Rite Aid (RAD) Shares Gap Up to $0.72

Rite Aid Co. (NYSE:RAD)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $0.69, but opened at $0.72. Rite Aid shares last traded at $0.70, with a volume of 132137 shares changing hands.

A number of brokerages have issued reports on RAD. Zacks Investment Research cut shares of Rite Aid from a “buy” rating to a “hold” rating in a report on Monday, December 3rd. Loop Capital cut their price target on shares of Rite Aid from $1.35 to $1.00 and set a “hold” rating for the company in a research note on Thursday, December 20th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company. Rite Aid presently has a consensus rating of “Hold” and an average price target of $2.04.

The company has a market cap of $776.02 million, a P/E ratio of -35.60 and a beta of 1.85. The company has a debt-to-equity ratio of 2.35, a quick ratio of 0.90 and a current ratio of 1.59.

Rite Aid (NYSE:RAD) last posted its quarterly earnings data on Wednesday, December 19th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.02. Rite Aid had a net margin of 2.85% and a negative return on equity of 0.94%. The firm had revenue of $5.45 billion for the quarter, compared to the consensus estimate of $5.45 billion. Rite Aid’s quarterly revenue was up 1.8% compared to the same quarter last year. Equities analysts forecast that Rite Aid Co. will post -0.02 earnings per share for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC increased its holdings in shares of Rite Aid by 8.4% during the fourth quarter. Geode Capital Management LLC now owns 11,154,998 shares of the company’s stock valued at $7,901,000 after acquiring an additional 868,486 shares in the last quarter. Norges Bank purchased a new position in Rite Aid in the fourth quarter worth about $6,491,000. HRT Financial LLC purchased a new position in Rite Aid in the fourth quarter worth about $55,000. Legal & General Group Plc lifted its position in shares of Rite Aid by 4.4% during the 4th quarter. Legal & General Group Plc now owns 2,429,210 shares of the company’s stock valued at $1,721,000 after buying an additional 101,474 shares in the last quarter. Finally, Gotham Asset Management LLC purchased a new position in shares of Rite Aid during the 4th quarter valued at about $149,000. Institutional investors and hedge funds own 45.12% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “Rite Aid (RAD) Shares Gap Up to $0.72” was originally published by Markets Daily and is the property of of Markets Daily. If you are viewing this news story on another site, it was illegally copied and republished in violation of US & international copyright and trademark laws. The original version of this news story can be viewed at https://www.themarketsdaily.com/2019/03/14/rite-aid-rad-shares-gap-up-to-0-72.html.

About Rite Aid (NYSE:RAD)

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.

See Also: What is a short straddle?

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.