Rite Aid Corporation (RAD) Bond Prices Rise 3.3%

20161109_BIZ_WALGREEN

The share price of Rite Aid Corporation (NYSE:RAD) was up +5.20% during the last trading session, with a day high of 2.72. Rite Aid had 18 analyst reports since August 6, 2015 according to SRatingsIntel. Advisor Group Inc. now owns 22,603 shares of the company's stock worth $157,000 after buying an additional 472 shares during the last quarter. Rite Aid Corporation (NYSE:RAD) has declined 55.18% since September 17, 2016 and is downtrending. Moreover, sales remained soft in the quarter. That would make Rite Aid No. 3 after it would sell off almost half of its close to 4,500 stores across the U.S.in the deal with Walgreens. "Estimates have been stable ahead of the company's second quarter earnings release".

Several equities research analysts recently issued reports on RAD shares. Guggenheim reiterated a "neutral" rating on shares of Rite Aid Corporation in a report on Monday, July 3rd.

Analysts have given a mean recommendation of 3.00 on this stock (A rating of less than 2 means buy, "hold" within the 3 range, "sell" within the 4 range, and "strong sell" within the 5 range). Litespeed Management Llc who had been investing in Rite Aid Ord for a number of months, seems to be bullish on the $2.77B market cap company. The stock of Rite Aid Corporation (NYSE:RAD) earned "Neutral" rating by Mizuho on Thursday, July 20. The stock of NXP Semiconductors NV (NASDAQ:NXPI) has "Buy" rating given on Tuesday, September 1 by SunTrust. The stock now has a consensus rating of "Hold" and an average price target of $4.28.

Director, Anderson Joseph B Jr, sold 150,000 common shares of Rite Aid Corporation (RAD) in the open market. Looking at the stock's movement on the chart, Rite Aid Corporation recorded a 52-week high of $8.77. The rating was initiated by Loop Capital Markets with "Hold" on Monday, September 11. Ancora Ltd invested 0.02% in Rite Aid Corporation (NYSE:RAD). The company reported ($0.05) EPS for the quarter, missing the Thomson Reuters' consensus estimate of ($0.01) by ($0.04). Rite Aid Corporation had a negative net margin of 0.21% and a positive return on equity of 0.52%. The company had revenue of $8.60 billion for the quarter. Analysts are forecasting earnings of $0 on a per share basis this quarter. Rite Aid Corporation's revenue for the quarter was down 4.9% compared to the same quarter a year ago. On average, analysts forecast that Rite Aid Corporation will post ($0.10) EPS for the current year. Tyrus Sam holds 1.7% of its portfolio in Rite Aid Corporation (NYSE:RAD) for 824,405 shares. If you are viewing this piece of content on another site, it was illegally stolen and reposted in violation of USA and worldwide copyright and trademark law. The correct version of this piece of content can be read at https://www.truebluetribune.com/2017/09/16/rite-aid-corporation-rad-upgraded-at-zacks-investment-research.html. Nordea Investment Management AB boosted its holdings in shares of Rite Aid Corporation by 24.4% in the first quarter. Howard Hughes Medical Institute's holdings in Rite Aid Corporation were worth $305,000 at the end of the most recent quarter. Company chares are trading at $2.63 quite a bit above the 50 day moving average of $2.36 and which is quite a bit lower than the 200 day moving average of $3.44. Tdam USA Inc. now owns 45,254 shares of the company's stock worth $348,000 after buying an additional 179 shares during the last quarter. Comerica Bank now owns 44,460 shares of the company's stock valued at $111,000 after acquiring an additional 3,753 shares in the last quarter. The Equitec Proprietary Markets Llc holds 2.18M shares with $17.93 million value, up from 1.04M last quarter. Rite Aid Corporation's institutional ownership is 54.7%, while its institutional transactions stand at -10.77%. The Company's divisions include Retail Pharmacy and Pharmacy Services. The Firm operates under The Rite Aid name.

That would leave Rite Aid a distant No. 3 after the sale of nearly half of its roughly 4,500 stores in the United States.

Walgreens' proposed acquisition of about half of Rite Aid's stores could be close to being a done deal.

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