Rite Aid Corp. (RAD) to Release Quarterly Earnings on Thursday
Rite Aid Corp. (NYSE:RAD) will be announcing its earnings results on Thursday, September 22nd. Analysts expect the company to announce earnings of $0.03 per share for the quarter.
Shares of Rite Aid Corp. (NYSE:RAD) opened at 8.04 on Wednesday. The stock has a market cap of $8.38 billion, a PE ratio of 59.56 and a beta of 1.78. The firm’s 50-day moving average is $7.61 and its 200 day moving average is $7.70. Rite Aid Corp. has a 12 month low of $5.88 and a 12 month high of $8.74.
A number of large investors have recently made changes to their positions in the company. SevenBridge Financial Group LLC acquired a new stake in shares of Rite Aid Corp. during the second quarter valued at $102,000. Pacer Advisors Inc. boosted its stake in shares of Rite Aid Corp. by 10.5% in the second quarter. Pacer Advisors Inc. now owns 21,452 shares of the company’s stock valued at $161,000 after buying an additional 2,041 shares in the last quarter. Advisor Group Inc. acquired a new stake in shares of Rite Aid Corp. during the second quarter valued at $163,000. K2 Principal Fund L.P. acquired a new stake in shares of Rite Aid Corp. during the second quarter valued at $180,000. Finally, Cubist Systematic Strategies LLC boosted its stake in shares of Rite Aid Corp. by 55.3% in the second quarter. Cubist Systematic Strategies LLC now owns 42,493 shares of the company’s stock valued at $318,000 after buying an additional 15,131 shares in the last quarter. Institutional investors own 63.13% of the company’s stock.
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Several equities analysts have weighed in on the stock. Zacks Investment Research raised shares of Rite Aid Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, August 17th. Evercore ISI downgraded shares of Rite Aid Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, June 1st. Finally, JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of Rite Aid Corp. in a report on Friday, June 17th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Rite Aid Corp. currently has an average rating of “Hold” and an average target price of $9.11.
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.
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