Shares of Rite Aid Co. (NYSE:RAD) have earned an average rating of “Hold” from the seven ratings firms that are currently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $20.00.
Several research analysts have issued reports on the company. Evercore ISI reiterated a “sell” rating on shares of Rite Aid in a report on Monday, August 12th. ValuEngine upgraded Rite Aid from a “hold” rating to a “buy” rating in a report on Thursday, August 1st.
Large investors have recently made changes to their positions in the business. World Asset Management Inc raised its holdings in shares of Rite Aid by 120.2% during the first quarter. World Asset Management Inc now owns 114,486 shares of the company’s stock worth $73,000 after purchasing an additional 62,505 shares during the last quarter. MetLife Investment Advisors LLC increased its holdings in Rite Aid by 30.2% in the first quarter. MetLife Investment Advisors LLC now owns 479,222 shares of the company’s stock valued at $304,000 after buying an additional 111,199 shares in the last quarter. Rhumbline Advisers increased its holdings in Rite Aid by 1.6% in the first quarter. Rhumbline Advisers now owns 1,586,561 shares of the company’s stock valued at $1,007,000 after buying an additional 25,030 shares in the last quarter. Numen Capital LLP increased its holdings in Rite Aid by 150.0% in the first quarter. Numen Capital LLP now owns 1,000,000 shares of the company’s stock valued at $635,000 after buying an additional 600,000 shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its holdings in Rite Aid by 887.8% in the first quarter. BNP Paribas Arbitrage SA now owns 252,105 shares of the company’s stock valued at $160,000 after buying an additional 226,584 shares in the last quarter.
Rite Aid (NYSE:RAD) last announced its earnings results on Wednesday, June 26th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.16). The business had revenue of $5.37 billion for the quarter, compared to the consensus estimate of $5.37 billion. Rite Aid had a negative net margin of 3.40% and a negative return on equity of 1.08%. During the same quarter in the previous year, the company earned ($0.20) EPS. Equities research analysts anticipate that Rite Aid will post 0.16 EPS for the current year.
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.
Recommended Story: What is the significance of a dead cat bounce?
Receive News & Ratings for Rite Aid Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rite Aid and related companies with MarketBeat.com's FREE daily email newsletter.