Rite Aid Corp. Sees Unusually High Options Volume (RAD)
Shares of Rite Aid Corp. (NYSE:RAD) was the target of some unusual options trading activity on Friday. Stock traders bought 7,677 put options on the company, American Banking and Market News reports. This represents an increase of approximately 223% compared to the typical volume of 2,374 put options.
RAD has been the subject of a number of recent research reports. Analysts at Zacks downgraded shares of Rite Aid Corp. from an “outperform” rating to a “neutral” rating in a research note to investors on Thursday. They now have a $5.25 price target on the stock. Separately, 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. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of Rite Aid Corp. in a research note to investors on Friday, December 20th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $4.67.
Shares of Rite Aid Corp. (NYSE:RAD) traded up 8.53% on Friday, hitting $5.47. 54,899,908 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 has a 50-day moving average of $5.46 and a 200-day moving average of $4.25. The company has a market cap of $5.136 billion and a P/E ratio of 16.97.
Rite Aid Corp. (NYSE:RAD) last issued its quarterly earnings data 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 in the previous year, the company posted $0.07 earnings per share. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. 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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