Rite Aid Corporation (RAD) Lowered to “Neutral” at Mizuho

Mizuho lowered shares of Rite Aid Corporation (NYSE:RAD) from a buy rating to a neutral rating in a research report report published on Thursday, July 20th, MarketBeat.com reports. They currently have $2.95 price target on the stock.

RAD has been the subject of a number of other research reports. Zacks Investment Research raised Rite Aid Corporation from a strong sell rating to a hold rating in a research note on Tuesday, May 16th. Guggenheim cut Rite Aid Corporation from a buy rating to a neutral rating in a research note on Tuesday, April 25th. Cowen and Company reaffirmed an outperform rating and set a $4.70 target price on shares of Rite Aid Corporation in a research report on Monday, June 12th. Bank of America Corporation reaffirmed an underperform rating and set a $2.00 target price on shares of Rite Aid Corporation in a research report on Friday, June 30th. Finally, Evercore ISI began coverage on Rite Aid Corporation in a research report on Friday, June 30th. They set an underperform rating and a $2.50 target price on the stock. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Rite Aid Corporation has a consensus rating of Hold and an average target price of $4.53.

Shares of Rite Aid Corporation (RAD) traded down 1.515% during trading on Thursday, hitting $2.275. The company had a trading volume of 15,904,209 shares. The stock has a 50-day moving average of $2.50 and a 200 day moving average of $3.93. The stock’s market capitalization is $2.38 billion. Rite Aid Corporation has a 12-month low of $2.21 and a 12-month high of $8.77.

Rite Aid Corporation (NYSE:RAD) last issued its earnings results on Thursday, June 29th. The company reported ($0.05) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.01) by $0.04. The business had revenue of $7.78 billion during the quarter, compared to the consensus estimate of $8.29 billion. Rite Aid Corporation had a positive return on equity of 0.52% and a negative net margin of 0.21%. The company’s revenue for the quarter was down 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.02 earnings per share. On average, analysts predict that Rite Aid Corporation will post ($0.09) EPS for the current fiscal year.

COPYRIGHT VIOLATION WARNING: This report was first reported by BBNS and is owned by of BBNS. If you are viewing this report on another domain, it was copied illegally and reposted in violation of United States & international trademark and copyright laws. The legal version of this report can be accessed at https://baseballnewssource.com/markets/rite-aid-corporation-rad-rating-lowered-to-neutral-at-mizuho-updated-updated-updated/1251568.html.

Several hedge funds have recently added to or reduced their stakes in the stock. Comerica Bank bought a new stake in Rite Aid Corporation during the fourth quarter worth about $354,000. GSA Capital Partners LLP raised its stake in Rite Aid Corporation by 8.5% in the fourth quarter. GSA Capital Partners LLP now owns 21,801 shares of the company’s stock worth $180,000 after buying an additional 1,703 shares during the last quarter. Hudson Bay Capital Management LP boosted its position in Rite Aid Corporation by 14.3% in the fourth quarter. Hudson Bay Capital Management LP now owns 400,000 shares of the company’s stock valued at $3,296,000 after buying an additional 50,000 shares during the last quarter. Canal Insurance CO boosted its position in Rite Aid Corporation by 50.0% in the fourth quarter. Canal Insurance CO now owns 300,000 shares of the company’s stock valued at $2,472,000 after buying an additional 100,000 shares during the last quarter. Finally, Highbridge Capital Management LLC acquired a new position in Rite Aid Corporation during the fourth quarter valued at approximately $1,030,000. Institutional investors own 54.77% of the company’s stock.

About Rite Aid Corporation

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 Corporation (NYSE:RAD)

Receive News & Ratings for Rite Aid Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rite Aid Corporation and related companies with our FREE daily email newsletter.

 


Latest News

Los Angeles Dodgers Move 50 Games Over .500
Los Angeles Dodgers Move 50 Games Over .500
Miami’s Giancarlo Stanton Sets Marlins Home Run Record
Miami’s Giancarlo Stanton Sets Marlins Home Run Record
Bryce Harper Latest Star to Suffer Injury
Bryce Harper Latest Star to Suffer Injury
Chicago Cubs Must Survive Without Willson Contreras
Chicago Cubs Must Survive Without Willson Contreras
Cleveland Indians Acquire Jay Bruce From New York Mets
Cleveland Indians Acquire Jay Bruce From New York Mets
Injury to CC Sabathia Adds to Yankees’ Concerns
Injury to CC Sabathia Adds to Yankees’ Concerns


Leave a Reply

 
© 2006-2017 BBNS.