Rite Aid Corp. Sets New 1-Year High at $5.33 (RAD)
Rite Aid Corp. (NYSE:RAD) set a new 52-week high during trading hours on Monday, AR Network reports. The company traded as high as $5.33 and last traded at $5.23, with a volume of 24,461,869 shares. The stock had previously closed at $5.19.
Several analysts have recently commented on the stock. Analysts at Credit Suisse raised their price target on shares of Rite Aid Corp. from $5.00 to $6.00 in a research note to investors on Friday. They now have an “outperform” rating on the stock. Separately, analysts at Raymond James reiterated a “buy” rating on shares of Rite Aid Corp. in a research note to investors on Thursday. They now have a $4.00 price target on the stock. Finally, analysts at BTIG Research raised their price target on shares of Rite Aid Corp. to $6.00 in a research note to investors on Thursday. They now have a “buy” rating on the stock. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Rite Aid Corp. presently has an average rating of “Buy” and an average target price of $3.71.
In other Rite Aid Corp. news, EVP Robert Ivan Thompson unloaded 400,000 shares of the stock on the open market in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $4.81, for a total value of $1,924,000.00. Following the completion of the sale, the executive vice president now directly owns 749,882 shares of the company’s stock, valued at approximately $3,606,932. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Rite Aid Corp. has a 52-week low of $0.95 and a 52-week high of $5.30. The stock’s 50-day moving average is $3.97 and its 200-day moving average is $3.00. The company has a market cap of $4.723 billion and a price-to-earnings ratio of 16.37.
Rite Aid Corp. (NYSE:RAD) last issued its quarterly earnings data on Thursday, September 19th. The company reported $0.03 EPS for the quarter, beating the Thomson Reuters 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.
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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