Royal Bank Of Canada Initiates Coverage on Rite Aid Corporation (RAD)

Javier Stokes
September 29, 2017

Over the last three months, the shares of the company have changed -38.77% and performed -49.45% over the last six months. Aberdeen Asset Management PLC UK's holdings in Rite Aid Corporation were worth $715,000 at the end of the most recent reporting period.

Institutional investors have also been busy with the stock. Same store sales for the quarter decreased 3.4% over the prior year, consisting of a 4.6% decrease in pharmacy sales and a 0.9% decrease in front-end sales. Smithfield Trust Co. now owns 37,650 shares of the company's stock valued at $111,000 after acquiring an additional 10,330 shares during the period. In terms of volatility, shares have been noted at 3.63% for the week, and 5.05% for the past month. Comerica Bank increased its position in Rite Aid Corporation by 9.2% in the 2nd quarter. Over the past year Company's shares have been trading in the range of $2.21 and $8.77. Polar Asset Management Prtnrs Inc accumulated 366,000 shares or 0.03% of the stock.

Kenneth Mario Garschina decreased its stake in Rite Aid Corp (RAD) by 31.89% based on its latest 2017Q2 regulatory filing with the SEC.

Ack Asset Management Llc increased Allied Motion Technologies (AMOT) stake by 30.9% reported in 2017Q2 SEC filing. The empirical findings suggest that institutional trading as measured by institutional ownership flows prove to be a good gauge of stock returns.

A company's market capitalization does not reflect its entire value, since companies also fund themselves with debt. The company now has a consensus rating of "Hold" and an average target price of $4.08. Zacks Investment Research upgraded shares of Rite Aid Corporation from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 29th. Losses, adjusted for non-recurring gains, were 1 cent per share. Evercore ISI began coverage on shares of Rite Aid Corporation in a research report on Friday, June 30th.

Director, Anderson Joseph B Jr, sold 150,000 common shares of Rite Aid Corporation (RAD) in the open market.

Rite Aid Corporation (RAD) is recuperating from the fall at $2.21, the 52-week low. The stock rose 0.48% or $0.12 reaching $24.96 per share.

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Rite Aid Corp (NYSE:RAD) 52-week high price stands at $8.77 and low price stands at $2.21, its price distance from 52-week high is -73.89% while its distance from 52-week low price is 3.62%.

Revenue during the quarter fell 4.4 percent to $7.68 billion. The Firm has ATR of 0.12 that is explaining range of a day's trading is high-low; ATR expands it to yesterday's closing price if it was outside of current range.

Rite Aid announced on Thursday that it has hired a former Walgreens executive as its new president.

EPS Estimate for the next Quarter is 0. Rite Aid Corporation (RAD) received interesting focus from Active Investors and it has been trading on front line as comparing to it past average volume.

Rite Aid (rad) shares took a big beating on Thursday when the No. 3 US drugstore chain reported weak quarterly results for which it blamed drama around a failed attempt to be bought whole by Walgreens Boots Alliance (wba). The firm's quarterly revenue was down 4.4% compared to the same quarter a year ago.

A number of key analysts, polled by FactSet, shared their views about the current stock momentum. If you are accessing this news story on another domain, it was illegally stolen and republished in violation of U.S. & worldwide trademark & copyright legislation. The correct version of this report can be read at https://stocknewstimes.com/2017/09/28/rite-aid-corporation-rad-releases-quarterly-earnings-results-hits-expectations.html. After $-0.05 actual EPS reported by Rite Aid Corporation for the previous quarter, Wall Street now forecasts -80.00% EPS growth. The Company's segments include Retail Pharmacy and Pharmacy Services.

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