Rite Aid Corp. Target of Unusually High Options Trading (RAD)
Rite Aid Corp. (NYSE:RAD) saw some unusual options trading activity on Thursday. Stock investors acquired 34,362 call options on the stock, ARN reports. This is an increase of 692% compared to the typical daily volume of 4,337 call options.
A number of analysts have recently weighed in on RAD shares. 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 assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $2.70.
Rite Aid Corp. (NYSE:RAD) traded up 23.45% during mid-day trading on Thursday, hitting $4.58. 114,156,080 shares of the company’s stock traded hands. Rite Aid Corp. has a 1-year low of $0.95 and a 1-year high of $3.79. The stock’s 50-day moving average is $3.42 and its 200-day moving average is $2.74. The company has a market cap of $4.166 billion and a price-to-earnings ratio of 15.27.
Rite Aid Corp. (NYSE:RAD) last issued its quarterly earnings data on Thursday, September 19th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.07. 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 prior year, the company posted ($0.05) earnings per share. The company’s quarterly revenue was up .8% on a year-over-year basis. On average, analysts predict that Rite Aid Corp. will post $0.14 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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