The price of Rite Aid Corporation (NYSE:RAD) shares last traded on Wall Street rose 4.04% to $2.83.
Based on available information, 3 analysts follow Rite Aid Corporation (NYSE:RAD). The consensus rating among analysts is ‘Sell’. As we calculate the median target price by taking the range between a high of $1.00 and a low of $1.00, we find $1.00. Given the previous closing price of $2.72, this indicates a potential downside of -63.24 percent. RAD stock price is now 60.54% away from the 50-day moving average and -8.21% away from the 200-day moving average. The market capitalization of the company currently stands at $153.87M.
Brokers who have rated the stock have averaged $1.00 as their price target over the next twelve months.
With the price target reduced from $16 to $1, Deutsche Bank Downgraded its rating from Hold to Sell for Rite Aid Corporation (NYSE: RAD).
Insiders disposed of 66,170 shares of company stock worth roughly $0.19 million over the past 1 year. A total of 3.60% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in RAD stock. A new stake in Rite Aid Corporation shares was purchased by GMT CAPITAL CORP during the first quarter worth $4,194,000. WALLEYE CAPITAL LLC invested $301,000 in shares of RAD during the first quarter. In the first quarter, POINT72 ASSET MANAGEMENT, L.P. acquired a new stake in Rite Aid Corporation valued at approximately $48,000. STATE OF WYOMING acquired a new stake in RAD for approximately $46,000. DARK FOREST CAPITAL MANAGEMENT LP purchased a new stake in RAD valued at around $44,000 in the second quarter. In total, there are 183 active investors with 52.30% ownership of the company’s stock.
A candlestick chart of Rite Aid Corporation (NYSE: RAD) showed a price of $2.6800 on Tuesday morning. During the past 12 months, Rite Aid Corporation has had a low of $1.42 and a high of $11.60. The fifty day moving average price for RAD is $1.7842 and a two-hundred day moving average price translates $3.0770 for the stock.
The latest earnings results from Rite Aid Corporation (NYSE: RAD) was released for Jun, 2023. According to the Pharmaceutical Retailers Company, earnings per share came in at -$0.73, beating analysts’ expectations of -$1.46 by 0.73. This compares to -$2.03 EPS in the same period last year. The net profit margin was -4.00% and return on equity was 162.50% for RAD. The company reported revenue of $5.65 billion for the quarter, compared to $6.01 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -6.01 percent. For the current quarter, analysts expect RAD to generate $5.56B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 10/25/1999. Investors who held shares on 10/18/1999 were paid a $0.115 dividend.
Rite Aid Corporation(RAD) Company Profile
Rite Aid Corporation, through its subsidiaries, operates a chain of retail drugstores in the United States. The company operates through two segments, Retail Pharmacy and Pharmacy Services. The Retail Pharmacy segment sells prescription drugs and provides various other pharmacy services and an assortment of products comprising over-the-counter medications, health and beauty aids, personal care products, seasonal merchandise, cosmetics, household items, food and beverages, greeting cards, seasonal and seasonal merchandise, pet care, and a variety of other everyday and convenience products, as well as brand and generic prescription drugs; and a private brand product line. It also operates retail pharmacies and clinics; and offers healthcare services, including administering immunizations for COVID-19, the flu, shingles, and others; assists its customers with high blood pressure, cholesterol, and diabetes; provides guidance on combating obesity and tobacco addiction; and educates customers on managing medications and potential side effects. The Pharmacy Services segment provides integrated suite of pharmacy benefit management (PBM) offerings, including technology solutions, mail delivery services, specialty pharmacy, network and rebate administration, claims adjudication, and pharmacy discount programs, as well as drug benefits under the federal government’s Medicare Part D program and insurance offerings for individuals and groups. This segment serves health plans, commercial employers, labor groups, and state and local governments. In addition, it offers its products through online retail site. Rite Aid Corporation was founded in 1962 and is headquartered in Philadelphia, Pennsylvania.
