Somewhat Favorable Press Coverage Somewhat Unlikely to Impact Rite Aid Corporation (RAD) Stock Price
Media headlines about Rite Aid Corporation (NYSE:RAD) have trended somewhat positive on Saturday, according to Accern. The research firm ranks the sentiment of press coverage by analyzing more than 20 million blog and news sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Rite Aid Corporation earned a news impact score of 0.13 on Accern’s scale. Accern also assigned press coverage about the company an impact score of 45.5189872487448 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the next few days.
These are some of the media headlines that may have impacted Accern Sentiment Analysis’s scoring:
- First Union National Bank-Chase Manhattan Bank Commercial Mortgage Trust 1999-C2 — Moody’s Upgrades One and Affirms Two Classes of FUNCM 1999-C2 (finance.yahoo.com)
- Amid 550-job expansion, Avadim rolls out product in Rite Aid, other pharmacies nationwide (finance.yahoo.com)
- Investors Buy High Volume of Call Options on Rite Aid Corporation (NYSE:RAD) (americanbankingnews.com)
- Rite Aid Corporation (RAD) Given Consensus Rating of “Hold” by Analysts (americanbankingnews.com)
- Don’t Give Up on Rite Aid Corporation (RAD) Stock Now (investorplace.com)
RAD has been the subject of several recent analyst reports. Guggenheim cut shares of Rite Aid Corporation from a “buy” rating to a “neutral” rating in a report on Tuesday, April 25th. Zacks Investment Research upgraded shares of Rite Aid Corporation from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 16th. Cowen and Company reiterated an “outperform” rating and issued a $4.70 price objective on shares of Rite Aid Corporation in a report on Monday, June 12th. Evercore ISI initiated coverage on shares of Rite Aid Corporation in a report on Friday, June 30th. They issued an “underperform” rating and a $2.50 price objective for the company. Finally, Bank of America Corporation reiterated an “underperform” rating and issued a $2.00 price objective on shares of Rite Aid Corporation in a report on Friday, June 30th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $4.53.
Shares of Rite Aid Corporation (NYSE:RAD) traded up 2.67% during mid-day trading on Friday, reaching $2.31. 14,484,308 shares of the company were exchanged. Rite Aid Corporation has a 12 month low of $2.21 and a 12 month high of $8.77. The stock’s market capitalization is $2.42 billion. The firm has a 50-day moving average price of $2.57 and a 200 day moving average price of $4.03. Rite Aid Corporation also was the recipient of unusually large options trading activity on Wednesday. Traders purchased 24,321 call options on the stock. This is an increase of 239% compared to the typical daily volume of 7,173 call options.
Rite Aid Corporation (NYSE:RAD) last posted its quarterly earnings results on Thursday, June 29th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by $0.04. Rite Aid Corporation had a positive return on equity of 0.52% and a negative net margin of 0.21%. The firm had revenue of $7.78 billion for the quarter, compared to the consensus estimate of $8.29 billion. During the same period last year, the company posted $0.02 earnings per share. The business’s revenue was down 4.9% compared to the same quarter last year. Equities research analysts anticipate that Rite Aid Corporation will post ($0.09) EPS for the current fiscal year.
Rite Aid Corporation 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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