Rite Aid (NYSE:RAD) Shares Gap Down to $7.62
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.
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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