In the latest trading session, 696,435 Rite Aid Corporation (NYSE:RAD) shares changed hands as the company’s beta touched 0.81. With the company’s most recent per share price at $20.17 changing hands around -$0.5 or -0.02% at last look, the market valuation stands at $1.11 Billion. RAD’s current price is a discount, trading about -61.03% off its 52-week high of $32.48. The share price had its 52-week low at $8.86, which suggests the last value was 56.07% up since then. When we look at Rite Aid Corporation’s average trading volume, we note the 10-day average is 1.26 Million shares, with the 3-month average coming to 2Million.
Analysts gave the Rite Aid Corporation (RAD) stock a consensus recommendation rating of Hold, calculated at a mean rating of 3.2. If we narrow down to specifics, the data shows that 1 out of 5 analysts rate the stock as a Sell, with a further none assigning it an Overweight rating. Of the remaining, 4 recommended RAD as a Hold, none felt it is a Buy and none rated the stock as Underweight. Rite Aid Corporation’s EPS for the current quarter is expected to be $0.32.
Rite Aid Corporation (NYSE:RAD) trade information
Although RAD has turned red as seen in intraday trades today. With action -2.39%, the performance over the past five days has been red. The jump to weekly highs of $21.91 on Wednesday, Jun 16 added 8.76% to the stock’s daily price. The company’s shares are showing year-to-date upside of 0.26%, with the 5-day performance at -0.09% in the red. However, in the 30-day time frame, Rite Aid Corporation (NYSE:RAD) is 0.05% up. Looking at the short shares, we see there were 8.33 Million shares sold at short interest cover period of 4.17 days.
The consensus price target for the stock as assigned by Wall Street analysts is $17.67, meaning bulls need a downside of -12.39% from its recent market value. According to analyst projections, RAD’s forecast low is $14 with $21 as the target high. To hit the forecast high, the stock’s price needs a +4.12% upsurge from its latest level, while the stock would need to tank -30.59% for it to hit the projected low.
Rite Aid Corporation (RAD) estimates and forecasts
Data shows that the Rite Aid Corporation share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot +2.94% over the past 6 months, a 893.33% in annual growth rate that is considerably higher than the industry average of 13%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2021 revenue estimates. The rating firms predict current quarter revenue for Rite Aid Corporation will rise +900%, while the growth in revenue is estimated to hit 32% for the next quarter. Year-over-year growth is forecast to reach 2.3% up from the last financial year.
Consensus estimates given by 2 financial analysts project the company’s revenue in the current quarter to hit an average of $6.19 Billion. 2 analysts are of the opinion that Rite Aid Corporation’s revenue for the quarter ending August 01, 2021 will be $6.11 Billion. The company’s revenue for the corresponding quarter a year ago was $5.61 Billion. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 10.3%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -24.2%. The 2021 estimates are for Rite Aid Corporation earnings to increase by 78.8%, but the outlook for the next 5-year period is at -3.69% per year.
Rite Aid Corporation (NYSE:RAD)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 2.24% of Rite Aid Corporation shares while 60.57% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 61.96%. There are 276 institutions holding the Rite Aid Corporation stock share, with Vanguard Group, Inc. (The) the top institutional holder. As of Mar 30, 2021, the company held 9.26% of the shares, roughly 5.1 Million RAD shares worth $104.43 Million.
Blackrock Inc. holds the second largest percentage of outstanding shares, with 9.08% or 5.01 Million shares worth $102.4 Million as of Mar 30, 2021.
Among Mutual Funds, the top two as of Jan 30, 2021 were Invesco Global Opportunities Fund and Vanguard Total Stock Market Index Fund. With 2500000 shares estimated at $65.73 Million under it, the former controlled 4.54% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 2.64% of the shares, roughly 1.45 Million shares worth around $29.75 Million.