Rite Aid Corp. (NYSE:RAD) saw a large decline in short interest in September. As of September 15th, there was short interest totalling 24,135,338 shares, a decline of 9.8% from the August 31st total of 26,771,827 shares. Based on an average trading volume of 17,834,575 shares, the days-to-cover ratio is presently 1.4 days. Approximately 2.3% of the shares of the stock are short sold.
Several brokerages recently commented on RAD. Zacks Investment Research lowered shares of Rite Aid Corp. from a “hold” rating to a “sell” rating in a report on Thursday, September 29th. Vetr raised shares of Rite Aid Corp. from a “buy” rating to a “strong-buy” rating in a report on Friday, September 30th. Finally, JPMorgan Chase & Co. reissued a “hold” rating on shares of Rite Aid Corp. in a report on Friday, June 17th. One analyst has rated the stock with a sell rating, five have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Rite Aid Corp. has an average rating of “Hold” and an average price target of $9.11.
Rite Aid Corp. (NYSE:RAD) opened at 7.41 on Friday. Rite Aid Corp. has a 12 month low of $5.98 and a 12 month high of $8.74. The firm has a market cap of $7.74 billion, a PE ratio of 57.44 and a beta of 1.77. The stock’s 50 day moving average is $7.78 and its 200 day moving average is $7.69.
Rite Aid Corp. (NYSE:RAD) last issued its quarterly earnings results on Thursday, September 22nd. The company reported $0.03 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.03. Rite Aid Corp. had a return on equity of 32.41% and a net margin of 0.41%. The firm earned $8 million during the quarter. During the same period in the prior year, the business earned $0.02 earnings per share. Rite Aid Corp.’s revenue for the quarter was up 4.8% compared to the same quarter last year. On average, equities analysts forecast that Rite Aid Corp. will post $0.14 earnings per share for the current year.
Several large investors have recently modified their holdings of RAD. Concorde Asset Management LLC bought a new stake in shares of Rite Aid Corp. during the second quarter valued at $102,000. SevenBridge Financial Group LLC bought a new stake in shares of Rite Aid Corp. during the second quarter valued at $102,000. Mizuho Asset Management Co. Ltd. bought a new stake in shares of Rite Aid Corp. during the second quarter valued at $110,000. Passport Capital LLC acquired a new stake in Rite Aid Corp. during the second quarter worth approximately $110,000. Finally, Buckingham Asset Management LLC acquired a new stake in Rite Aid Corp. during the second quarter worth approximately $121,000. 63.13% of the stock is owned by hedge funds and other institutional investors.
About Rite Aid Corp.
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.
Receive News & Ratings for Rite Aid Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rite Aid Corp. and related companies with MarketBeat.com's FREE daily email newsletter.