Rite Aid (RAD) Lifted to “Strong-Buy” at Vetr

Rite Aid (NYSE:RAD) was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating in a research report issued on Thursday. The brokerage currently has a $2.54 target price on the stock. Vetr‘s price objective would indicate a potential upside of 13.90% from the stock’s current price.

RAD has been the subject of a number of other research reports. Mizuho set a $2.00 price target on shares of Rite Aid and gave the stock a “hold” rating in a research note on Saturday, October 7th. Zacks Investment Research upgraded shares of Rite Aid from a “sell” rating to a “hold” rating in a research note on Friday, November 17th. Deutsche Bank initiated coverage on shares of Rite Aid in a research note on Monday, December 4th. They issued a “hold” rating and a $2.25 price target for the company. 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. Finally, Royal Bank of Canada set a $2.00 price target on shares of Rite Aid and gave the stock a “hold” rating in a research note on Wednesday, October 25th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $2.75.

Shares of Rite Aid (NYSE RAD) remained flat at $$2.23 during trading hours on Thursday. The company’s stock had a trading volume of 14,238,039 shares, compared to its average volume of 25,690,000. The company has a quick ratio of 0.59, a current ratio of 0.86 and a debt-to-equity ratio of 3.66. The firm has a market cap of $2,380.00, a P/E ratio of 20.27 and a beta of 1.83. Rite Aid has a 12 month low of $1.38 and a 12 month high of $7.02.

A number of hedge funds have recently added to or reduced their stakes in RAD. FMR LLC increased its stake in Rite Aid by 204.0% during the second quarter. FMR LLC now owns 29,123,366 shares of the company’s stock valued at $85,914,000 after purchasing an additional 19,542,772 shares during the last quarter. First Trust Advisors LP bought a new stake in Rite Aid during the third quarter valued at $5,050,000. Dimensional Fund Advisors LP increased its stake in Rite Aid by 71.2% during the third quarter. Dimensional Fund Advisors LP now owns 4,745,233 shares of the company’s stock valued at $9,302,000 after purchasing an additional 1,973,023 shares during the last quarter. SG Americas Securities LLC increased its stake in Rite Aid by 173.1% during the fourth quarter. SG Americas Securities LLC now owns 758,070 shares of the company’s stock valued at $1,493,000 after purchasing an additional 1,794,516 shares during the last quarter. Finally, GMT Capital Corp bought a new stake in Rite Aid during the second quarter valued at $3,600,000. Hedge funds and other institutional investors own 50.03% of the company’s stock.

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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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