Rite Aid Corporation [RAD] Stock trading around $15.08 per share: What’s Next?

Rite Aid Corporation [NYSE: RAD] loss -6.57% on the last trading session, reaching $15.08 price per share at the time. The company report on September 15, 2021 that Rite Aid Partners With CLEAR to Offer Digital Vaccine Card.

Rite Aid (NYSE: RAD) announced a partnership with CLEAR (NYSE: YOU), the secure identity company, to offer Rite Aid customers the ability to access and share their proof of COVID-19 vaccination with CLEAR’s digital vaccine card and Health Pass. Customers vaccinated at any Rite Aid location can supplement their paper vaccination card with a verified digital version accessible on their mobile device.

The secure digital vaccine card can be linked to CLEAR’s Health Pass – a screening solution that has been used by more than 130 organizations to create safer environments, including professional sports leagues, major venues and travel destinations. To create a digital vaccine card, customers vaccinated at Rite Aid will first download and enroll in the free CLEAR app, and then scan their SMART QR code from the email or SMS notification they receive from Rite Aid after receiving a COVID-19 vaccination.

Rite Aid Corporation represents 53.85 million in outstanding shares, while the company has a total market value of $845.99 million with the latest information. RAD stock price has been found in the range of $14.935 to $16.30.

If compared to the average trading volume of 2.25M shares, RAD reached a trading volume of 2737270 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Rite Aid Corporation [RAD]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for RAD shares is $13.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on RAD stock is a recommendation set at 3.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

JP Morgan have made an estimate for Rite Aid Corporation shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on June 25, 2021. While these analysts kept the previous recommendation, Deutsche Bank raised their target price from $17 to $27. The new note on the price target was released on March 25, 2021, representing the official price target for Rite Aid Corporation stock. Previously, the target price had yet another raise to $12, while Deutsche Bank analysts kept a Hold rating on RAD stock.

The Average True Range (ATR) for Rite Aid Corporation is set at 0.80, with the Price to Sales ratio for RAD stock in the period of the last 12 months amounting to 0.03. The Price to Book ratio for the last quarter was 1.34, with the Price to Cash per share for the same quarter was set at 2.11. Price to Free Cash Flow for RAD in the course of the last twelve months was 73.56 with Quick ratio for the last quarter at 0.70.

Trading performance analysis for RAD stock

Rite Aid Corporation [RAD] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -12.17. With this latest performance, RAD shares dropped by -5.99% in over the last four-week period, additionally sinking by -36.93% over the last 6 months – not to mention a rise of 10.31% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for RAD stock in for the last two-week period is set at 34.49, with the RSI for the last a single of trading hit 25.82, and the three-weeks RSI is set at 39.49 for Rite Aid Corporation [RAD]. The present Moving Average for the last 50 days of trading for this stock 15.97, while it was recorded at 16.85 for the last single week of trading, and 18.87 for the last 200 days.

Rite Aid Corporation [RAD]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Rite Aid Corporation [RAD] shares currently have an operating margin of +0.55 and a Gross Margin at +18.57. Rite Aid Corporation’s Net Margin is presently recorded at -0.42.

Return on Total Capital for RAD is now 1.88, given the latest momentum, and Return on Invested Capital for the company is -1.54. Return on Equity for this stock declined to -15.52, with Return on Assets sitting at -0.95. When it comes to the capital structure of this company, Rite Aid Corporation [RAD] has a Total Debt to Total Equity ratio set at 1,045.63. Additionally, RAD Total Debt to Total Capital is recorded at 91.27, with Total Debt to Total Assets ending up at 61.53. Long-Term Debt to Equity for the company is recorded at 960.59, with the Long-Term Debt to Total Capital now at 83.85.

Reflecting on the efficiency of the workforce at the company, Rite Aid Corporation [RAD] managed to generate an average of -$2,001 per employee. Receivables Turnover for the company is 17.49 with a Total Asset Turnover recorded at a value of 2.29.Rite Aid Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.70 and a Current Ratio set at 1.30.

Rite Aid Corporation [RAD]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for RAD. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Rite Aid Corporation go to -3.69%.

An analysis of insider ownership at Rite Aid Corporation [RAD]

There are presently around $466 million, or 58.40% of RAD stock, in the hands of institutional investors. The top three institutional holders of RAD stocks are: VANGUARD GROUP INC with ownership of 5,133,810, which is approximately 0.577% of the company’s market cap and around 2.80% of the total institutional ownership; BLACKROCK INC., holding 4,411,761 shares of the stock with an approximate value of $66.53 million in RAD stocks shares; and INVESCO LTD., currently with $41.08 million in RAD stock with ownership of nearly 0.195% of the company’s market capitalization.

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Positions in Rite Aid Corporation stocks held by institutional investors increased at the end of September and at the time of the September reporting period, where 80 institutional holders increased their position in Rite Aid Corporation [NYSE:RAD] by around 4,890,081 shares. Additionally, 94 investors decreased positions by around 5,994,044 shares, while 58 investors held positions by with 19,992,957 shares. The mentioned changes placed institutional holdings at 30,877,082 shares, according to the latest SEC report filing. RAD stock had 28 new institutional investments in for a total of 615,874 shares, while 44 institutional investors sold positions of 2,819,532 shares during the same period.

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