Rite Aid (NYSE:RAD – Get Rating) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Friday.
Rite Aid Stock Up 7.5 %
NYSE RAD traded up $0.16 on Friday, hitting $2.30. 2,388,536 shares of the stock were exchanged, compared to its average volume of 2,586,239. Rite Aid has a fifty-two week low of $2.05 and a fifty-two week high of $11.60. The company has a market cap of $130.00 million, a PE ratio of -0.14 and a beta of 1.11. The company has a 50-day moving average price of $2.94 and a 200-day moving average price of $3.85.
Rite Aid (NYSE:RAD – Get Rating) last posted its quarterly earnings results on Thursday, April 20th. The company reported ($1.24) EPS for the quarter, missing the consensus estimate of ($0.77) by ($0.47). Rite Aid had a negative return on equity of 260.98% and a negative net margin of 3.73%. The firm had revenue of $6.09 billion for the quarter, compared to analyst estimates of $5.70 billion. During the same quarter last year, the firm earned ($1.63) EPS. The company’s revenue was up .5% on a year-over-year basis. As a group, equities research analysts predict that Rite Aid will post -2.15 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of RAD. Dimensional Fund Advisors LP boosted its holdings in shares of Rite Aid by 72.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,750,144 shares of the company’s stock valued at $15,315,000 after buying an additional 733,923 shares in the last quarter. Two Sigma Investments LP boosted its holdings in shares of Rite Aid by 102.8% in the 4th quarter. Two Sigma Investments LP now owns 1,126,179 shares of the company’s stock valued at $3,761,000 after buying an additional 570,938 shares in the last quarter. Edgestream Partners L.P. acquired a new position in shares of Rite Aid in the 3rd quarter valued at $2,617,000. State Street Corp boosted its holdings in shares of Rite Aid by 26.4% in the 2nd quarter. State Street Corp now owns 2,140,345 shares of the company’s stock valued at $14,426,000 after buying an additional 446,842 shares in the last quarter. Finally, Nuveen Asset Management LLC boosted its holdings in shares of Rite Aid by 177.8% in the 3rd quarter. Nuveen Asset Management LLC now owns 539,703 shares of the company’s stock valued at $2,671,000 after buying an additional 345,455 shares in the last quarter. Institutional investors and hedge funds own 51.76% of the company’s stock.
About Rite Aid
Rite Aid Corp. engages in the ownership and management of retail drug stores. It operates through following segments: Retail Pharmacy and Pharmacy Services. The Retail Pharmacy segment includes branded and generic prescription drugs, health and beauty aids, personal care products, and walk-in retail clinics.