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The $1.76 Value Of Rite Aid Corporation (NYSE: RAD) Should Not Be Underestimated

During the last session, Rite Aid Corporation (NYSE:RAD)’s traded shares were 2.16 million, with the beta value of the company hitting 1.11. At the end of the trading day, the stock’s price was $1.76, reflecting an intraday loss of -6.88% or -$0.13. The 52-week high for the RAD share is $11.60, that puts it down -559.09 from that peak though still a striking -1.14% loss since the share price plummeted to a 52-week low of $1.78. The company’s market capitalization is $102.77M, and the average intraday trading volume over the past 10 days was 1.88 million shares, and the average trade volume was 2.49 million shares over the past three months.

Rite Aid Corporation (RAD) received a consensus recommendation of a Sell from analysts. That translates to a mean rating of 4.00. RAD has a Sell rating from 3 analyst(s) out of 3 analysts who have looked at this stock. 0 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 0 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$1.46.

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Rite Aid Corporation (NYSE:RAD) trade information

Rite Aid Corporation (RAD) registered a -6.88% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -6.88% in intraday trading to $1.76 this Thursday, 05/25/23, hitting a weekly high. The stock’s 5-day price performance is -14.56%, and it has moved by -18.52% in 30 days. Based on these gigs, the overall price performance for the year is -63.10%. The short interest in Rite Aid Corporation (NYSE:RAD) is 14.76 million shares and it means that shorts have 6.18 day(s) to cover.

The consensus price target of analysts on Wall Street is $1.50, which implies a decrease of -17.33% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $1.00 and $2.00 respectively. As a result, RAD is trading at a discount of -13.64% off the target high and 43.18% off the low.

Rite Aid Corporation (RAD) estimates and forecasts

Statistics show that Rite Aid Corporation has underperformed its competitors in share price, compared to the industry in which it operates. Rite Aid Corporation (RAD) shares have gone down -66.48% during the last six months, with a year-to-date growth rate less than the industry average at -50.78% against -23.90. Yet analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to shrink -143.30% this quarter and then drop -168.30% in the quarter after that. In the rating firms’ projections, revenue will decrease -9.40% compared to the previous financial year.

Revenue for the current quarter is expected to be $5.32 billion as predicted by 2 analyst(s). Meanwhile, a consensus of 2 analyst(s) estimates revenue growth to $5.31 billion by the end of Aug 2023. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $6.01 billion and $5.77 billion respectively. In this case, analysts expect current quarter sales to shrink by -11.50% and then drop by -8.00% in the coming quarter.

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 -37.70% in 2023, the next five years will return -3.69% per annum.

RAD Dividends

Rite Aid Corporation is due to release its next quarterly earnings between June 21 and June 26. 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 3.68% of total outstanding shares while institutional holders control 47.37%, with the float percentage being 49.17%. Blackrock Inc. is the largest shareholder of the company, while 208 institutions own stock in it. As of Mar 30, 2023, the company held over 3.91 million shares (or 6.94% of all shares), a total value of $8.77 million in shares.

The next largest institutional holding, with 3.84 million shares, is of Vanguard Group, Inc. (The)’s that is approximately 6.80% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $8.6 million.

Also, the Mutual Funds coming in first place with the largest holdings of Rite Aid Corporation (RAD) shares are Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF. Data provided on Dec 30, 2022 indicates that Vanguard Total Stock Market Index Fund owns about 1.63 million shares. This amounts to just over 2.88 percent of the company’s overall shares, with a $5.44 million market value. The same data shows that the other fund manager holds slightly less at 1.25 million, or about 2.21% of the stock, which is worth about $4.82 million.

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