Loop Capital reaffirmed their hold rating on shares of Rite Aid Corporation (NYSE:RAD) in a research report report published on Friday morning, MarketBeat.com reports. The firm currently has a $2.00 price objective on the stock, down from their prior price objective of $2.50.

Several other brokerages also recently weighed in on RAD. Zacks Investment Research raised shares of Rite Aid Corporation from a strong sell rating to a hold rating in a research note on Tuesday, August 29th. Mizuho cut 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 research report on Thursday, July 20th. Guggenheim restated a neutral rating on shares of Rite Aid Corporation in a research note on Monday, July 3rd. Cowen and Company restated an outperform rating and issued a $4.70 price target on shares of Rite Aid Corporation in a research note on Monday, July 3rd. Finally, Royal Bank Of Canada started coverage on Rite Aid Corporation in a research report on Tuesday, September 19th. They set a sector perform rating and a $2.50 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Rite Aid Corporation has a consensus rating of Hold and a consensus target price of $3.82.

Rite Aid Corporation (RAD) opened at 2.05 on Friday. The stock’s 50 day moving average price is $2.35 and its 200-day moving average price is $3.18. Rite Aid Corporation has a 52-week low of $1.90 and a 52-week high of $8.77. The company’s market cap is $2.15 billion.

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

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Several institutional investors and hedge funds have recently added to or reduced their stakes in RAD. Great West Life Assurance Co. Can lifted its stake in Rite Aid Corporation by 2.6% during the first quarter. Great West Life Assurance Co. Can now owns 422,633 shares of the company’s stock worth $1,790,000 after purchasing an additional 10,651 shares during the last quarter. World Asset Management Inc boosted its holdings in Rite Aid Corporation by 27.1% in the first quarter. World Asset Management Inc now owns 46,781 shares of the company’s stock valued at $199,000 after purchasing an additional 9,989 shares in the last quarter. UBS Asset Management Americas Inc. boosted its holdings in Rite Aid Corporation by 11.2% in the first quarter. UBS Asset Management Americas Inc. now owns 2,679,205 shares of the company’s stock valued at $11,387,000 after purchasing an additional 269,545 shares in the last quarter. Karp Capital Management Corp acquired a new position in Rite Aid Corporation in the first quarter valued at approximately $497,000. Finally, TD Asset Management Inc. boosted its holdings in Rite Aid Corporation by 4.4% in the first quarter. TD Asset Management Inc. now owns 63,943 shares of the company’s stock valued at $272,000 after purchasing an additional 2,700 shares in the last quarter. Institutional investors and hedge funds own 52.62% of the company’s stock.

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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