Economy

The Rite Aid Corporation (RAD) Debt Trading 1.3% Higher

The Rite Aid Corporation (RAD) Debt Trading 1.3% Higher”

Zacks Investment Research upgraded shares of Rite Aid Corporation from a "sell" rating to a "hold" rating in a research report on Monday, February 27th.

A number of institutional investors have recently added to or reduced their stakes in the company. Credit Suisse Group reissued an "outperform" rating and set a $6.50 price objective on shares of Rite Aid Corporation in a research note on Monday, March 20th. Guggenheim lowered Rite Aid Corporation from a "buy" rating to a "neutral" rating in a research note on Tuesday, April 25th. State Street Corp boosted its position in shares of Rite Aid Corporation by 0.9% in the fourth quarter.

A number of other institutional investors have also recently modified their holdings of the company. Its book value per share for the most recent quarter is $0.59 while its price to book ratio for the same period is 5.22, as for as the company's cash per share for the most recent quarter is $0.24, however its price to cash per share ratio for the same period is 13. The average 1-year price target for Rite Aid Corporation (RAD) reveals an average price target of $6.11 per share. Cohen Capital Management Inc. increased its stake in Rite Aid Corporation by 3.4% in the first quarter. Capstone Asset Management Co. increased its stake in Rite Aid Corporation by 7.9% in the first quarter. Market Capitalization if basically the market value of the company's shares outstanding. Johanson Financial Advisors Inc. raised its position in Rite Aid Corporation by 62.2% in the first quarter. Three analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. Cohen Capital Management Inc. now owns 26,978 shares of the company's stock worth $115,000 after buying an additional 875 shares in the last quarter.

Rite Aid Corporation (NYSE:RAD) price is pointing towards neither exit nor entry barriers, according to a technical analysis tool called the Relative Strength Index (RSI). Comerica Bank purchased a new position in shares of Rite Aid Corporation during the fourth quarter valued at about $354,000. Macquarie Group Ltd. raised its position in shares of Rite Aid Corporation by 125.3% in the fourth quarter. State Street Corp now owns 18,968,015 shares of the company's stock valued at $156,302,000 after buying an additional 178,242 shares during the period. Similar statistics are true for the second largest owner, Blackrock Inc., which owns 50,473,198 shares of the stock are valued at $161.01 million. It is meant to chart the current and historical strength or weakness of a stock or market based on the closing prices of a recent trading period.

The stock is now moving with a Negative distance from 200-Day Simple Moving Average of about -49.31% and has no so good Year to Date (YTD) Performance of -62.62% which means the stock is constantly adding to its value from previous fiscal year end price.

Management effectiveness shows return on equity and return on assets for the trailing twelve months at 0.68% and 2.91% respectively.

03/06/2017 - Rite Aid Corporation had its "hold" rating reiterated by analysts at Deutsche Bank. If you are viewing this story on another site, it was illegally stolen and reposted in violation of global copyright and trademark legislation. The original version of this story can be viewed at https://www.themarketsdaily.com/2017/06/24/brokerages-set-rite-aid-corporation-rad-target-price-at-6-21.html.

The consensus recommendation - averaging the work of 6 analysts - of 2.6 for Rite Aid Corporation (NYSE:RAD) points to moderate case. The Company's segments include Retail Pharmacy and Pharmacy Services.

However, big money is on the line for Rite Aid either way.

With these kinds of figures it is worthy to note that Rite Aid Corporation (RAD) has been put into a neutral territory, but there are few other spots to consider. The Company's Retail Pharmacy segment consists of Rite Aid stores, RediClinic and Health Dialog.



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