Rite Aid Corp. (NYSE:RAD) rose 2.8% during trading on Thursday . The stock traded as high as $7.08 and last traded at $7.04, with a volume of 22,383,171 shares changing hands. The stock had previously closed at $6.85.

RAD has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded shares of Rite Aid Corp. from a “hold” rating to a “sell” rating in a report on Monday, April 11th. Vetr downgraded shares of Rite Aid Corp. from a “strong-buy” rating to a “buy” rating and set a $9.03 price target on the stock. in a report on Monday, May 9th. Evercore ISI downgraded shares of Rite Aid Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, June 1st. JPMorgan Chase & Co. reissued a “hold” rating on shares of Rite Aid Corp. in a report on Friday, June 17th. Finally, Credit Suisse Group AG reissued an “outperform” rating and issued a $9.00 price target on shares of Rite Aid Corp. in a report on Friday, May 20th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $9.34.

The firm has a market cap of $7.32 billion and a price-to-earnings ratio of 52.00. The company’s 50-day moving average price is $7.56 and its 200 day moving average price is $7.83.

Rite Aid Corp. (NYSE:RAD) last issued its quarterly earnings data on Thursday, June 16th. The company reported $0.01 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.05 by $0.04. The firm earned $8.18 billion during the quarter. Rite Aid Corp.’s revenue was up 23.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.02 earnings per share. On average, equities analysts predict that Rite Aid Corp. will post $0.16 EPS for the current fiscal year.

In other news, SVP Douglas E. Donley sold 34,106 shares of Rite Aid Corp. stock in a transaction on Wednesday, June 15th. The stock was sold at an average price of $7.77, for a total value of $265,003.62. Following the completion of the sale, the senior vice president now directly owns 82,885 shares of the company’s stock, valued at $644,016.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Other hedge funds and institutional investors recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Rite Aid Corp. by 6.7% in the fourth quarter. Vanguard Group Inc. now owns 70,299,320 shares of the company’s stock valued at $551,146,000 after buying an additional 4,417,367 shares during the last quarter. Morgan Stanley boosted its position in Rite Aid Corp. by 69.5% in the fourth quarter. Morgan Stanley now owns 11,706,349 shares of the company’s stock valued at $91,778,000 after buying an additional 4,797,918 shares during the last quarter. New York State Common Retirement Fund boosted its position in Rite Aid Corp. by 8.1% in the fourth quarter. New York State Common Retirement Fund now owns 3,320,915 shares of the company’s stock valued at $26,036,000 after buying an additional 250,205 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Rite Aid Corp. by 1.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,782,804 shares of the company’s stock valued at $21,817,000 after buying an additional 36,828 shares during the last quarter. Finally, Gabelli Funds LLC bought a new position in Rite Aid Corp. during the fourth quarter valued at approximately $17,353,000.

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.

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