Rite Aid (RAD) PT Set at $1.00 by Royal Bank of Canada
A number of other analysts have also recently commented on the stock. Zacks Investment Research upgraded shares of Rite Aid from a sell rating to a hold rating in a research note on Tuesday, September 18th. Goldman Sachs Group assumed coverage on shares of Rite Aid in a report on Thursday, September 6th. They set a sell rating and a $1.00 target price on the stock. Cowen lowered shares of Rite Aid from an outperform rating to a market perform rating and upped their target price for the stock from $2.35 to $6.00 in a report on Monday, August 13th. TheStreet lowered shares of Rite Aid from a c- rating to a d rating in a report on Wednesday, August 8th. Finally, Mizuho reaffirmed a hold rating and set a $2.00 target price on shares of Rite Aid in a report on Thursday, August 9th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a strong buy rating to the company’s stock. Rite Aid presently has a consensus rating of Hold and a consensus price target of $2.25.
Shares of RAD stock opened at $1.24 on Monday. The company has a quick ratio of 0.85, a current ratio of 1.49 and a debt-to-equity ratio of 1.75. Rite Aid has a 12 month low of $1.23 and a 12 month high of $2.55.
A number of institutional investors have recently bought and sold shares of the stock. Northern Trust Corp increased its holdings in Rite Aid by 124.0% during the 2nd quarter. Northern Trust Corp now owns 12,115,100 shares of the company’s stock worth $20,959,000 after acquiring an additional 6,706,701 shares during the period. HRT Financial LLC bought a new position in shares of Rite Aid in the 2nd quarter worth $105,000. Bank of New York Mellon Corp increased its holdings in shares of Rite Aid by 26.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 5,522,163 shares of the company’s stock worth $9,553,000 after buying an additional 1,168,099 shares during the last quarter. HighPoint Advisor Group LLC bought a new position in shares of Rite Aid in the 2nd quarter worth $112,000. Finally, Private Management Group Inc. bought a new position in shares of Rite Aid in the 2nd quarter worth $11,435,000. 55.58% of the stock is currently owned by institutional investors and hedge funds.
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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