Rite Aid Co. (NYSE:RAD)’s share price was up 0% during trading on Monday . The company traded as high as $1.90 and last traded at $1.90. Approximately 14,837,018 shares changed hands during mid-day trading, a decline of 24% from the average daily volume of 19,535,131 shares. The stock had previously closed at $1.90.
A number of equities analysts recently commented on RAD shares. Mizuho reiterated a “hold” rating on shares of Rite Aid in a research note on Tuesday, April 17th. Zacks Investment Research downgraded Rite Aid from a “buy” rating to a “hold” rating in a research note on Friday, April 13th. Two analysts have rated the stock with a sell rating, six have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Rite Aid has a consensus rating of “Hold” and a consensus target price of $2.33.
The company has a debt-to-equity ratio of 2.11, a quick ratio of 0.85 and a current ratio of 1.37. The firm has a market capitalization of $1.90 billion, a PE ratio of -95.00 and a beta of 1.69.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. OppenheimerFunds Inc. raised its holdings in shares of Rite Aid by 131.0% during the fourth quarter. OppenheimerFunds Inc. now owns 52,907,179 shares of the company’s stock valued at $104,227,000 after buying an additional 30,008,199 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Rite Aid by 21.9% during the first quarter. Franklin Resources Inc. now owns 51,310,675 shares of the company’s stock valued at $86,202,000 after buying an additional 9,213,475 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Rite Aid by 1.9% during the first quarter. BlackRock Inc. now owns 43,767,426 shares of the company’s stock valued at $73,529,000 after buying an additional 813,790 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 holdings in shares of Rite Aid by 14.3% during the first quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 18,806,544 shares of the company’s stock valued at $31,595,000 after buying an additional 2,349,244 shares during the last quarter. Finally, Alpine Associates Management Inc. bought a new stake in shares of Rite Aid during the first quarter valued at approximately $16,818,000. 50.70% 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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