Rite Aid Receives Average Recommendation of “Buy” from Analysts (NYSE:RAD)
Rite Aid (NYSE:RAD) has been given a consensus recommendation of “Buy” by the eleven ratings firms that are currently covering the stock, Stock Ratings Network reports. One analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $7.63.
Rite Aid (NYSE:RAD) opened at 7.09 on Friday. Rite Aid has a 52-week low of $2.83 and a 52-week high of $8.62. The stock has a 50-day moving average of $7.35 and a 200-day moving average of $6.79. The company has a market cap of $6.830 billion and a price-to-earnings ratio of 40.92.
Rite Aid (NYSE:RAD) last released its earnings data on Thursday, June 19th. The company reported $0.04 EPS for the quarter, missing the Thomson Reuters 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 prior year, the company posted $0.09 earnings per share. The company’s quarterly revenue was up 2.7% on a year-over-year basis. On average, analysts predict that Rite Aid will post $0.35 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on RAD shares. 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.
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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