Stock Traders Buy High Volume of Put Options on Rite Aid (RAD)
Rite Aid (NYSE:RAD) was the target of some unusual options trading on Wednesday. Stock investors acquired 8,652 put options on the company, AnalystRatings.Net reports. This represents an increase of approximately 729% compared to the average volume of 1,044 put options.
Several analysts have recently commented on the stock. Analysts at Jefferies Group cut their price target on shares of Rite Aid from $7.50 to $6.50 in a research note on Friday, August 8th. 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, one has given a hold rating and six have given a buy rating to the company’s stock. Rite Aid presently has an average rating of “Buy” and a consensus target price of $7.50.
Shares of Rite Aid (NYSE:RAD) traded down 2.35% during mid-day trading on Wednesday, hitting $6.22. 15,925,459 shares of the company’s stock traded hands. Rite Aid has a 1-year low of $3.46 and a 1-year high of $8.62. The stock has a 50-day moving average of $6.57 and a 200-day moving average of $7.00. The company has a market cap of $5.992 billion and a P/E ratio of 36.82.
Rite Aid (NYSE:RAD) last released its 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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