Several other research analysts have also recently issued reports on RAD. Guggenheim reissued a “sell” rating on shares of Rite Aid in a research note on Thursday, April 18th. Zacks Investment Research cut Rite Aid from a “buy” rating to a “hold” rating in a research note on Saturday, April 13th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $38.33.
NYSE RAD traded up $0.05 during trading hours on Thursday, hitting $6.99. The company had a trading volume of 1,070,907 shares, compared to its average volume of 2,529,727. Rite Aid has a fifty-two week low of $6.12 and a fifty-two week high of $38.40. The company has a debt-to-equity ratio of 6.18, a current ratio of 1.45 and a quick ratio of 0.79. The business has a fifty day moving average of $7.57.
Several large investors have recently added to or reduced their stakes in the company. MetLife Investment Advisors LLC lifted its holdings in shares of Rite Aid by 30.2% in the first quarter. MetLife Investment Advisors LLC now owns 479,222 shares of the company’s stock valued at $304,000 after purchasing an additional 111,199 shares in the last quarter. Fiera Capital Corp bought a new stake in shares of Rite Aid in the first quarter valued at about $754,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Rite Aid by 449.4% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 846,650 shares of the company’s stock valued at $538,000 after purchasing an additional 692,550 shares in the last quarter. Leisure Capital Management lifted its holdings in shares of Rite Aid by 4.5% in the first quarter. Leisure Capital Management now owns 170,443 shares of the company’s stock valued at $108,000 after purchasing an additional 7,316 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Rite Aid by 402.0% in the first quarter. JPMorgan Chase & Co. now owns 25,211,896 shares of the company’s stock valued at $16,010,000 after purchasing an additional 20,189,504 shares in the last quarter.
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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