Recent Research Analysts’ Ratings Changes for Rite Aid Corporation (RAD)
Rite Aid Corporation (NYSE: RAD) has recently received a number of price target changes and ratings updates:
- 10/7/2017 – Rite Aid Corporation was given a new $2.00 price target on by analysts at Mizuho. They now have a “hold” rating on the stock.
- 10/6/2017 – Rite Aid Corporation had its price target lowered by analysts at Mizuho from $2.95 to $2.25. They now have a “neutral” rating on the stock.
- 10/4/2017 – Rite Aid Corporation was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Rite Aid, which has lagged the broader industry year to date, has had quite an eventful ride of late. The company suffered a huge setback in June, when its merger with Walgreens was terminated. Thereafter, both the entities entered into a new deal, per which Walgreens will buy certain Rite Aid stores and related assets. However, this contract was also amended recently and finally won the FTC’s clearance. Rite Aid posted dismal second quarter-fiscal 2017 results nearly a week after receiving FTC’s nod. The company reported a loss that compared unfavorably with the year-ago earnings figure. Also, sales remained soft, and lower pharmacy reimbursement rates continued to hurt EBITDA margins. Nonetheless, management intends to use funds from the aforementioned deal to reduce debt and improve financial leverage. Further, the pact should make Rite Aid a smaller, yet stronger independent firm with solid control in key markets.”
- 10/2/2017 – Rite Aid Corporation had its “neutral” rating reaffirmed by analysts at Guggenheim. They now have a $2.00 price target on the stock.
- 9/29/2017 – Rite Aid Corporation had its “hold” rating reaffirmed by analysts at Loop Capital. They now have a $2.00 price target on the stock, down previously from $2.50.
- 9/19/2017 – Rite Aid Corporation is now covered by analysts at Royal Bank Of Canada. They set a “sector perform” rating and a $2.50 price target on the stock.
- 9/11/2017 – Rite Aid Corporation is now covered by analysts at Loop Capital. They set a “hold” rating and a $2.50 price target on the stock.
- 8/29/2017 – Rite Aid Corporation was upgraded by analysts at Zacks Investment Research from a “strong sell” rating to a “hold” rating. According to Zacks, “Rite Aid is yet to recover from the setback suffered due to the termination of its merger deal with Walgreens. This along with the company’s negative surprise trend in recent quarters has led the stock to underperform the industry in the last three months. Also, Rite Aid continues to battle lower pharmacy reimbursement rates that hurt margins in first-quarter fiscal 2018. Moreover, sales remained soft in the quarter. However, Rite Aid's all cash deal with Walgreens to sell certain Rite Aid stores and related assets to the latter, looks good. This will help in lowering Rite Aid’s debt and improving financial flexibility, making it a smaller, yet stronger independent firm with solid control in key markets. Further, the company's stringent focus on cost management and strengthening its portfolio of health and wellness services also remain impressive. Estimates have been stable ahead of the company's second quarter earnings release.”
Shares of Rite Aid Corporation (RAD) traded down 4.30% during midday trading on Wednesday, hitting $1.78. 40,172,077 shares of the stock traded hands. The firm’s 50 day moving average price is $2.30 and its 200 day moving average price is $3.07. The company has a market capitalization of $1.87 billion, a PE ratio of 21.19 and a beta of 1.79. Rite Aid Corporation has a 12-month low of $1.75 and a 12-month high of $8.77.
Rite Aid Corporation (NYSE:RAD) last issued its quarterly earnings data on Thursday, September 28th. The company reported ($0.01) EPS for the quarter, meeting analysts’ consensus estimates of ($0.01). Rite Aid Corporation had a negative return on equity of 7.51% and a net margin of 0.28%. The firm had revenue of $7.68 billion for the quarter, compared to analyst estimates of $7.83 billion. During the same period in the prior year, the firm posted $0.03 EPS. The company’s revenue for the quarter was down 4.4% on a year-over-year basis. Analysts expect that Rite Aid Corporation will post $0.92 EPS for the current year.
In other Rite Aid Corporation news, Director Myrtle S. Potter sold 28,189 shares of the company’s stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $2.09, for a total value of $58,915.01. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 2.29% of the company’s stock.
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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