In the last trading session, 1,569,407 shares of the Rite Aid Corporation(NYSE:RAD) were traded, and its beta was 0.83. Most recently the company’s share price was $21.87, and it changed around -$0.02 or 0% from the last close, which brings the market valuation of the company to $1.21 Billion. RAD currently trades at a discount to its 52-week high of $32.48, offering almost -48.51% off that amount. The share price’s 52-week low was $8.86, which indicates that the current value has risen by an impressive 59.49% since then. We note from Rite Aid Corporation’s average daily trading volume that its 10-day average is 2.12 Million shares, with the 3-month average coming to 4.49 Million.
Rite Aid Corporation stock received a consensus recommendation rating of Underweight, based on a mean score of 3.4. If we narrow it down even further, the data shows that 2 out of 5 analysts rate the stock as a Sell; another but none rate it as Overweight. Among the rest, 3 recommended RAD as a Hold, whereas none deemed it a Buy, and no one rated it as Underweight. Rite Aid Corporation is expected to report earnings per share of -$0.05 for the current quarter.
Rite Aid Corporation (NYSE:RAD): Trading Information
Although RAD has showed a red trend with a performance of -0.09% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of $25.98 on Friday, Feb 12 increased the stock’s daily price by 15.82%. The company’s shares are currently up 0.38% year-to-date, but still down -0.1527 over the last five days. On the other hand, Rite Aid Corporation (NYSE:RAD) is 0.16% up in the 30-day period. We can see from the shorts that 9.73 Million shares have been sold at a short interest cover period of 2.17 day(s).
The consensus price target as assigned by Wall Street analysts is $17, which translates to bears needing to reduce their stock price by -22.27% from its current value. Analyst projections state that RAD is forecast to be at a low of $14 and a high of $21. In order for the stock price to hit the forecast high, the stock would need to surge -3.98% from its current level, while the stock would need to crash -35.99% from its current level to reach the projected low.
Rite Aid Corporation (RAD) projections and forecasts
Rite Aid Corporation share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen +54.34 percent over the past six months and at a 326.67% annual growth rate that is well above the industry average of 7.8%. Moreover, analysts have decided to roll up on their fiscal year 2021 revenue estimates. The rating firms predict that it will gain +86.5% in revenue this quarter, and will report an increase of 75% in the next quarter. The year-over-year growth rate is expected to be 9.8%, up from the previous year.
Consensus estimates provided by 5 financial analysts predict the company will bring in an average of $5.9 Billion in revenue for the current quarter. 3 analysts expect Rite Aid Corporation to make $6.05 Billion in revenue for the quarter ending May 01, 2021. The company’s sales for the same quarters a year ago were $5.73 Billion and $5.61 Billion respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 3%. Forecasts for the next quarter put sales growth at 7.7%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -17.2%. Rite Aid Corporation earnings are expected to increase by 30.1% in 2021, but the outlook is negative -3.69% per year for the next five years.
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Rite Aid Corporation (NYSE:RAD)’s Biggest Investors
Upon looking at major shareholders, it appears that insiders hold 2.93% of Rite Aid Corporation shares, and 54.89% of them are in the hands of institutional investors. The stock currently has a share float of 56.55%. Rite Aid Corporation stock is held by 247 institutions, with Vanguard Group, Inc. (The) being the largest institutional investor. By Sep 29, 2020, it held 8.93% of the shares, which is about 4.93 Million shares worth $46.82 Million.
Blackrock Inc., with 7.63% or 4.21 Million shares worth $66.67 Million as of Dec 30, 2020, holds the second largest percentage of outstanding shares.