Rite Aid Corporation [NYSE: RAD] loss -28.02% on the last trading session, reaching $5.06 price per share at the time. The company report on September 29, 2022 that Rite Aid Corporation Reports Fiscal 2023 Second Quarter Results.
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Retail Comparable Store Prescriptions Increased 3.1 Percent – Comparable Store Acute Prescriptions, Excluding COVID Immunizations, Increased 5.3 Percent.
Revenues of $5.9 billion, Compared to Prior Year Revenues of $6.1 billion.
Rite Aid Corporation represents 54.35 million in outstanding shares, while the company has a total market value of $284.27 million with the latest information. RAD stock price has been found in the range of $4.865 to $5.99.
If compared to the average trading volume of 2.24M shares, RAD reached a trading volume of 10901094 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 $5.50 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 4.00. 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.
Deutsche Bank have made an estimate for Rite Aid Corporation shares, keeping their opinion on the stock as Sell, with their previous recommendation back on April 07, 2022. While these analysts kept the previous recommendation, JP Morgan dropped their target price from $21 to $12. The new note on the price target was released on June 25, 2021, representing the official price target for Rite Aid Corporation stock. Previously, the target price had yet another raise from $17 to $27, while Deutsche Bank kept a Hold rating on RAD stock.
The Average True Range (ATR) for Rite Aid Corporation is set at 0.69, with the Price to Sales ratio for RAD stock in the period of the last 12 months amounting to 0.01.
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 -28.53. With this latest performance, RAD shares dropped by -36.03% in over the last four-week period, additionally sinking by -45.94% over the last 6 months – not to mention a drop of -64.98% 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 31.46, with the RSI for the last a single of trading hit 25.69, and the three-weeks RSI is set at 35.77 for Rite Aid Corporation [RAD]. The present Moving Average for the last 50 days of trading for this stock 8.01, while it was recorded at 6.43 for the last single week of trading, and 8.64 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 +0.69 and a Gross Margin at +19.83. Rite Aid Corporation’s Net Margin is presently recorded at -2.19.
Return on Equity for this stock declined to -150.79, with Return on Assets sitting at -5.38.
Rite Aid Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.60 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 $169 million, or 61.70% of RAD stock, in the hands of institutional investors. The top three institutional holders of RAD stocks are: BLACKROCK INC. with ownership of 4,604,515, which is approximately -6.375% of the company’s market cap and around 3.70% of the total institutional ownership; VANGUARD GROUP INC, holding 3,794,891 shares of the stock with an approximate value of $19.2 million in RAD stocks shares; and INVESCO LTD., currently with $14.27 million in RAD stock with ownership of nearly 0.836% of the company’s market capitalization.
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 81 institutional holders increased their position in Rite Aid Corporation [NYSE:RAD] by around 6,404,023 shares. Additionally, 86 investors decreased positions by around 10,235,895 shares, while 52 investors held positions by with 16,814,593 shares. The mentioned changes placed institutional holdings at 33,454,511 shares, according to the latest SEC report filing. RAD stock had 30 new institutional investments in for a total of 2,572,675 shares, while 36 institutional investors sold positions of 2,549,741 shares during the same period.