Rite Aid (NYSE:RAD) Trading 6.5% Higher
Rite Aid Co. (NYSE:RAD) traded up 6.5% during trading on Friday . The stock traded as high as $9.36 and last traded at $9.13, 4,011,145 shares changed hands during mid-day trading. An increase of 105% from the average session volume of 1,959,221 shares. The stock had previously closed at $8.57.
Several research analysts have recently commented on the company. Deutsche Bank initiated coverage on Rite Aid in a research note on Thursday, September 12th. They issued a “sell” rating and a $5.00 price objective on the stock. Evercore ISI reissued a “sell” rating on shares of Rite Aid in a research note on Monday, August 12th. Finally, ValuEngine downgraded Rite Aid from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Three investment analysts have rated the stock with a sell rating and three have given a hold rating to the stock. Rite Aid has a consensus rating of “Hold” and a consensus price target of $11.67.
The firm has a 50 day moving average of $7.15 and a 200-day moving average of $6.53. The company has a debt-to-equity ratio of 6.87, a quick ratio of 0.84 and a current ratio of 1.53.
A number of institutional investors and hedge funds have recently modified their holdings of RAD. HBK Sorce Advisory LLC grew its holdings in Rite Aid by 77.5% during the 2nd quarter. HBK Sorce Advisory LLC now owns 18,825 shares of the company’s stock valued at $141,000 after buying an additional 8,220 shares in the last quarter. Parallax Volatility Advisers L.P. purchased a new position in Rite Aid during the 2nd quarter valued at approximately $66,000. Point72 Hong Kong Ltd purchased a new position in Rite Aid during the 2nd quarter valued at approximately $67,000. Mark Sheptoff Financial Planning LLC purchased a new position in Rite Aid during the 2nd quarter valued at approximately $90,000. Finally, GSA Capital Partners LLP grew its holdings in Rite Aid by 161.4% during the 2nd quarter. GSA Capital Partners LLP now owns 26,376 shares of the company’s stock valued at $211,000 after buying an additional 16,286 shares in the last quarter. 55.86% of the stock is currently owned by institutional investors.
About Rite Aid (NYSE:RAD)
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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