The stock of Rite Aid Corporation (NYSE:RAD) is a huge mover today! About 3.99M shares traded hands. Rite Aid Corporation (NYSE:RAD) has declined 5.23% since April 18, 2016 and is downtrending. It has underperformed by 9.66% the S&P500.
The move comes after 7 months positive chart setup for the $7.90B company. It was reported on Nov, 18 by Barchart.com. We have $10.19 PT which if reached, will make NYSE:RAD worth $2.53B 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 has “Neutral” rating given by Goldman Sachs on Thursday, October 29. The rating was upgraded by Vetr to “Buy” on Friday, August 14. The stock has “Buy” rating given by Mizuho on Thursday, September 17. The firm has “Hold” rating given on Wednesday, January 6 by Evercore. The firm has “Neutral” rating by JP Morgan given on Friday, November 13. The stock has “Neutral” rating given by Credit Suisse on Thursday, October 29. The stock of Rite Aid Corporation (NYSE:RAD) earned “Hold” rating by Deutsche Bank on Friday, April 8. Vetr upgraded Rite Aid Corporation (NYSE:RAD) on Wednesday, August 19 to “Buy” rating. The rating was initiated by Bank of America on Thursday, August 13 with “Buy”. The firm has “Buy” rating given on Thursday, August 6 by Vetr.
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 increased to 1.18 in Q2 2016. Its up 0.30, from 0.88 in 2016Q1. The ratio improved, 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.
Pictet Asset Management Limited last reported 368,900 shares in the company. Marshall Wace Ltd Liability Partnership has 0.21% invested in the company for 3.27M shares. Lpl Limited Liability Co has invested 0% of its portfolio in Rite Aid Corporation (NYSE:RAD). Farallon Cap Lc owns 472,022 shares or 0.05% of their US portfolio. Legal And General Gp Public Limited has 0.01% invested in the company for 1.24M shares. Westover Capital Advsrs Ltd Liability Corp reported 22,803 shares or 0.14% of all its holdings. Moreover, Grantham Mayo Van Otterloo And Com Lc has 0.07% invested in Rite Aid Corporation (NYSE:RAD) for 2.38M shares. Amp has 532,505 shares for 0.03% of their US portfolio. Blackrock holds 0.01% of its portfolio in Rite Aid Corporation (NYSE:RAD) for 964,118 shares. Tci Wealth Advsrs holds 0.02% of its portfolio in Rite Aid Corporation (NYSE:RAD) for 3,774 shares. Polar Asset last reported 450,000 shares in the company. Dynamic Cap Mngmt Limited holds 701,738 shares or 0.62% of its portfolio. Concorde Asset Mngmt Ltd Limited Liability Company has 13,600 shares for 0.1% of their US portfolio. Price T Rowe Md last reported 0.02% of its portfolio in the stock. Vanguard Group last reported 0.04% of its portfolio in the stock.
Insider Transactions: Since June 15, 2016, the stock had 0 buys, and 1 insider sale for $265,161 net activity. Donley Douglas E also sold $265,161 worth of Rite Aid Corporation (NYSE:RAD) shares.
More important recent Rite Aid Corporation (NYSE:RAD) news were published by: Fool.com which released: “Why Rite Aid Corporation Stock Dipped 13% Lower in October” on November 08, 2016, also Businesswire.com published article titled: “Rite Aid Customers Can Now Use American Express® Membership Rewards® Points …”, Pennlive.com published: “Ex-Rite Aid VP, businessman, get years in federal prison for multimillion …” on November 16, 2016. More interesting news about Rite Aid Corporation (NYSE:RAD) was released by: Seekingalpha.com and their article: “Likelihood Of A Rite Aid-Walgreens Deal Has Increased” with publication date: November 13, 2016.
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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