Stock analysts at Deutsche Bank assumed coverage on shares of Rite Aid (NYSE:RAD) in a research note issued on Monday, MarketBeat reports. The firm set a “hold” rating and a $2.25 price target on the stock. Deutsche Bank’s price target would indicate a potential upside of 19.68% from the company’s current price.

RAD has been the subject of several other reports. Zacks Investment Research upgraded Rite Aid from a “sell” rating to a “hold” rating in a research report on Friday, November 17th. Royal Bank Of Canada set a $2.00 target price on Rite Aid and gave the stock a “hold” rating in a research report on Wednesday, October 25th. Loop Capital restated a “hold” rating and set a $2.00 target price (down from $2.50) on shares of Rite Aid in a research report on Friday, September 29th. Guggenheim restated a “neutral” rating and set a $2.00 target price on shares of Rite Aid in a research report on Monday, October 2nd. Finally, Mizuho set a $2.00 target price on Rite Aid and gave the stock a “hold” rating in a research report on Saturday, October 7th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $3.25.

Shares of Rite Aid (RAD) traded down $0.04 on Monday, hitting $1.88. The company’s stock had a trading volume of 34,156,003 shares, compared to its average volume of 28,098,035. Rite Aid has a 52-week low of $1.38 and a 52-week high of $8.77. The company has a debt-to-equity ratio of 9.71, a quick ratio of 0.77 and a current ratio of 1.74.

Rite Aid (NYSE:RAD) last announced its quarterly earnings results on Thursday, September 28th. The company reported ($0.01) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.01). The company had revenue of $7.68 billion during the quarter, compared to analysts’ expectations of $7.83 billion. Rite Aid had a negative return on equity of 7.51% and a net margin of 0.28%. The firm’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.03 earnings per share. research analysts anticipate that Rite Aid will post -0.1 earnings per share for the current fiscal year.

In other news, Director Myrtle S. Potter sold 28,189 shares of the business’s stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $2.09, for a total value of $58,915.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.29% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Advisor Group Inc. raised its position in Rite Aid by 49.8% during 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 during the last quarter. Smithfield Trust Co. raised its position in Rite Aid by 37.8% during 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 during the last quarter. Pinnacle Associates Ltd. raised its position in Rite Aid by 8.1% during 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 during the last quarter. Verition Fund Management LLC bought a new position in Rite Aid during the 2nd quarter valued at approximately $120,000. Finally, Geneva Advisors LLC raised its position in Rite Aid by 6.5% during the 2nd quarter. Geneva Advisors LLC now owns 43,000 shares of the company’s stock valued at $127,000 after purchasing an additional 2,616 shares during the last quarter. 50.81% of the stock is owned by institutional investors.

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About Rite Aid

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.

Analyst Recommendations for Rite Aid (NYSE:RAD)

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