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Rite Aid (NYSE:RAD) has earned an average recommendation of “Buy” from the eleven brokerages that are presently covering the company, AnalystRatings.NET reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $7.75.

Rite Aid (NYSE:RAD) traded down 4.28% on Tuesday, hitting $7.064. The stock had a trading volume of 16,786,476 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 $7.72 and its 200-day moving average is $6.45. The company has a market cap of $6.861 billion and a P/E ratio of 32.65. Rite Aid also was the recipient of a large increase in short interest during the month of May. As of May 15th, there was short interest totalling 44,412,532 shares, an increase of 7.1% from the April 30th total of 41,474,714 shares. Based on an average trading volume of 25,236,951 shares, the short-interest ratio is presently 1.8 days. Currently, 4.6% of the company’s shares are short sold.

Rite Aid (NYSE:RAD) last released its earnings data on Thursday, April 10th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.13 earnings per share. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. Analysts expect that Rite Aid will post $0.35 EPS for the current fiscal year.

RAD has been the subject of a number of recent research reports. Analysts at S&P Equity Research downgraded shares of Rite Aid to a “sell” rating in a research note on Friday. Separately, analysts at Goldman Sachs reiterated a “buy” rating on shares of Rite Aid in a research note on Thursday, June 5th. Finally, 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.

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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