Rite Aid Corp. (NYSE:RAD) was down 1.2% on Thursday . The company traded as low as $7.26 and last traded at $7.32, with a volume of 7,550,708 shares. The stock had previously closed at $7.41.

A number of equities research analysts have recently weighed in on RAD shares. Zacks Investment Research downgraded Rite Aid Corp. from a “hold” rating to a “sell” rating in a research report on Monday, April 11th. Vetr downgraded Rite Aid Corp. from a “strong-buy” rating to a “buy” rating and set a $9.03 price objective for the company. in a report on Monday, May 9th. Evercore ISI downgraded Rite Aid Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, June 1st. Credit Suisse Group AG reiterated an “outperform” rating and issued a $9.00 price objective on shares of Rite Aid Corp. in a report on Tuesday, March 15th. Finally, JPMorgan Chase & Co. reiterated a “hold” rating on shares of Rite Aid Corp. in a report on Friday, June 17th. One analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $9.34.

The firm has a 50-day moving average of $7.67 and a 200-day moving average of $7.87. The stock has a market capitalization of $7.60 billion and a P/E ratio of 54.00.

Rite Aid Corp. (NYSE:RAD) last released its quarterly earnings data on Thursday, June 16th. The company reported $0.01 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by $0.04. During the same quarter in the prior year, the business posted $0.02 EPS. The company earned $8.18 billion during the quarter. The business’s revenue for the quarter was up 23.1% on a year-over-year basis. Equities analysts anticipate that Rite Aid Corp. will post $0.17 EPS for the current fiscal year.

In related news, SVP Douglas E. Donley sold 34,106 shares of the firm’s stock in a transaction on Wednesday, June 15th. The stock was sold at an average price of $7.77, for a total transaction of $265,003.62. Following the sale, the senior vice president now owns 82,885 shares of the company’s stock, valued at approximately $644,016.45. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Other large investors have recently added to or reduced their stakes in the company. Gabelli Funds LLC purchased a new stake in Rite Aid Corp. during the fourth quarter valued at $17,353,000. Gamco Investors INC. ET AL bought a new position in shares of Rite Aid Corp. during the fourth quarter valued at approximately $5,624,000. Gabelli Securities Inc. bought a new position in shares of Rite Aid Corp. during the fourth quarter valued at approximately $8,169,000. Kellner Capital LLC bought a new position in shares of Rite Aid Corp. during the fourth quarter valued at approximately $1,398,000. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new position in shares of Rite Aid Corp. during the fourth quarter valued at approximately $4,312,000.

Rite Aid Corporation is a retail drugstore chain. The Company sells prescription drugs and a range of other merchandise, which are referred to as front-end products. The Company’s drugstores’ primary business is pharmacy services. It operates approximately 4,570 stores in 31 states across the country and in the District of Columbia.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.