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Block Buying in Rite Aid Corporation (RAD) on Price Weakness

10 March, 2017, 00:18 | Author: Paula Vaughn

This rating was issued on 4/08/16. The firm now has $6.58 price objective on the stock. With the Walgreens Rite Aid merger as a catalyst, that position rose from 10,000 to 56,000 shares in the BNL Portfolio.

Rite Aid Corporation (NYSE:RAD) now has a consensus Price Target of $6.89. RICE right now sits at consensus rating of 1.90 while 13 analysts have advocated the shares as "BUY", 9 calls it an "OUTPERFORM" and 5 suggest "HOLD". There may be various price targets for a stock.

Rite Aid Corporation (NYSE:RAD) belonging to the Retail-Wholesale sector has declined -4.21% and closed its last trading session at $5.01. The company has a market capitalization of $5.70 billion, a P/E ratio of 68.99 and a beta of 1.89. The stock's 52-week range is $4.64 - $8.77. The stock is now trading with a distance of 20-Day Simple Moving Average (SMA20) of -12.24%.

Rite Aid (NYSE:RAD) last announced its quarterly earnings results on Thursday, December 22nd. Analysts are forecasting earnings of $0.03 on a per share basis this quarter.

"As the epidemic continues to grow, as evidenced in the Centers for Disease Control and Prevention recent statistic, 91 people die every day from an opioid overdose in the United States", said Jocelyn Konrad, Rite Aid executive vice president of pharmacy. This appreciation has taken its price 130.45% above the 52-week low. From Sunday, March 26 through Sunday, April 9, 2017, Carnival, the theme of this year's exhibition will transport more than a million spectators into a world of imagination, filled with brilliantly-hued flora expertly landscaped into breathtaking gardens that bring the magic of a traveling roadshow to life.

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EPS growth in past 5 year was 17.60% along with sales growth of 4.00% in the last five years. In my opinion, Walgreens made this offer believing that Rite Aid would turn it down, thereby giving Walgreens Boots Alliance (NASDAQ:WBA) a way out without the PR nightmare. Anyone who considers buying RAD stock must consider and strongly weigh that question. If you are accessing this story on another publication, it was copied illegally and republished in violation of U.S. and global trademark & copyright law. The original version of this piece of content can be read at https://www.thecerbatgem.com/2017/03/07/rite-aid-co-rad-raised-to-strong-buy-at-vetr-inc.html. Norges Bank purchased a new position in Rite Aid during the fourth quarter worth $61,061,000. Westchester Capital Management LLC acquired a new stake in shares of Rite Aid during the second quarter worth approximately $23,459,000. CNH Partners LLC now owns 19,634,002 shares of the company's stock worth $147,059,000 after buying an additional 2,174,367 shares in the last quarter.

If we glance over stock price target, the analysts were fairly in stock's favor assigning high price target of 6.75 and average price target of 6.54. Finally, Two Sigma Advisers LP raised its position in Rite Aid by 277.4% in the third quarter. The number of times the company missed analysts' estimates is 3.

Several hedge funds and other institutional investors have recently bought and sold shares of RAD.

Rite Aid Corporation is a retail drugstore chain.

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