Rite Aid EVP Sells $1,866,881 in Stock (RAD)
Rite Aid (NYSE:RAD) EVP Robert Ivan Thompson unloaded 249,583 shares of the stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $7.48, for a total transaction of $1,866,880.84. Following the transaction, the executive vice president now directly owns 464,794 shares of the company’s stock, valued at approximately $3,476,659. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Several analysts have recently commented on the stock. Analysts at Zacks downgraded shares of Rite Aid from an “outperform” rating to a “neutral” rating in a research note on Wednesday, July 2nd. They now have a $7.50 price target on the stock. Separately, analysts at S&P Equity Research downgraded shares of Rite Aid to a “sell” rating in a research note on Friday, June 6th. Finally, analysts at Goldman Sachs reiterated a “buy” rating on shares of Rite Aid in a research note on Thursday, June 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $7.63.
Rite Aid (NYSE:RAD) traded down 1.19% during mid-day trading on Monday, hitting $7.48. The stock had a trading volume of 33,774,864 shares. Rite Aid has a 1-year low of $2.73 and a 1-year high of $8.62. The stock has a 50-day moving average of $7.59 and a 200-day moving average of $6.64. The company has a market cap of $7.206 billion and a price-to-earnings ratio of 43.26. Rite Aid also saw a large drop in short interest in the month of June. As of June 13th, there was short interest totalling 42,122,715 shares, a drop of 5.8% from the May 30th total of 44,739,815 shares. Currently, 4.4% of the shares of the company are short sold. Based on an average trading volume of 39,351,393 shares, the short-interest ratio is currently 1.1 days.
Rite Aid (NYSE:RAD) last issued its quarterly earnings data on Thursday, June 19th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by $0.01. The company had revenue of $6.47 billion for the quarter, compared to the consensus estimate of $6.43 billion. During the same quarter in the previous year, the company posted $0.09 earnings per share. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. Analysts expect that Rite Aid will post $0.35 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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