Rite Aid Corporation [RAD] Stock trading around $6.83 per share: What’s Next?

Rite Aid Corporation [NYSE: RAD] jumped around 0.92 points on Tuesday, while shares priced at $6.83 at the close of the session, up 15.57%. The company report on November 4, 2022 that Rite Aid President and CEO Heyward Donigan to Present at Credit Suisse 31st Annual Healthcare Conference.

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Rite Aid (NYSE: RAD) announced today that President and CEO Heyward Donigan and CFO Matt Schroeder will present at the Credit Suisse 31st Annual Healthcare Conference in Rancho Palos Verdes, California, on November 9th at 4:25 p.m. Eastern Time. The presentation can be viewed live via webcast accessible on Rite Aid’s Investor Relations site: https://investors.riteaid.com/overview/default.aspx.

Rite Aid Corporation stock is now -53.51% down from its year-to-date (YTD) trading value. RAD Stock saw the intraday high of $7.37 and lowest of $6.18 per share. The company’s 52-week high price is 15.62, which means current price is +77.86% above from all time high which was touched on 01/05/22.

Compared to the average trading volume of 2.57M shares, RAD reached a trading volume of 4585543 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus 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 0.53, with the Price to Sales ratio for RAD stock in the period of the last 12 months amounting to 0.01.

How has RAD stock performed recently?

Rite Aid Corporation [RAD] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 24.41. With this latest performance, RAD shares gained by 70.75% in over the last four-week period, additionally plugging by 12.71% over the last 6 months – not to mention a drop of -49.93% 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 66.22, with the RSI for the last a single of trading hit 74.01, and the three-weeks RSI is set at 60.01 for Rite Aid Corporation [RAD]. The present Moving Average for the last 50 days of trading for this stock 5.72, while it was recorded at 5.80 for the last single week of trading, and 7.36 for the last 200 days.

Rite Aid Corporation [RAD]: Deeper insight into the 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 analysis for Rite Aid Corporation [RAD]

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%.

Insider trade positions for Rite Aid Corporation [RAD]

There are presently around $201 million, or 58.50% of RAD stock, in the hands of institutional investors. The top three institutional holders of RAD stocks are: BLACKROCK INC. with ownership of 4,138,884, which is approximately -10.112% of the company’s market cap and around 3.60% of the total institutional ownership; VANGUARD GROUP INC, holding 4,031,523 shares of the stock with an approximate value of $27.54 million in RAD stocks shares; and INVESCO LTD., currently with $19.27 million in RAD stock with ownership of nearly 0.066% 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 71 institutional holders increased their position in Rite Aid Corporation [NYSE:RAD] by around 3,349,744 shares. Additionally, 82 investors decreased positions by around 7,337,005 shares, while 45 investors held positions by with 18,788,869 shares. The mentioned changes placed institutional holdings at 29,475,618 shares, according to the latest SEC report filing. RAD stock had 16 new institutional investments in for a total of 1,164,682 shares, while 27 institutional investors sold positions of 1,777,653 shares during the same period.


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