Rite Aid Co. (NYSE:RAD)’s share price gapped down before the market opened on Friday . The stock had previously closed at $6.08, but opened at $7.62. Rite Aid shares last traded at $7.74, with a volume of 57,943 shares.

RAD has been the topic of several research analyst reports. Evercore ISI reaffirmed a “sell” rating on shares of Rite Aid in a research note on Monday, August 12th. ValuEngine raised shares of Rite Aid from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Finally, Deutsche Bank initiated coverage on shares of Rite Aid in a research note on Thursday. They set a “sell” rating and a $5.00 price objective on the stock. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $13.75.

The stock’s 50-day moving average price is $6.57 and its 200-day moving average price is $5.57. The company has a debt-to-equity ratio of 6.18, a quick ratio of 0.79 and a current ratio of 1.45.

Rite Aid (NYSE:RAD) last announced its earnings results on Wednesday, June 26th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.16). Rite Aid had a negative return on equity of 1.08% and a negative net margin of 3.40%. The company had revenue of $5.37 billion for the quarter, compared to analyst estimates of $5.37 billion. During the same quarter in the previous year, the company posted ($0.20) earnings per share. Research analysts anticipate that Rite Aid Co. will post 0.16 EPS for the current fiscal year.

Several hedge funds have recently made changes to their positions in the company. Leisure Capital Management lifted its position in shares of Rite Aid by 4.5% during the first quarter. Leisure Capital Management now owns 170,443 shares of the company’s stock worth $108,000 after purchasing an additional 7,316 shares in the last quarter. HBK Sorce Advisory LLC lifted its position in shares of Rite Aid by 77.5% during the second quarter. HBK Sorce Advisory LLC now owns 18,825 shares of the company’s stock worth $141,000 after purchasing an additional 8,220 shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of Rite Aid during the second quarter worth approximately $67,000. Comerica Bank lifted its position in shares of Rite Aid by 12.9% during the first quarter. Comerica Bank now owns 73,784 shares of the company’s stock worth $42,000 after purchasing an additional 8,444 shares in the last quarter. Finally, Mark Sheptoff Financial Planning LLC acquired a new position in shares of Rite Aid during the second quarter worth approximately $90,000.

Rite Aid Company Profile (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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