Deutsche Bank assumed coverage on shares of Rite Aid (NYSE:RAD) in a research note published on Thursday morning, BenzingaRatingsTable reports. The brokerage issued a sell rating and a $5.00 target price on the stock.

A number of other research analysts have also recently issued reports on the company. ValuEngine raised Rite Aid from a hold rating to a buy rating in a research note on Thursday, August 1st. Evercore ISI reaffirmed a sell rating on shares of Rite Aid in a research note on Monday, August 12th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $13.75.

Shares of NYSE:RAD opened at $7.81 on Thursday. The stock’s 50-day moving average price is $6.57 and its 200-day moving average price is $5.57. Rite Aid has a 12-month low of $5.04 and a 12-month high of $27.20. The company has a quick ratio of 0.79, a current ratio of 1.45 and a debt-to-equity ratio of 6.18.

Rite Aid (NYSE:RAD) last announced its quarterly earnings data on Wednesday, June 26th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.16). Rite Aid had a negative net margin of 3.40% and a negative return on equity of 1.08%. The company had revenue of $5.37 billion for the quarter, compared to the consensus estimate of $5.37 billion. During the same period last year, the business posted ($0.20) earnings per share. On average, equities research analysts predict that Rite Aid will post -0.04 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Point72 Hong Kong Ltd bought a new stake in shares of Rite Aid in the second quarter worth about $67,000. Mark Sheptoff Financial Planning LLC bought a new stake in shares of Rite Aid in the second quarter worth about $90,000. HBK Sorce Advisory LLC grew its stake in shares of Rite Aid by 77.5% in the second quarter. HBK Sorce Advisory LLC now owns 18,825 shares of the company’s stock worth $141,000 after purchasing an additional 8,220 shares during the last quarter. GSA Capital Partners LLP grew its stake in shares of Rite Aid by 161.4% in the second quarter. GSA Capital Partners LLP now owns 26,376 shares of the company’s stock worth $211,000 after purchasing an additional 16,286 shares during the last quarter. Finally, PARK CIRCLE Co bought a new stake in shares of Rite Aid in the second quarter worth about $400,000. 55.86% of the stock is currently owned by institutional investors.

Rite Aid Company Profile

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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Analyst Recommendations for Rite Aid (NYSE:RAD)

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