Rite Aid Corporation (NYSE:RAD) was the recipient of some unusual options trading activity on Thursday. Stock investors acquired 23,581 call options on the stock. This is an increase of approximately 230% compared to the typical daily volume of 7,147 call options.

RAD has been the topic of several analyst reports. Zacks Investment Research cut shares of Rite Aid Corporation from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 4th. Bank of America Corporation reaffirmed an “underperform” rating and issued a $2.00 target price on shares of Rite Aid Corporation in a report on Friday, June 30th. Cowen and Company reaffirmed an “outperform” rating and issued a $4.70 target price on shares of Rite Aid Corporation in a report on Monday, June 12th. Mizuho cut shares of Rite Aid Corporation from a “buy” rating to a “neutral” rating and set a $2.95 target price on the stock. in a report on Thursday, July 20th. Finally, Evercore ISI initiated coverage on shares of Rite Aid Corporation in a report on Friday, June 30th. They issued an “underperform” rating and a $2.50 target price on the stock. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $4.53.

Several institutional investors and hedge funds have recently made changes to their positions in RAD. Advisor Group Inc. raised its position in shares of Rite Aid Corporation by 49.8% in the 2nd quarter. Advisor Group Inc. now owns 36,518 shares of the company’s stock valued at $101,000 after purchasing an additional 12,140 shares in the last quarter. Capstone Asset Management Co. raised its position in shares of Rite Aid Corporation by 7.9% in the 1st quarter. Capstone Asset Management Co. now owns 25,870 shares of the company’s stock valued at $110,000 after purchasing an additional 1,890 shares in the last quarter. Smithfield Trust Co. raised its position in shares of Rite Aid Corporation by 37.8% in the 2nd quarter. Smithfield Trust Co. now owns 37,650 shares of the company’s stock valued at $111,000 after purchasing an additional 10,330 shares in the last quarter. Comerica Bank raised its position in shares of Rite Aid Corporation by 9.2% in the 2nd quarter. Comerica Bank now owns 44,460 shares of the company’s stock valued at $111,000 after purchasing an additional 3,753 shares in the last quarter. Finally, Pinnacle Associates Ltd. raised its position in shares of Rite Aid Corporation by 8.1% in the 2nd quarter. Pinnacle Associates Ltd. now owns 38,900 shares of the company’s stock valued at $115,000 after purchasing an additional 2,900 shares in the last quarter. 52.63% of the stock is currently owned by institutional investors.

Rite Aid Corporation (NYSE:RAD) opened at 2.50 on Friday. The stock’s market capitalization is $2.62 billion. The firm has a 50-day moving average of $2.35 and a 200 day moving average of $3.56. Rite Aid Corporation has a 52 week low of $2.21 and a 52 week high of $8.77.

Rite Aid Corporation (NYSE:RAD) last released its quarterly earnings results on Thursday, June 29th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.01) by $0.04. Rite Aid Corporation had a positive return on equity of 0.52% and a negative net margin of 0.21%. The company had revenue of $7.78 billion for the quarter, compared to analyst estimates of $8.29 billion. During the same period last year, the firm posted $0.02 earnings per share. The business’s revenue was down 4.9% on a year-over-year basis. On average, analysts anticipate that Rite Aid Corporation will post ($0.09) EPS for the current year.

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Rite Aid Corporation Company Profile

Rite Aid Corporation is a retail drugstore chain. The Company’s segments include Retail Pharmacy and Pharmacy Services. The Company operates under The Rite Aid name. It operates approximately 4,560 stores in over 30 states across the country and in the District of Columbia. The Company’s Retail Pharmacy segment consists of Rite Aid stores, RediClinic and Health Dialog.

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