Rite Aid Corporation (NYSE:RAD)’s traded shares stood at 6.82 million during the last session, with the company’s beta value hitting 1.19. At the close of trading, the stock’s price was $2.82, to imply an increase of 9.73% or $0.25 in intraday trading. The RAD share’s 52-week high remains $11.60, putting it -311.35% down since that peak but still an impressive 14.18% since price per share fell to its 52-week low of $2.42. The company has a valuation of $160.85M, with an average of 3.26 million shares in intraday trading volume over the past 10 days and average of 2.70 million shares over the past 3 months.
Analysts have given a consensus recommendation of a Sell for Rite Aid Corporation (RAD), translating to a mean rating of 4.00. Of 3 analyst(s) looking at the stock, 3 analyst(s) give RAD a Sell rating. 0 of those analysts rate the stock as Overweight while 0 advise Hold as 0 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at -$0.77.
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Rite Aid Corporation (NYSE:RAD) trade information
After registering a 9.73% upside in the last session, Rite Aid Corporation (RAD) has traded red over the past five days. The stock hit a weekly high of 3.40 this Thursday, 03/16/23, jumping 9.73% in its intraday price action. The 5-day price performance for the stock is -14.80%, and -26.75% over 30 days. With these gigs, the year-to-date price performance is -15.57%. Short interest in Rite Aid Corporation (NYSE:RAD) saw shorts transact 10.42 million shares and set a 3.4 days time to cover.
Analysts on Wall Street suggest a consensus price target of $3.00, implying an increase of 6.0% to the stock’s current value. The extremes give us $3.00 and $3.00 for target low and target high price respectively. As such, RAD has been trading -6.38% off suggested target high and -6.38% from its likely low.
Rite Aid Corporation (RAD) estimates and forecasts
Looking at statistics comparing Rite Aid Corporation share performance against respective industry, we note that the company has underperformed competitors. Rite Aid Corporation (RAD) shares are -65.57% down over the last 6 months, with its year-to-date growth rate lower than industry average at -42.38% against -18.50%. Revenue is forecast to grow 52.80% this quarter before jumping 61.70% for the next one. The rating firms project that company’s revenue will shrink -11.90% compared to the previous financial year.
Revenue forecast for the current quarter as set by 2 analysts is $5.7 billion. Meanwhile, for the quarter ending May 2023, a total of 1 analyst(s) estimate revenue growth to $5.71 billion.Earnings reports from the last fiscal year show that sales brought in $6.07 billion and $6.01 billion respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to fall -6.00% before dropping -5.10% in the following quarter.
An assessment of the company’s 5-year growth patterns shows that annual earnings shrunk an estimated -45.89% for the past 5-year period. While 2023 is set for a -434.10% return in earnings, projections for the next 5 years are at -3.69% annually.
Rite Aid Corporation has its next earnings report out between April 12 and April 17. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. Rite Aid Corporation has a forward dividend ratio of 0, with the share yield ticking at 0.00% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.
Rite Aid Corporation (NYSE:RAD)’s Major holders
Rite Aid Corporation insiders hold 3.73% of total outstanding shares, with institutional holders owning 49.58% of the shares at 51.50% float percentage. In total, 49.58% institutions holds shares in the company, led by Blackrock Inc. As of Sep 29, 2022, the company held over 4.14 million shares (or 7.32% of shares), all amounting to roughly $20.49 million.
The next major institution holding the largest number of shares is Vanguard Group, Inc. (The) with 4.03 million shares, or about 7.13% of shares outstanding. As of the market price on Sep 29, 2022, these shares were worth $19.96 million.
We also have Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF as the top two Mutual Funds with the largest holdings of the Rite Aid Corporation (RAD) shares. Going by data provided on Sep 29, 2022, Vanguard Total Stock Market Index Fund holds roughly 1.75 million shares. This is just over 3.10% of the total shares, with a market valuation of $8.68 million. Data from the same date shows that the other fund manager holds a little less at 1.24 million, or 2.19% of the shares, all valued at about 4.13 million.