Rite Aid Corporation [NYSE: RAD] stock went on a downward path that fall over -18.90% on Tuesday, amounting to a one-week price decrease of less than -25.70%. The company report on January 9, 2023 that Rite Aid Corporation Names Elizabeth “Busy” Burr Interim Chief Executive Officer.
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Heyward Donigan Departs from the Company as President and CEO.
Over the last 12 months, RAD stock dropped by -70.77%. The one-year Rite Aid Corporation stock forecast points to a potential upside of 11.33. The average equity rating for RAD stock is currently 4.00, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $151.73 million, with 54.79 million shares outstanding and 54.38 million shares in the current float. Compared to the average trading volume of 2.54M shares, RAD stock reached a trading volume of 9730986 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on 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 $3.00 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 0.25, with the Price to Sales ratio for RAD stock in the period of the last 12 months amounting to 0.01.
RAD Stock Performance Analysis:
Rite Aid Corporation [RAD] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -25.70. With this latest performance, RAD shares dropped by -27.32% in over the last four-week period, additionally sinking by -67.08% over the last 6 months – not to mention a drop of -70.77% 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 21.10, with the RSI for the last a single of trading hit 12.34, and the three-weeks RSI is set at 27.90 for Rite Aid Corporation [RAD]. The present Moving Average for the last 50 days of trading for this stock 3.57, while it was recorded at 3.20 for the last single week of trading, and 5.63 for the last 200 days.
Insight into Rite Aid Corporation Fundamentals:
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.
RAD Stock EPS
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 Position Details
There are presently around $71 million, or 52.30% of RAD stock, in the hands of institutional investors. The top three institutional holders of RAD stocks are: BLACKROCK INC. with ownership of 3,796,184, which is approximately -8.28% of the company’s market cap and around 3.60% of the total institutional ownership; VANGUARD GROUP INC, holding 2,765,172 shares of the stock with an approximate value of $7.36 million in RAD stocks shares; and MILLENNIUM MANAGEMENT LLC, currently with $5.69 million in RAD stock with ownership of nearly 1099.205% of the company’s market capitalization.
Positions in Rite Aid Corporation stocks held by institutional investors increased at the end of Thursday and at the time of the Thursday reporting period, where 68 institutional holders increased their position in Rite Aid Corporation [NYSE:RAD] by around 6,513,023 shares. Additionally, 95 investors decreased positions by around 9,340,013 shares, while 33 investors held positions by with 10,834,605 shares. The mentioned changes placed institutional holdings at 26,687,641 shares, according to the latest SEC report filing. RAD stock had 31 new institutional investments in for a total of 985,864 shares, while 39 institutional investors sold positions of 2,710,569 shares during the same period.