November 29, 2016 - By Adrian Mccoy · 0 Comments
Rite Aid Corp (NYSE:RAD) institutional sentiment increased to 1.18 in 2016 Q2. Its up 0.30, from 0.88 in 2016Q1. The ratio improved, as 166 funds increased and opened new equity positions, while 189 cut down and sold their positions in Rite Aid Corp. The funds in our partner’s database now possess: 632.53 million shares, up from 632.50 million shares in 2016Q1. Also, the number of funds holding Rite Aid Corp in their top 10 equity positions increased from 7 to 11 for an increase of 4. Sold All: 47 Reduced: 142 Increased: 117 New Position: 49.
Rite Aid Corporation is a retail drugstore chain. The company has a market cap of $8.22 billion. The Company’s divisions include Retail Pharmacy and Pharmacy Services. It has a 60.66 P/E ratio. The Firm operates under The Rite Aid name.
The stock decreased 1.15% or $0.09 during the last trading session, hitting $7.76. Rite Aid Corporation (NYSE:RAD) has declined 3.72% since April 26, 2016 and is downtrending. It has underperformed by 8.98% the S&P500.
Analysts await Rite Aid Corporation (NYSE:RAD) to report earnings on December, 15. They expect $0.05 earnings per share, down 16.67% or $0.01 from last year’s $0.06 per share. RAD’s profit will be $52.96M for 38.80 P/E if the $0.05 EPS becomes a reality. After $0.03 actual earnings per share reported by Rite Aid Corporation for the previous quarter, Wall Street now forecasts 66.67% EPS growth.
According to Zacks Investment Research, “Rite Aid Corporation is a retail drugstore chain in the United States serving customers in numerous states across the country and in the District of Columbia. It operates stores in the majority of the major U.S. metropolitan markets. The company operates in two business segments: the retail drug segment and the pharmacy benefit management segment.”
Tyrus Capital S.A.M. holds 10.95% of its portfolio in Rite Aid Corporation for 7.26 million shares. Havens Advisors Llc owns 1.51 million shares or 8.61% of their US portfolio. Moreover, Credit Capital Investments Llc has 7.51% invested in the company for 5.32 million shares. The New York-based Litespeed Management L.L.C. has invested 5.28% in the stock. Manikay Partners Llc, a New York-based fund reported 7.45 million shares.#img1#
Insider Transactions: Since January 1, 0001, the stock had 0 insider buys, and 1 sale for $265,161 net activity.
Ratings analysis reveals 40% of Rite Aid’s analysts are positive. Out of 10 Wall Street analysts rating Rite Aid, 4 give it “Buy”, 0 “Sell” rating, while 6 recommend “Hold”. The lowest target is $9 while the high is $11. The stock’s average target of $9.83 is 26.68% above today’s ($7.76) share price. RAD was included in 13 notes of analysts from August 6, 2015. The firm has “Neutral” rating by Goldman Sachs given on Thursday, October 29. Credit Suisse downgraded Rite Aid Corporation (NYSE:RAD) on Thursday, October 29 to “Neutral” rating. As per Wednesday, January 6, the company rating was downgraded by Evercore. Vetr upgraded Rite Aid Corporation (NYSE:RAD) rating on Friday, August 14. Vetr has “Buy” rating and $10.14 price target. The company was initiated on Thursday, August 13 by Bank of America. On Wednesday, August 19 the stock rating was upgraded by Vetr to “Buy”. The stock of Rite Aid Corporation (NYSE:RAD) earned “Buy” rating by Mizuho on Thursday, September 17. The firm earned “Neutral” rating on Friday, November 13 by JP Morgan. The rating was downgraded by Vetr on Thursday, August 6 to “Buy”. As per Friday, April 8, the company rating was downgraded by Deutsche Bank.
Rite Aid Corporation, incorporated on April 15, 1968, is a retail drugstore chain. The Company’s divisions include Retail Pharmacy and Pharmacy Services. The Firm 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 subsidiaries include Envision Insurance Company (EIC), RediClinic and Health Dialog.
More news for Rite Aid Corporation (NYSE:RAD) were recently published by: Fool.com, which released: “Why Rite Aid Corporation Stock Dipped 13% Lower in October” on November 08, 2016. Businesswire.com‘s article titled: “Rite Aid Presents Black Friday Shoppers With Lowest Offers of the Year” and published on November 21, 2016 is yet another important article.
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By Adrian Mccoy