An issue of Rite Aid Co. (NYSE:RAD) debt fell 1.3% against its face value during trading on Wednesday. The high-yield issue of debt has a 7.7% coupon and is set to mature on February 15, 2027. The bonds in the issue are now trading at $84.94 and were trading at $89.50 one week ago. Price moves in a company’s debt in credit markets sometimes predict parallel moves in its stock price.

RAD has been the topic of several analyst reports. Royal Bank Of Canada initiated coverage on shares of Rite Aid in a research note on Tuesday, September 19th. They set a “sector perform” rating and a $2.50 price target on the stock. Loop Capital reaffirmed a “hold” rating and set a $2.00 price target (down from $2.50) on shares of Rite Aid in a research note on Friday, September 29th. Guggenheim reaffirmed a “neutral” rating and set a $2.00 price target on shares of Rite Aid in a research note on Monday, October 2nd. Zacks Investment Research cut shares of Rite Aid from a “hold” rating to a “sell” rating in a research note on Wednesday, October 4th. Finally, Deutsche Bank initiated coverage on shares of Rite Aid in a research note on Monday. They set a “hold” rating and a $2.25 price target on the stock. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Rite Aid currently has a consensus rating of “Hold” and an average target price of $3.25.

Shares of Rite Aid Co. (NYSE RAD) opened at $1.79 on Thursday. Rite Aid Co. has a 12 month low of $1.38 and a 12 month high of $8.77. The company has a debt-to-equity ratio of 9.71, a quick ratio of 0.77 and a current ratio of 1.74.

Rite Aid (NYSE:RAD) last announced its quarterly earnings data on Thursday, September 28th. The company reported ($0.01) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.01). The business had revenue of $7.68 billion for the quarter, compared to analyst estimates of $7.83 billion. Rite Aid had a net margin of 0.28% and a negative return on equity of 7.51%. The company’s revenue was down 4.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.03 EPS. analysts forecast that Rite Aid Co. will post -0.1 earnings per share for the current year.

In other news, Director Myrtle S. Potter sold 28,189 shares of the stock in a transaction dated Tuesday, October 3rd. The shares were sold at an average price of $2.09, for a total transaction of $58,915.01. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 2.29% of the company’s stock.

Several hedge funds have recently made changes to their positions in RAD. Advisor Group Inc. lifted its holdings in shares of Rite Aid by 49.8% during the 2nd quarter. Advisor Group Inc. now owns 36,518 shares of the company’s stock worth $101,000 after acquiring an additional 12,140 shares during the period. Smithfield Trust Co. lifted its holdings in shares of Rite Aid by 37.8% during the 2nd quarter. Smithfield Trust Co. now owns 37,650 shares of the company’s stock worth $111,000 after acquiring an additional 10,330 shares during the period. Comerica Bank raised its holdings in Rite Aid by 9.2% in the second quarter. Comerica Bank now owns 44,460 shares of the company’s stock valued at $111,000 after buying an additional 3,753 shares during the period. Pinnacle Associates Ltd. raised its holdings in Rite Aid by 8.1% in the second quarter. Pinnacle Associates Ltd. now owns 38,900 shares of the company’s stock valued at $115,000 after buying an additional 2,900 shares during the period. Finally, Verition Fund Management LLC purchased a new position in Rite Aid in the second quarter valued at approximately $120,000. Institutional investors and hedge funds own 50.81% of the company’s stock.

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Rite Aid Company Profile

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.

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