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Rite Aid (NYSE:RAD) was downgraded by research analysts at S&P Equity Research to a “sell” rating in a report released on Friday.

RAD has been the subject of a number of other recent research reports. Analysts at Goldman Sachs reiterated a “buy” rating on shares of Rite Aid in a research note on Thursday. Separately, analysts at Credit Suisse reiterated an “outperform” rating on shares of Rite Aid in a research note on Friday, May 23rd. They now have a $8.50 price target on the stock. Finally, analysts at Zacks reiterated an “outperform” rating on shares of Rite Aid in a research note on Friday, May 2nd. They now have a $8.50 price target on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $7.75.

Shares of Rite Aid (NYSE:RAD) traded down 1.91% on Friday, hitting $7.72. The stock had a trading volume of 45,947,580 shares. Rite Aid has a 1-year low of $2.62 and a 1-year high of $8.62. The stock’s 50-day moving average is $7.71 and its 200-day moving average is $6.. The company has a market cap of $7.499 billion and a P/E ratio of 34.82. Rite Aid also was the recipient of a large growth in short interest during the month of May. As of May 15th, there was short interest totalling 44,412,532 shares, a growth of 7.1% from the April 30th total of 41,474,714 shares. Approximately 4.6% of the shares of the stock are sold short. Based on an average daily volume of 25,236,951 shares, the days-to-cover ratio is currently 1.8 days.

Rite Aid (NYSE:RAD) last announced its earnings results on Thursday, April 10th. The company reported $0.10 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.13 earnings per share. Rite Aid’s revenue was up 2.2% compared to the same quarter last year. Analysts expect that Rite Aid will post $0.37 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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