Rite Aid Corp. (NYSE:RAD) SVP Douglas Donley sold 88,700 shares of Rite Aid Corp. stock on the open market in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $5.27, for a total value of $467,449.00. Following the completion of the transaction, the senior vice president now directly owns 81,628 shares of the company’s stock, valued at approximately $430,180. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
A number of research firms have recently commented on RAD. Analysts at Zacks upgraded shares of Rite Aid Corp. from a “neutral” rating to an “outperform” rating in a research note to investors on Thursday, October 10th. They now have a $5.30 price target on the stock. Separately, analysts at Raymond James raised their price target on shares of Rite Aid Corp. from $5.00 to $6.00 in a research note to investors on Tuesday, October 8th. They now have an “outperform” rating on the stock. Finally, analysts at Jefferies Group initiated coverage on shares of Rite Aid Corp. in a research note to investors on Monday, October 7th. They set a “hold” rating and a $5.30 price target on the stock. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $4.44.
Rite Aid Corp. (NYSE:RAD) traded down 0.94% on Monday, hitting $5.25. The stock had a trading volume of 16,216,857 shares. Rite Aid Corp. has a 52-week low of $0.95 and a 52-week high of $5.44. The stock’s 50-day moving average is $4.45 and its 200-day moving average is $3.22. The company has a market cap of $4.810 billion and a price-to-earnings ratio of 16.72.
Rite Aid Corp. (NYSE:RAD) last announced its earnings results on Thursday, September 19th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.07. The company had revenue of $6.30 billion for the quarter, compared to the consensus estimate of $6.27 billion. During the same quarter in the previous year, the company posted ($0.05) earnings per share. The company’s revenue for the quarter was up .8% on a year-over-year basis.
Rite Aid Corporationis a retail drugstore chain in the United States. As of March 3, 2012, the Company operated drugstores in 31 states across the country and in the District of Columbia.
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