Vetr upgraded shares of Rite Aid (NYSE:RAD) from a buy rating to a strong-buy rating in a report issued on Thursday. Vetr currently has $2.54 price target on the stock.

Other analysts also recently issued reports about the company. Evercore ISI began coverage on Rite Aid in a research report on Thursday, January 4th. They set an underperform rating and a $1.50 price target for the company. Loop Capital reissued a hold rating and issued a $2.00 target price (down from $2.50) on shares of Rite Aid in a research report on Friday, September 29th. Royal Bank of Canada set a $2.00 target price on Rite Aid and gave the stock a hold rating in a research report on Wednesday, October 25th. Guggenheim reissued a neutral rating and issued a $2.00 target price on shares of Rite Aid in a research report on Monday, October 2nd. Finally, Zacks Investment Research downgraded Rite Aid from a hold rating to a sell rating in a research report on Tuesday, January 9th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Rite Aid has a consensus rating of Hold and an average price target of $2.75.

Shares of Rite Aid (NYSE RAD) opened at $2.23 on Thursday. The company has a current ratio of 0.86, a quick ratio of 0.59 and a debt-to-equity ratio of 3.66. The company has a market capitalization of $2,369.87, a P/E ratio of 14.87 and a beta of 1.83. Rite Aid has a 52-week low of $1.38 and a 52-week high of $7.23.

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Rite Aid by 0.4% in the second quarter. Vanguard Group Inc. now owns 84,788,103 shares of the company’s stock worth $250,125,000 after buying an additional 353,087 shares during the last quarter. FMR LLC increased its position in Rite Aid by 204.0% in the second quarter. FMR LLC now owns 29,123,366 shares of the company’s stock worth $85,914,000 after buying an additional 19,542,772 shares during the last quarter. State of New Jersey Common Pension Fund D increased its position in Rite Aid by 1.7% in the third quarter. State of New Jersey Common Pension Fund D now owns 6,100,000 shares of the company’s stock worth $11,956,000 after buying an additional 100,000 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Rite Aid by 71.2% in the third quarter. Dimensional Fund Advisors LP now owns 4,745,233 shares of the company’s stock worth $9,302,000 after acquiring an additional 1,973,023 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its holdings in shares of Rite Aid by 1.0% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 3,936,136 shares of the company’s stock worth $7,755,000 after acquiring an additional 39,348 shares during the period. 50.03% of the stock is owned by institutional investors and hedge funds.

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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.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Rite Aid (NYSE:RAD)

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