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Rite Aid Corp. (NYSE:RAD) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a research report issued on Thursday, AnalystRatings.NET reports. They currently have a $5.25 target price on the stock. Zacks‘ price objective suggests a potential upside of 3.75% from the stock’s previous close.

Zacks‘ analyst wrote, “Dismal third-quarter fiscal 2014 performance and trimmed guidance compelled us to downgrade our long-term recommendation on Rite Aid to Neutral. The company’s streak of posting improved quarterly results for six consecutive quarters broke in the last reported results. Moreover citing a possible rise in pharmaceutical costs, lower benefit from new generic drugs (as most of these drugs are included within the company’s portfolio) and persistent reimbursement rate pressure, Rite Aid lowered its current fiscal earnings outlook. However, the company’s sustained focus on expanding pharmacy and clinical services through its Wellness+ customer loyalty program and remodeling of wellness stores look promising. We believe that such measures will enable the company to broaden its customer base and boost its top and bottom-line performance.”

Other equities research analysts have also recently issued reports about the stock. Analysts at Ned Davis Research downgraded shares of Rite Aid Corp. from a “buy” rating to a “neutral” rating in a research note to investors on Monday. Separately, analysts at Deutsche Bank reiterated a “buy” rating on shares of Rite Aid Corp. in a research note to investors on Friday, December 20th. Finally, analysts at Imperial Capital initiated coverage on shares of Rite Aid Corp. in a research note to investors on Thursday, November 21st. They set an “outperform” rating and a $6.50 price target on the stock. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $4.67.

Rite Aid Corp. (NYSE:RAD) traded up 1.38% on Thursday, hitting $5.13. 9,264,862 shares of the company’s stock traded hands. Rite Aid Corp. has a 52 week low of $1.26 and a 52 week high of $6.15. The stock’s 50-day moving average is $5.46 and its 200-day moving average is $4.25. The company has a market cap of $4.817 billion and a price-to-earnings ratio of 17.04.

Rite Aid Corp. (NYSE:RAD) last posted its quarterly earnings results on Thursday, December 19th. The company reported $0.04 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.04. The company had revenue of $6.36 billion for the quarter, compared to the consensus estimate of $6.30 billion. During the same quarter last year, the company posted $0.07 earnings per share. Rite Aid Corp.’s revenue was up 1.9% compared to the same quarter last year. On average, analysts predict that Rite Aid Corp. will post $0.23 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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