Rite Aid’s (RAD) “Sell” Rating Reiterated at Guggenheim
Guggenheim reissued their sell rating on shares of Rite Aid (NYSE:RAD) in a research note issued to investors on Thursday morning, Briefing.com Automated Import reports.
A number of other research firms have also commented on RAD. Zacks Investment Research lowered Rite Aid from a buy rating to a hold rating in a research report on Tuesday, March 19th. Loop Capital dropped their price target on Rite Aid from $27.00 to $20.00 and set a hold rating on the stock in a research report on Thursday, December 20th. Two equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $38.33.
NYSE:RAD opened at $0.49 on Thursday. Rite Aid has a 1-year low of $0.43 and a 1-year high of $2.12. The company has a debt-to-equity ratio of 2.93, a quick ratio of 0.91 and a current ratio of 1.68.
Rite Aid (NYSE:RAD) last released its quarterly earnings results on Thursday, April 11th. The company reported ($0.20) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.60) by $0.40. The company had revenue of $5.38 billion for the quarter, compared to analyst estimates of $5.56 billion. Rite Aid had a negative return on equity of 1.21% and a negative net margin of 1.95%. During the same quarter last year, the firm posted ($0.20) earnings per share. Equities analysts predict that Rite Aid will post 0.01 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc raised its position in Rite Aid by 2.2% in the 3rd quarter. Vanguard Group Inc now owns 94,321,789 shares of the company’s stock valued at $120,732,000 after buying an additional 2,006,919 shares during the last quarter. Vanguard Group Inc. raised its position in Rite Aid by 2.2% in the 3rd quarter. Vanguard Group Inc. now owns 94,321,789 shares of the company’s stock valued at $120,732,000 after buying an additional 2,006,919 shares during the last quarter. BlackRock Inc. raised its position in Rite Aid by 1.9% in the 4th quarter. BlackRock Inc. now owns 75,443,713 shares of the company’s stock valued at $53,438,000 after buying an additional 1,432,479 shares during the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp raised its position in Rite Aid by 4.7% in the 4th quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 24,451,320 shares of the company’s stock valued at $17,319,000 after buying an additional 1,091,900 shares during the last quarter. Finally, Northern Trust Corp raised its position in Rite Aid by 1.7% in the 4th quarter. Northern Trust Corp now owns 12,436,209 shares of the company’s stock valued at $8,804,000 after buying an additional 207,598 shares during the last quarter. 45.76% of the stock is currently owned by institutional investors.
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.
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