Stock Traders Buy High Volume of Rite Aid Corp. Put Options (RAD)
Shares of Rite Aid Corp. (NYSE:RAD) saw unusually large options trading activity on Thursday. Investors acquired 12,995 put options on the stock, American Banking and Market News reports. This represents an increase of approximately 646% compared to the average volume of 1,741 put options.
RAD has been the subject of a number of recent research reports. 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 analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $2.70.
Shares of Rite Aid Corp. (NYSE:RAD) traded down 1.52% on Friday, hitting $3.555. The stock had a trading volume of 5,493,049 shares. Rite Aid Corp. has a 1-year low of $0.95 and a 1-year high of $3.75. The stock’s 50-day moving average is $3.34 and its 200-day moving average is $2.67. The company has a market cap of $3.234 billion and a P/E ratio of 14.86.
Rite Aid Corp. (NYSE:RAD) last released its earnings data 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. Analysts expect that Rite Aid Corp. will post $0.16 EPS 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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.