Market Runner: What’s in Rite Aid Corporation After Today’s Big Increase?

Market Runner: What's in Rite Aid Corporation After Today's Big Increase?

The stock of Rite Aid Corporation (NYSE:RAD) is a huge mover today! About 2.70 million shares traded hands. Rite Aid Corporation (NYSE:RAD) has declined 8.25% since March 8, 2016 and is downtrending. It has underperformed by 17.57% the S&P500.
The move comes after 5 months positive chart setup for the $7.70B company. It was reported on Oct, 11 by We have $12.05 PT which if reached, will make NYSE:RAD worth $4.85 billion more.

Rite Aid Corporation (NYSE:RAD) Ratings Coverage

Out of 10 analysts covering Rite Aid (NYSE:RAD), 4 rate it a “Buy”, 0 “Sell”, while 6 “Hold”. This means 40% are positive. Rite Aid has been the topic of 13 analyst reports since August 6, 2015 according to StockzIntelligence Inc. The stock of Rite Aid Corporation (NYSE:RAD) has “Buy” rating given on Thursday, September 17 by Mizuho. The firm has “Neutral” rating given on Thursday, October 29 by Goldman Sachs. Vetr upgraded it to “Buy” rating and $10.14 target price in Friday, August 14 report. The company was downgraded on Thursday, October 29 by Credit Suisse. The firm has “Hold” rating given on Friday, April 8 by Deutsche Bank. The firm has “Hold” rating given on Wednesday, January 6 by Evercore. The stock of Rite Aid Corporation (NYSE:RAD) earned “Buy” rating by Vetr on Wednesday, August 19. The firm earned “Neutral” rating on Friday, November 13 by JP Morgan. The rating was downgraded by Vetr to “Buy” on Thursday, August 6. On Thursday, August 13 the stock rating was initiated by Bank of America with “Buy”.

According to Zacks Investment Research, “Rite Aid Corporation is a retail drugstore chain in the United States serving customers in numerous states across the country and in the District of Columbia. It operates stores in the majority of the major U.S. metropolitan markets. The company operates in two business segments: the retail drug segment and the pharmacy benefit management segment.”

Insitutional Activity: The institutional sentiment decreased to 0.88 in Q2 2016. Its down 0.29, from 1.17 in 2016Q1. The ratio fall, as 47 funds sold all Rite Aid Corporation shares owned while 142 reduced positions. 49 funds bought stakes while 117 increased positions. They now own 632.53 million shares or 0.00% more from 632.50 million shares in 2016Q1.
Canal Insur holds 0.49% of its portfolio in Rite Aid Corporation (NYSE:RAD) for 200,000 shares. Ibm Retirement Fund holds 134,627 shares or 0.04% of its portfolio. Rothschild Asset Mngmt Inc, a New York-based fund reported 69,775 shares. Highvista Strategies Limited Liability last reported 2.7% of its portfolio in the stock. The Massachusetts-based Babson Cap Management Ltd Liability Company has invested 0.02% in Rite Aid Corporation (NYSE:RAD). Pittenger & Anderson last reported 0.02% of its portfolio in the stock. Tarbox Gru Inc last reported 93 shares in the company. Moreover, Stifel Corp has 0% invested in Rite Aid Corporation (NYSE:RAD) for 89,640 shares. The New York-based Glazer Cap Llc has invested 0% in Rite Aid Corporation (NYSE:RAD). Andra Ap has 121,900 shares for 0.02% of their US portfolio. Tower Rech Capital Ltd Liability (Trc) holds 5,479 shares or 0% of its portfolio. Grantham Mayo Van Otterloo And Ltd Liability Corp last reported 2.38 million shares in the company. Franklin Res Inc last reported 0.12% of its portfolio in the stock. Blackrock Advsrs Ltd has 0% invested in the company for 580,571 shares. Commerzbank Aktiengesellschaft Fi, a Germany-based fund reported 70,273 shares.

Insider Transactions: Since June 15, 2016, the stock had 0 insider purchases, and 1 insider sale for $265,161 net activity. The insider Donley Douglas E sold $265,161.

More recent Rite Aid Corporation (NYSE:RAD) news were published by: which released: “Rite Aid Brings Back Vote For Your Favorite Pharmacy Team Member Contest” on October 03, 2016. Also published the news titled: “Rite Aid Corporation (NYSE:RAD) Earnings, Comps Decline” on September 22, 2016.‘s news article titled: “Rite Aid Enters Oversold Territory (RAD)” with publication date: October 07, 2016 was also an interesting one.

RAD Company Profile

Rite Aid Corporation, incorporated on April 15, 1968, is a retail drugstore chain. The Company’s divisions include Retail Pharmacy and Pharmacy Services. The Firm operates under The Rite Aid name. It operates approximately 4,560 stores in over 30 states across the country and in the District of Columbia. The Company’s subsidiaries include Envision Insurance Company (EIC), RediClinic and Health Dialog.

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