Rite Aid EVP Unloads $13,550,589 in Stock (RAD)
Rite Aid (NYSE:RAD) EVP Frank Vitrano sold 1,913,925 shares of the company’s stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $7.08, for a total transaction of $13,550,589.00. Following the completion of the sale, the executive vice president now directly owns 1,183,384 shares in the company, valued at approximately $8,378,359. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
A number of analysts have recently weighed in on RAD shares. Analysts at Zacks upgraded shares of Rite Aid from a “hold” rating to a “buy” rating in a research note on Tuesday, April 15th. Separately, analysts at Deutsche Bank raised their price target on shares of Rite Aid from $7.00 to $9.00 in a research note on Monday, April 14th. They now have a “buy” rating on the stock. Finally, analysts at Raymond James raised their price target on shares of Rite Aid from $7.00 to $8.00 in a research note on Friday, April 11th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Rite Aid presently has a consensus rating of “Buy” and an average target price of $7.69.
Shares of Rite Aid (NYSE:RAD) traded down 1.66% on Wednesday, hitting $7.13. 19,770,604 shares of the company’s stock traded hands. Rite Aid has a 52 week low of $2.47 and a 52 week high of $7.39. The stock has a 50-day moving average of $6.68 and a 200-day moving average of $5.8. The company has a market cap of $6.823 billion and a P/E ratio of 32.08.
Rite Aid (NYSE:RAD) last issued its quarterly earnings data on Thursday, April 10th. The company reported $0.10 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.04 by $0.06. The company had revenue of $6.60 billion for the quarter, compared to the consensus estimate of $6.54 billion. During the same quarter in the prior year, the company posted $0.13 earnings per share. The company’s quarterly revenue was up 2.2% on a year-over-year basis. Analysts expect that Rite Aid will post $0.39 EPS for the current fiscal year.
Rite Aid Corporation is a retail drugstore chain in the United States. In the Company’s stores, it sells prescription drugs and a range of other merchandise, which it calls front end products.
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