Rite Aid Corp. (NYSE:RAD) shares were down 2.4% during mid-day trading on Monday . The stock traded as low as $7.00 and last traded at $7.02, with a volume of 13,879,829 shares traded. The stock had previously closed at $7.19.

Several research analysts have issued reports on RAD shares. Vetr lowered shares of Rite Aid Corp. from a “strong-buy” rating to a “buy” rating and set a $9.03 price target for the company. in a report on Monday, May 9th. Credit Suisse Group AG reaffirmed an “outperform” rating and set a $9.00 price objective on shares of Rite Aid Corp. in a research report on Friday, May 20th. Zacks Investment Research raised shares of Rite Aid Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday, June 8th. JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of Rite Aid Corp. in a research report on Friday, June 17th. Finally, Evercore ISI downgraded shares of Rite Aid Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, June 1st. One analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company’s stock. Rite Aid Corp. presently has a consensus rating of “Hold” and an average price target of $9.34.

The firm has a market capitalization of $7.37 billion and a price-to-earnings ratio of 52.37. The stock’s 50 day moving average is $7.51 and its 200-day moving average is $7.82.

Rite Aid Corp. (NYSE:RAD) last announced 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. The business earned $8.18 billion during the quarter. During the same period in the prior year, the company earned $0.02 earnings per share. The firm’s quarterly revenue was up 23.1% on a year-over-year basis. On average, analysts forecast that Rite Aid Corp. will post $0.16 earnings per share for the current year.

In other Rite Aid Corp. news, SVP Douglas E. Donley sold 34,106 shares of the business’s stock in a transaction that occurred 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 owns 82,885 shares in the company, valued at $644,016.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

A number of hedge funds recently made changes to their positions in the stock. Dimensional Fund Advisors LP increased its stake in shares of 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. Levin Capital Strategies L.P. acquired a new position in shares of Rite Aid Corp. during the fourth quarter worth approximately $2,801,000. State of New Jersey Common Pension Fund D acquired a new position in shares of Rite Aid Corp. during the fourth quarter worth approximately $12,544,000. Cowen Group Inc. acquired a new position in shares of Rite Aid Corp. during the fourth quarter worth approximately $12,493,000. Finally, Bank of Montreal Can increased its position in shares of Rite Aid Corp. by 34.9% in the fourth quarter. Bank of Montreal Can now owns 1,326,685 shares of the company’s stock worth $10,401,000 after buying an additional 343,535 shares in the last quarter.

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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