Shares of Rite Aid Co. (NYSE:RAD) have received a consensus rating of “Hold” from the eleven ratings firms that are currently covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell rating, six have issued a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $3.25.

A number of equities research analysts recently weighed in on the company. Loop Capital restated a “hold” rating and issued a $2.00 price target (down previously from $2.50) on shares of Rite Aid in a research note on Friday, September 29th. Guggenheim restated a “neutral” rating and issued a $2.00 price target on shares of Rite Aid in a research note on Monday, October 2nd. Deutsche Bank assumed coverage on Rite Aid in a research note on Monday, December 4th. They issued a “hold” rating and a $2.25 price target on the stock. Mizuho dropped their price target on Rite Aid from $2.95 to $2.25 and set a “neutral” rating on the stock in a research note on Friday, October 6th. Finally, Royal Bank of Canada assumed coverage on Rite Aid in a research note on Tuesday, September 19th. They issued a “sector perform” rating and a $2.50 price target on the stock.

In other Rite Aid news, Director Myrtle S. Potter sold 28,189 shares of the stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $2.09, for a total transaction of $58,915.01. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.29% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of RAD. Advisor Group Inc. increased 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 worth $101,000 after buying an additional 12,140 shares during the period. Comerica Bank increased its position in Rite Aid by 9.2% during the 2nd quarter. Comerica Bank now owns 44,460 shares of the company’s stock worth $111,000 after buying an additional 3,753 shares during the period. Pinnacle Associates Ltd. increased 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 worth $115,000 after buying an additional 2,900 shares during the period. Verition Fund Management LLC bought a new position in shares of Rite Aid in the second quarter worth $120,000. Finally, Geneva Advisors LLC increased its position in shares of Rite Aid by 6.5% in the second quarter. Geneva Advisors LLC now owns 43,000 shares of the company’s stock worth $127,000 after purchasing an additional 2,616 shares during the period. Hedge funds and other institutional investors own 50.81% of the company’s stock.

Rite Aid (NYSE:RAD) traded down $0.02 on Thursday, reaching $1.81. The company had a trading volume of 14,060,912 shares, compared to its average volume of 27,741,234. Rite Aid has a twelve month low of $1.38 and a twelve month high of $8.77. The company has a current ratio of 1.74, a quick ratio of 0.77 and a debt-to-equity ratio of 9.71.

Rite Aid (NYSE:RAD) last posted its quarterly earnings results on Thursday, September 28th. The company reported ($0.01) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.01). Rite Aid had a negative return on equity of 7.51% and a net margin of 0.28%. The business had revenue of $7.68 billion for the quarter, compared to analysts’ expectations of $7.83 billion. During the same quarter in the prior year, the business earned $0.03 EPS. The firm’s revenue for the quarter was down 4.4% on a year-over-year basis. equities analysts expect that Rite Aid will post -0.1 earnings per share for the current year.

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Rite Aid 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.

Analyst Recommendations for Rite Aid (NYSE:RAD)

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