Rite Aid (RAD) Downgraded by Vetr to Buy

Rite Aid (NYSE:RAD) was downgraded by analysts at Vetr from a “strong-buy” rating to a “buy” rating in a research note issued on Thursday. They currently have a $2.47 price objective on the stock. Vetr‘s price objective points to a potential upside of 3.35% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of Rite Aid from a “hold” rating to a “sell” rating in a report on Tuesday, January 9th. Evercore ISI assumed coverage on shares of Rite Aid in a report on Thursday, January 4th. They issued an “underperform” rating and a $1.50 target price for the company. Deutsche Bank assumed coverage on shares of Rite Aid in a report on Monday, December 4th. They issued a “hold” rating and a $2.25 target price for the company. Royal Bank of Canada set a $2.00 price objective on shares of Rite Aid and gave the stock a “hold” rating in a research note on Wednesday, October 25th. Finally, Mizuho set a $2.00 price objective on shares of Rite Aid and gave the stock a “hold” rating in a research note on Saturday, October 7th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $2.74.

Rite Aid (NYSE:RAD) traded up $0.05 during trading hours on Thursday, hitting $2.39. 58,084,245 shares of the stock were exchanged, compared to its average volume of 27,490,000. Rite Aid has a twelve month low of $1.38 and a twelve month high of $8.77. The firm has a market capitalization of $2,540.00, a price-to-earnings ratio of 21.73 and a beta of 1.83. The company has a current ratio of 0.86, a quick ratio of 0.59 and a debt-to-equity ratio of 3.66.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Advisor Group Inc. raised its holdings in shares of Rite Aid by 49.8% during the second quarter. Advisor Group Inc. now owns 36,518 shares of the company’s stock worth $101,000 after purchasing an additional 12,140 shares during the period. Verition Fund Management LLC acquired a new stake in shares of Rite Aid during the second quarter worth $120,000. Comerica Bank raised its holdings in shares of Rite Aid by 9.2% during the second quarter. Comerica Bank now owns 44,460 shares of the company’s stock worth $111,000 after purchasing an additional 3,753 shares during the period. Fort Pitt Capital Group LLC raised its holdings in shares of Rite Aid by 37.8% during the second quarter. Fort Pitt Capital Group LLC now owns 49,210 shares of the company’s stock worth $145,000 after purchasing an additional 13,500 shares during the period. Finally, MML Investors Services LLC raised its holdings in shares of Rite Aid by 66.3% during the second quarter. MML Investors Services LLC now owns 59,465 shares of the company’s stock worth $175,000 after purchasing an additional 23,700 shares during the period. 50.72% of the stock is currently owned by hedge funds and other institutional investors.

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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.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Rite Aid (NYSE:RAD)

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