260 institutions hold shares in Rite Aid Corporation (RAD), with 1.69M shares held by insiders accounting for 3.06% while institutional investors hold 60.81% of the company’s shares. The shares outstanding are 53.74M, and float is at 53.53M with Short Float at 14.19%. Institutions hold 58.95% of the Float.
The top institutional shareholder in the company is Vanguard Group, Inc. (The) with over 4.99 million shares valued at $79.02 million. The investor’s holdings represent 9.04% of the RAD Shares outstanding. As of Dec 30, 2020, the second largest holder is Blackrock Inc. with 4.21 million shares valued at $66.67 million to account for 7.63% of the shares outstanding. The other top investors are Invesco Ltd. which holds 2.78 million shares representing 5.04% and valued at over $44.02 million, while Parametric Portfolio Associates holds 3.10% of the shares totaling 1.71 million with a market value of $27.14 million.
Rite Aid Corporation (NYSE: RAD) is 40.11% higher on its value in year-to-date trading and has touched a low of $8.85 and a high of $32.48 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The RAD stock was last observed hovering at around $20.94 in the last trading session, with the day’s gains setting it 1.24% off its average median price target of $17.75 for the next 12 months. It is also 17.85% off the consensus price target high of $27.00 offered by 5 analysts, but current levels are -58.43% lower than the price target low of $14.00 for the same period.
Currently trading at $22.18, the stock is -1.60% and -2.19% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.48 million and changing 5.92% at the moment leaves the stock 37.64% off its SMA200. RAD registered 83.15% gain for a year compared to 6-month gain of 130.80%. The firm has a 50-day simple moving average (SMA 50) of $22.00 and a 200-day simple moving average (SMA200) of $16.82.
The stock witnessed a 13.16% loss in the last 1 month and extending the period to 3 months gives it a 40.11%, and is 17.67% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 6.60% over the week and 7.61% over the month.
Rite Aid Corporation (RAD) has around 50000 employees, a market worth around $1.20B and $23.85B in sales. Fwd P/E is 28.15. Profit margin for the company is -1.70%. Distance from 52-week low is 150.48% and -31.71% from its 52-week high. The company has generated returns on investments over the last 12 months (-6.20%).
Rite Aid Corporation (RAD) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Rite Aid Corporation (RAD) is a “Underweight”. 5 analysts offering their recommendations for the stock have an average rating of 3.40, where 3 rate it as a Hold and 0 think it is a “Overweight”. 0 of the analysts rate the stock as a “Buy”. 2 analysts have rated the stock as a Sell or Underperform.
Rite Aid Corporation is expected to release its quarterly report on 07/01/2021 and quarterly earnings per share for the current quarter are estimated at -$0.55 with sales reaching $5.8B over the same period.The EPS is expected to grow by 30.10% this year, but quarterly earnings will post 9.30% year-over-year. Quarterly sales are estimated to grow 1.40% in year-over-year returns.
Rite Aid Corporation (RAD) Insider Activity
A total of 9 insider transactions have happened at Rite Aid Corporation (RAD) in the last six months, with sales accounting for 8 and purchases happening 1 times.