The stock of Rite Aid Corporation (NYSE:RAD) is a huge mover today! About 2.61 million shares traded hands. Rite Aid Corporation (NYSE:RAD) has declined 12.55% since April 11, 2016 and is downtrending. It has underperformed by 18.69% the S&P500.
The move comes after 6 months positive chart setup for the $7.88B company. It was reported on Nov, 11 by Barchart.com. We have $9.93 PT which if reached, will make NYSE:RAD worth $3.15B 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. Vetr upgraded the shares of RAD in a report on Friday, August 14 to “Buy” rating. Evercore downgraded Rite Aid Corporation (NYSE:RAD) on Wednesday, January 6 to “Hold” rating. The company was downgraded on Friday, November 13 by JP Morgan. The firm has “Buy” rating by Mizuho given on Thursday, September 17. The firm has “Buy” rating by Bank of America given on Thursday, August 13. The stock has “Neutral” rating given by Goldman Sachs on Thursday, October 29. The firm has “Buy” rating given on Wednesday, August 19 by Vetr. The company was downgraded on Thursday, August 6 by Vetr. The stock has “Neutral” rating given by Credit Suisse on Thursday, October 29. The firm has “Hold” rating by Deutsche Bank given on Friday, April 8.
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 dropped, 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.
Natl Planning holds 0.03% or 49,718 shares in its portfolio. Moreover, Millennium Ltd Llc has 0.04% invested in Rite Aid Corporation (NYSE:RAD) for 2.55M shares. Par Capital Mngmt has 7.34M shares for 0.91% of their US portfolio. Principal accumulated 0.02% or 2.39M shares. Delta Lloyd Nv, a Netherlands-based fund reported 84,210 shares. Moreover, Empyrean Prns Limited Partnership has 1.05% invested in Rite Aid Corporation (NYSE:RAD) for 3.12 million shares. Spirit Of America Management Ny reported 16,000 shares or 0.02% of all its holdings. Apg Asset Mngmt Nv last reported 0.13% of its portfolio in the stock. Perella Weinberg Ptnrs Capital Lp has 106,025 shares for 0.39% of their US portfolio. Seven Eight Limited Liability Company holds 6,000 shares or 0.02% of its portfolio. Valley Advisers owns 50 shares or 0% of their US portfolio. Zurcher Kantonalbank (Zurich Cantonalbank) has 91,505 shares for 0.01% of their US portfolio. Dnb Asset Management As reported 65,791 shares or 0% of all its holdings. Fifth Third National Bank has 5,194 shares for 0% of their US portfolio. Wfg Advsr Limited Partnership holds 12,115 shares or 0.02% of its portfolio.
Insider Transactions: Since June 15, 2016, the stock had 0 buys, and 1 insider sale for $265,161 net activity. On Wednesday, June 15 Donley Douglas E sold $265,161 worth of the stock or 34,106 shares.
More news for Rite Aid Corporation (NYSE:RAD) were recently published by: Fool.com, which released: “Why Rite Aid Corporation Stock Dipped 13% Lower in October” on November 08, 2016. Investorplace.com‘s article titled: “Why Intel Corporation (INTC), Rite Aid Corporation (RAD) and Abbott …” and published on October 19, 2016 is yet another important article.
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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