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.
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.
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.
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