During the last session, Rite Aid Corporation (NYSE:RAD)’s traded shares were 3.39 million, with the beta value of the company hitting 1.11. At the end of the trading day, the stock’s price was $5.38, reflecting an intraday gain of 3.46% or $0.18. The 52-week high for the RAD share is $23.02, that puts it down -327.88 from that peak though still a striking 4.09% gain since the share price plummeted to a 52-week low of $5.16. The company’s market capitalization is $305.91M, and the average trade volume was 4.04 million shares over the past three months.
Rite Aid Corporation (NYSE:RAD) trade information
Rite Aid Corporation (RAD) registered a 3.46% upside in the last session and has traded in the red over the past 5 sessions. The stock spiked 3.46% in intraday trading to $5.38 this Thursday, 05/12/22, hitting a weekly high. The stock’s 5-day price performance is -18.48%, and it has moved by -26.30% in 30 days. Based on these gigs, the overall price performance for the year is -68.45%.
The consensus price target of analysts on Wall Street is $4.67, which implies a decrease of -15.2% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $2.00 and $8.00 respectively. As a result, RAD is trading at a discount of -48.7% off the target high and 62.83% off the low.
Rite Aid Corporation (RAD) estimates and forecasts
Statistics show that Rite Aid Corporation has outperformed its competitors in share price, compared to the industry in which it operates. Rite Aid Corporation (RAD) shares have gone down -60.50% during the last six months, with a year-to-date growth rate more than the industry average at 0.00% against -8.10. Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to grow 28.20% this quarter and then drop -52.60% in the quarter after that. In the rating firms’ projections, revenue will increase 2.50% compared to the previous financial year.
Revenue for the current quarter is expected to be $6.08 billion as predicted by 3 analyst(s). Meanwhile, a consensus of 1 analyst(s) estimates revenue growth to $5.96 billion by the end of May 2022.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -45.89%. While earnings are projected to return -434.10% in 2022, the next five years will return -3.69% per annum.
Rite Aid Corporation is due to release its next quarterly earnings between April 13 and April 18. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
Rite Aid Corporation (NYSE:RAD)’s Major holders
Rite Aid Corporation insiders own 2.72% of total outstanding shares while institutional holders control 58.48%, with the float percentage being 60.12%. Vanguard Group, Inc. (The) is the largest shareholder of the company, while 259 institutions own stock in it. As of Sep 29, 2021, the company held over 5.17 million shares (or 9.27% of all shares), a total value of $73.43 million in shares.
The next largest institutional holding, with 4.8 million shares, is of Blackrock Inc.’s that is approximately 8.60% of outstanding shares. At the market price on Sep 29, 2021, these shares were valued at $68.12 million.
Also, the Mutual Funds coming in first place with the largest holdings of Rite Aid Corporation (RAD) shares are Invesco Global Opportunities Fund and Vanguard Total Stock Market Index Fund. Data provided on Oct 30, 2021 indicates that Invesco Global Opportunities Fund owns about 2.5 million shares. This amounts to just over 4.48 percent of the company’s overall shares, with a $33.98 million market value. The same data shows that the other fund manager holds slightly less at 1.48 million, or about 2.66% of the stock, which is worth about $21.04 million.