Shares of Rite Aid Corp. (NYSE:RAD) have earned a consensus rating of “Hold” from the nine brokerages that are presently covering the company. Six equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $9.17.

A number of analysts have recently weighed in on RAD shares. JPMorgan Chase & Co. reiterated a “hold” rating on shares of Rite Aid Corp. in a research report on Friday, June 17th. Zacks Investment Research cut Rite Aid Corp. from a “hold” rating to a “sell” rating in a research report on Monday, June 20th. Finally, Evercore ISI cut Rite Aid Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, June 1st.

Shares of Rite Aid Corp. (NYSE:RAD) traded up 0.75% during trading on Wednesday, reaching $8.10. The company had a trading volume of 10,039,362 shares. The stock’s 50-day moving average price is $7.61 and its 200-day moving average price is $7.70. The stock has a market capitalization of $8.44 billion, a PE ratio of 60.00 and a beta of 1.78. Rite Aid Corp. has a 12 month low of $5.88 and a 12 month high of $8.74.

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A number of institutional investors have recently modified their holdings of the company. Prudential Financial Inc. raised its position in shares of Rite Aid Corp. by 0.4% in the first quarter. Prudential Financial Inc. now owns 75,894 shares of the company’s stock worth $618,000 after buying an additional 300 shares during the last quarter. Teachers Advisors Inc. raised its position in shares of Rite Aid Corp. by 15.3% in the first quarter. Teachers Advisors Inc. now owns 2,939,604 shares of the company’s stock worth $23,958,000 after buying an additional 390,490 shares during the last quarter. TIAA CREF Investment Management LLC raised its position in shares of Rite Aid Corp. by 6.3% in the first quarter. TIAA CREF Investment Management LLC now owns 3,976,691 shares of the company’s stock worth $32,410,000 after buying an additional 235,365 shares during the last quarter. Ngam Advisors L.P. raised its position in shares of Rite Aid Corp. by 38.3% in the first quarter. Ngam Advisors L.P. now owns 694,778 shares of the company’s stock worth $5,662,000 after buying an additional 192,348 shares during the last quarter. Finally, CQS Cayman LP raised its position in shares of Rite Aid Corp. by 33.6% in the first quarter. CQS Cayman LP now owns 427,500 shares of the company’s stock worth $3,484,000 after buying an additional 107,500 shares during the last quarter. 63.13% of the stock is owned by institutional investors and hedge funds.

Rite Aid Corp. Company Profile

Rite Aid Corporation is a retail drugstore chain. The Company sells prescription drugs and a range of other merchandise, which are referred to as front-end products. The Company’s drugstores’ primary business is pharmacy services. It operates approximately 4,570 stores in 31 states across the country and in the District of Columbia.

5 Day Chart for NYSE:RAD

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