite Aid by 111.9% in the fourth quarter. Wedbush Securities Inc. now owns 37,875 shares of the company’s stock worth $27,000 after acquiring an additional 20,000 shares in the last quarter. Finally, Nwam LLC bought a new stake in Rite Aid in the fourth quarter worth approximately $27,000. 45.76% of the stock is owned by institutional investors.

About Rite Aid

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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