Analysts at Royal Bank Of Canada began coverage on shares of Rite Aid Corporation (NYSE:RAD) in a research note issued to investors on Tuesday. The firm set a “sector perform” rating and a $2.50 price target on the stock. Royal Bank Of Canada’s price target would suggest a potential upside of 2.46% from the stock’s previous close.

Other research analysts also recently issued reports about the stock. Loop Capital initiated coverage on shares of Rite Aid Corporation in a report on Monday, September 11th. They issued a “hold” rating and a $2.50 price target for the company. Zacks Investment Research raised shares of Rite Aid Corporation from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 29th. Mizuho downgraded shares of Rite Aid Corporation from a “buy” rating to a “neutral” rating and set a $2.95 price target for the company. in a report on Thursday, July 20th. Guggenheim reissued a “neutral” rating on shares of Rite Aid Corporation in a report on Monday, July 3rd. Finally, Cowen and Company reissued an “outperform” rating and issued a $4.70 price target on shares of Rite Aid Corporation in a report on Monday, June 12th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Rite Aid Corporation currently has a consensus rating of “Hold” and a consensus price target of $4.08.

Rite Aid Corporation (NYSE:RAD) opened at 2.44 on Tuesday. Rite Aid Corporation has a 12 month low of $2.21 and a 12 month high of $8.77. The firm’s 50-day moving average is $2.38 and its 200 day moving average is $3.36. The firm’s market capitalization is $2.55 billion.

Rite Aid Corporation (NYSE:RAD) last announced its quarterly earnings results on Thursday, June 29th. The company reported ($0.05) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.04). Rite Aid Corporation had a negative net margin of 0.21% and a positive return on equity of 0.52%. The firm had revenue of $7.78 billion during the quarter, compared to the consensus estimate of $8.29 billion. During the same period in the previous year, the business earned $0.02 earnings per share. The firm’s revenue for the quarter was down 4.9% on a year-over-year basis. On average, analysts expect that Rite Aid Corporation will post ($0.10) EPS for the current fiscal year.

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Several hedge funds and other institutional investors have recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Rite Aid Corporation by 0.7% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 141,287 shares of the company’s stock worth $600,000 after acquiring an additional 968 shares during the last quarter. Capstone Asset Management Co. lifted its holdings in shares of Rite Aid Corporation by 7.9% during the 1st quarter. Capstone Asset Management Co. now owns 25,870 shares of the company’s stock worth $110,000 after acquiring an additional 1,890 shares during the last quarter. Geneva Advisors LLC lifted its holdings in shares of Rite Aid Corporation by 6.5% during the 2nd quarter. Geneva Advisors LLC now owns 43,000 shares of the company’s stock worth $127,000 after acquiring an additional 2,616 shares during the last quarter. TD Asset Management Inc. lifted its holdings in shares of Rite Aid Corporation by 4.4% during the 1st quarter. TD Asset Management Inc. now owns 63,943 shares of the company’s stock worth $272,000 after acquiring an additional 2,700 shares during the last quarter. Finally, Kellner Capital LLC lifted its holdings in shares of Rite Aid Corporation by 0.9% during the 1st quarter. Kellner Capital LLC now owns 321,400 shares of the company’s stock worth $1,366,000 after acquiring an additional 2,900 shares during the last quarter. 52.62% of the stock is owned by institutional investors.

About Rite Aid Corporation

Rite Aid Corporation is a retail drugstore chain. The Company’s segments include Retail Pharmacy and Pharmacy Services. The Company operates under The Rite Aid name. It operates approximately 4,560 stores in over 30 states across the country and in the District of Columbia. The Company’s Retail Pharmacy segment consists of Rite Aid stores, RediClinic and Health Dialog.

Analyst Recommendations for Rite Aid Corporation (NYSE:RAD)

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