Rite Aid Corporation (NYSE:RAD) has earned an average rating of “Hold” from the eleven research firms that are covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, six have issued a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $4.03.

Several analysts have commented on the company. Cowen and Company reissued an “outperform” rating and issued a $4.70 price objective on shares of Rite Aid Corporation in a report on Monday, June 12th. Guggenheim reissued a “neutral” rating on shares of Rite Aid Corporation in a report on Monday, July 3rd. Bank of America Corporation reissued an “underperform” rating and issued a $2.00 price objective on shares of Rite Aid Corporation in a report on Friday, June 30th. Evercore ISI assumed coverage on Rite Aid Corporation in a report on Friday, June 30th. They issued an “underperform” rating and a $2.50 price objective on the stock. Finally, Royal Bank Of Canada assumed coverage on Rite Aid Corporation in a report on Tuesday, September 19th. They issued a “sector perform” rating and a $2.50 price objective on the stock.

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Rite Aid Corporation by 0.4% in the second quarter. Vanguard Group Inc. now owns 84,788,103 shares of the company’s stock valued at $250,125,000 after purchasing an additional 353,087 shares during the period. BlackRock Inc. raised its position in Rite Aid Corporation by 4,995.0% in the first quarter. BlackRock Inc. now owns 50,473,198 shares of the company’s stock valued at $214,510,000 after purchasing an additional 49,482,563 shares during the period. FMR LLC raised its position in Rite Aid Corporation by 204.0% in the second quarter. FMR LLC now owns 29,123,366 shares of the company’s stock valued at $85,914,000 after purchasing an additional 19,542,772 shares during the period. State Street Corp raised its position in Rite Aid Corporation by 6.2% in the first quarter. State Street Corp now owns 20,138,093 shares of the company’s stock valued at $85,585,000 after purchasing an additional 1,170,078 shares during the period. Finally, Morgan Stanley raised its position in Rite Aid Corporation by 14.9% in the first quarter. Morgan Stanley now owns 8,801,138 shares of the company’s stock valued at $37,405,000 after purchasing an additional 1,143,809 shares during the period. 52.62% of the stock is currently owned by institutional investors.

Rite Aid Corporation (RAD) traded down 3.45% on Friday, reaching $1.96. The company’s stock had a trading volume of 55,363,145 shares. The firm has a 50-day moving average of $2.38 and a 200 day moving average of $3.36. Rite Aid Corporation has a 12-month low of $1.93 and a 12-month high of $8.77. The company’s market capitalization is $2.05 billion.

Rite Aid Corporation (NYSE:RAD) last announced its quarterly earnings results on Thursday, September 28th. The company reported ($0.01) earnings per share for the quarter, meeting the consensus estimate of ($0.01). Rite Aid Corporation had a negative return on equity of 7.51% and a net margin of 0.28%. The company had revenue of $7.68 billion during the quarter, compared to analysts’ expectations of $7.83 billion. During the same period last year, the business earned $0.03 earnings per share. Rite Aid Corporation’s quarterly revenue was down 4.4% on a year-over-year basis. On average, equities research analysts anticipate that Rite Aid Corporation will post ($0.09) EPS for the current fiscal year.

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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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