In last trading session, Rite Aid Corporation (NYSE:RAD) saw 2.16 million shares changing hands with its beta currently measuring 1.01. Company’s recent per share price level of $7.08 trading at -$0.49 or -6.47% at ring of the bell on the day assigns it a market valuation of $436.06M. That closing price of RAD’s stock is at a discount of -121.05% from its 52-week high price of $15.65 and is indicating a premium of 33.9% from its 52-week low price of $4.68. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 1.73 million shares which gives us an average trading volume of 2.55 million if we extend that period to 3-months.
For Rite Aid Corporation (RAD), analysts’ consensus is at an average recommendation of a Sell while assigning it a mean rating of 4.00. Splitting up the data highlights that, out of 3 analysts covering the stock, 3 rated the stock as a Sell while 0 recommended an Overweight rating for the stock. 0 suggested the stock as a Hold whereas 0 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of -$0.55 in the current quarter.
Rite Aid Corporation (NYSE:RAD) trade information
Upright in the red during last session for losing -6.47%, in the last five days RAD remained trading in the red while hitting it’s week-highest on Friday, 09/16/22 when the stock touched $7.08 price level, adding 15.21% to its value on the day. Rite Aid Corporation’s shares saw a change of -51.80% in year-to-date performance and have moved -16.41% in past 5-day. Rite Aid Corporation (NYSE:RAD) showed a performance of -5.09% in past 30-days. Number of shares sold short was 11.09 million shares which calculate 3.44 days to cover the short interests.
Wall Street analysts have assigned a consensus price target of $6.33 to the stock, which implies a fall of -11.85% to its current value. Analysts have been projecting $4.00 as a low price target for the stock while placing it at a high target of $8.00. It follows that stock’s current price would drop -12.99% in reaching the projected high whereas dropping to the targeted low would mean a gain of 43.5% for stock’s current value.
Rite Aid Corporation (RAD) estimates and forecasts
Statistics highlight that Rite Aid Corporation is scoring comparatively lower than the scores of other players of the relevant industry. The company lost -26.71% of value to its shares in past 6 months, showing an annual growth rate of -3.97% while that of industry is 1.70. Apart from that, the company came lowering its revenue forecast for fiscal year 2022. The company is estimating its revenue growth to decrease by -34.10% in the current quarter and calculating -213.30% decrease in the next quarter. This year revenue growth is estimated to fall -4.90% from the last financial year’s standing.
2 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $5.77 billion for the same. And 2 analysts are in estimates of company making revenue of $5.86 billion in the next quarter that will end on Nov 2022.
Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of -45.89% during past 5 years. In 2022, company’s earnings growth rate is likely to be around -434.10% while estimates for its earnings growth in next 5 years are of -3.69%.
Rite Aid Corporation is more likely to be releasing its next quarterly report between April 13 and April 18 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.
Rite Aid Corporation (NYSE:RAD)’s Major holders
Insiders are in possession of 2.74% of company’s total shares while institution are holding 65.21 percent of that, with stock having share float percentage of 67.05%. Investors also watch the number of corporate investors in a company very closely, which is 65.21% institutions for Rite Aid Corporation that are currently holding shares of the company. Vanguard Group, Inc. (The) is the top institutional holder at RAD for having 5.62 million shares of worth $49.19 million. And as of Mar 30, 2022, it was holding 10.10% of the company’s outstanding shares.
The second largest institutional holder is Blackrock Inc., which was holding about 4.92 million shares on Mar 30, 2022. The number of shares represents firm’s hold over 8.84% of outstanding shares, having a total worth of $43.03 million.
On the other hand, Invesco Global Opportunities Fund and Vanguard Total Stock Market Index Fund are the top two Mutual Funds which own company’s shares. As of Apr 29, 2022, the former fund manager was holding 2.5 million shares of worth $15.93 million or 4.49% of the total outstanding shares. The later fund manager was in possession of 1.55 million shares on Mar 30, 2022, making its stake of worth around $13.57 million in the company or a holder of 2.79% of company’s stock.