In today’s recent session, 0.58 million shares of the Rite Aid Corporation (NYSE:RAD) have been traded, and its beta is 0.92. Most recently the company’s share price was $6.59, and it changed around $0.27 or 4.19% from the last close, which brings the market valuation of the company to $344.44M. RAD at last check was trading at a discount to its 52-week high of $20.45, offering almost -210.32% off that amount. The share price’s 52-week low was $4.68, which indicates that the recent value has risen by an impressive 28.98% since then. We note from Rite Aid Corporation’s average daily trading volume that its 10-day average is 2.94 million shares, with the 3-month average coming to 4.30 million.
Rite Aid Corporation stock received a consensus recommendation rating of a Sell, based on a mean score of 4.00. If we narrow it down even further, the data shows that 3 out of 3 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 0 recommended RAD as a Hold, whereas 0 deemed it a Buy, and 0 rated it as Underweight. Rite Aid Corporation is expected to report earnings per share of -$0.7 for the current quarter.
Rite Aid Corporation (NYSE:RAD) trade information
Instantly RAD has been showing a green trend so far today with a performance of 4.19% on intraday trading today. The performance over the last five days has remained in the green territory. The rise to weekly highs of 6.55 on Tuesday, 06/21/22 decreased the stock’s daily price by -0.61%. The company’s shares are currently down -56.98% year-to-date, but still up 7.12% over the last five days. On the other hand, Rite Aid Corporation (NYSE:RAD) is 11.86% up in the 30-day period. We can see from the shorts that 17.06 million shares have been sold at a short interest cover period of 2.43 day(s).
The consensus price target as assigned by Wall Street analysts is $5.33, which translates to bulls needing to decrease their stock price by -23.64% from its current value. Analyst projections state that RAD is forecast to be at a low of $4.00 and a high of $8.00. In order for the stock price to hit the forecast high, the stock would need to plunge -21.4% from its current level, while the stock would need to crash 39.3% from its current level to reach the projected low.
Rite Aid Corporation (RAD) estimates 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 fallen -47.55 percent over the past six months and at a 0.00% annual growth rate that is well above the industry average of -8.00%. Moreover, analysts have decided to roll up on their fiscal year 2022 revenue estimates. The rating firms predict that it will loss -284.20% in revenue this quarter, and will report a decrease of -22.00% in the next quarter. The year-over-year growth rate is expected to be -6.70%, down from the previous year.
Consensus estimates provided by 2 financial analysts predict the company will bring in an average of $5.75 billion in revenue for the current quarter. 2 analysts expect Rite Aid Corporation to make $5.68 billion in revenue for the quarter ending Aug 2022.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -45.89%. Rite Aid Corporation earnings are expected to increase by -434.10% in 2022, but the outlook is negative -3.69% per year for the next five years.
Rite Aid Corporation’s next quarterly earnings report is expected to be released around April 13 and April 18.
Rite Aid Corporation (NYSE:RAD)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 2.79% of Rite Aid Corporation shares, and 67.98% of them are in the hands of institutional investors. The stock currently has a share float of 69.93%. Rite Aid Corporation stock is held by 260 institutions, with Vanguard Group, Inc. (The) being the largest institutional investor. By Dec 30, 2021, it held 9.51% of the shares, which is about 5.29 million shares worth $77.73 million.
Blackrock Inc., with 8.84% or 4.92 million shares worth $43.03 million as of Mar 30, 2022, holds the second largest percentage of outstanding shares.
Invesco Global Opportunities Fund and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Jan 30, 2022. The former held 2.5 million shares worth $26.52 million, making up 4.49% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 1.48 million shares worth around $21.77 million, which represents about 2.66% of the total shares outstanding.