Rite Aid Co. (NYSE:RAD) shares saw strong trading volume on Thursday . 16,219,782 shares traded hands during mid-day trading, an increase of 1,014% from the previous session’s volume of 1,456,453 shares.The stock last traded at $8.57 and had previously closed at $7.11.
A number of research analysts have issued reports on the company. Guggenheim reissued a “sell” rating on shares of Rite Aid in a research note on Thursday, April 18th. Zacks Investment Research raised Rite Aid from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research note on Tuesday, April 2nd. Two analysts have 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 price target of $38.33.
The company has a debt-to-equity ratio of 2.93, a current ratio of 1.68 and a quick ratio of 0.91. The firm has a 50-day moving average price of $7.67.
Several hedge funds have recently bought and sold shares of the company. Leisure Capital Management boosted its position in shares of Rite Aid by 4.5% during the first quarter. Leisure Capital Management now owns 170,443 shares of the company’s stock worth $108,000 after buying an additional 7,316 shares during the period. Comerica Bank boosted its position in shares of Rite Aid by 12.9% during the first quarter. Comerica Bank now owns 73,784 shares of the company’s stock worth $42,000 after buying an additional 8,444 shares during the period. Paloma Partners Management Co boosted its position in shares of Rite Aid by 21.5% during the fourth quarter. Paloma Partners Management Co now owns 82,600 shares of the company’s stock worth $59,000 after buying an additional 14,600 shares during the period. Brookstone Capital Management boosted its position in shares of Rite Aid by 111.8% during the first quarter. Brookstone Capital Management now owns 42,617 shares of the company’s stock worth $27,000 after buying an additional 22,500 shares during the period. Finally, Rhumbline Advisers boosted its position in shares of Rite Aid by 1.6% during the first quarter. Rhumbline Advisers now owns 1,586,561 shares of the company’s stock worth $1,007,000 after buying an additional 25,030 shares during the period.
About Rite Aid (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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