Traders Buy Large Volume of Put Options on Rite Aid Corp. (RAD)
Shares of Rite Aid Corp. (NYSE:RAD) saw some unusual options trading activity on Wednesday. Traders acquired 12,995 put options on the company, AnalystRatings.Net reports. This represents an increase of 1,055% compared to the typical daily volume of 1,125 put options.
A number of research firms have recently commented on RAD. Analysts at Raymond James raised their price target on shares of Rite Aid Corp. (NYSE:RAD) from $3.50 to $4.00 in a research note to investors on Friday, September 6th. They now have an “outperform” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Rite Aid Corp. (NYSE:RAD) in a research note to investors on Wednesday, July 24th. They now have a $3.00 price target on the stock. Finally, analysts at Goldman Sachs Group Inc. reiterated a “neutral” rating on shares of Rite Aid Corp. (NYSE:RAD) in a research note to investors on Friday, June 21st. They now have a $2.90 price target on the stock.
Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $2.70.
Shares of Rite Aid Corp. (NYSE:RAD) opened at 3.66 on Thursday. Rite Aid Corp. has a 52-week low of $0.95 and a 52-week high of $3.75. The stock has a 50-day moving average of $3.32 and a 200-day moving average of $2.67. The company has a market cap of $3.329 billion and a price-to-earnings ratio of 15.06.
Rite Aid Corp. (NYSE:RAD) last announced its earnings results on Thursday, June 20th. The company reported $0.09 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.09. The company had revenue of $6.30 billion for the quarter, compared to the consensus estimate of $6.27 billion. During the same quarter in the previous year, the company posted ($0.03) earnings per share. The company’s revenue for the quarter was down 2.7% on a year-over-year basis. On average, analysts predict that Rite Aid Corp. will post $0.16 earnings per share for the current fiscal year.
Rite Aid Corporationis a retail drugstore chain in the United States. As of March 3, 2012, the Company operated drugstores in 31 states across the country and in the District of Columbia.
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