Market Analysts see Rite Aid Corporation [RAD] falling to $1. Time to buy?

Rite Aid Corporation [NYSE: RAD] closed the trading session at $4.75 on 10/25/22. The day’s price range saw the stock hit a low of $4.04, while the highest price level was $5.09. The company report on October 17, 2022 that Rite Aid Offers Point-of-Care Testing Throughout Michigan.

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Rite Aid to serve as a one-stop destination for diagnostic testing with strep test and combination COVID-19/flu test.

With flu and respiratory illnesses expected to increase during fall and winter months, Rite Aid (NYSE: RAD) is making diagnostic testing easier for Michigan customers with rapid point-of-care testing now available at all stores throughout the state.

The stocks have a year to date performance of -67.67 percent and weekly performance of 13.37 percent. The stock has been moved at -27.37 percent over the last six months. The stock has performed -26.92 percent around the most recent 30 days and changed -36.16 percent over the most recent 3-months.

If compared to the average trading volume of 2.71M shares, RAD reached to a volume of 4541264 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say 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 $4.00 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 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 0.52, with the Price to Sales ratio for RAD stock in the period of the last 12 months amounting to 0.01.

RAD stock trade performance evaluation

Rite Aid Corporation [RAD] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 13.37. With this latest performance, RAD shares dropped by -26.92% in over the last four-week period, additionally sinking by -27.37% over the last 6 months – not to mention a drop of -66.38% 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 44.53, with the RSI for the last a single of trading hit 51.17, and the three-weeks RSI is set at 42.79 for Rite Aid Corporation [RAD]. The present Moving Average for the last 50 days of trading for this stock 6.51, while it was recorded at 4.23 for the last single week of trading, and 7.81 for the last 200 days.

Rite Aid Corporation [RAD]: An insightful look at the core fundamentals

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.

Earnings per share (EPS) analysis for Rite Aid Corporation [RAD] stock

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%.

Rite Aid Corporation [RAD]: Insider Ownership positions

There are presently around $158 million, or 60.70% 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 3.60% of the total institutional ownership; VANGUARD GROUP INC, holding 3,794,891 shares of the stock with an approximate value of $18.03 million in RAD stocks shares; and INVESCO LTD., currently with $13.4 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 79 institutional holders increased their position in Rite Aid Corporation [NYSE:RAD] by around 6,403,640 shares. Additionally, 85 investors decreased positions by around 10,283,171 shares, while 50 investors held positions by with 16,565,058 shares. The mentioned changes placed institutional holdings at 33,251,869 shares, according to the latest SEC report filing. RAD stock had 29 new institutional investments in for a total of 2,570,986 shares, while 35 institutional investors sold positions of 2,753,415 shares during the same period.


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