Rite Aid Corp. (NYSE:RAD) shares saw unusually-high trading volume on Wednesday . Approximately 26,353,957 shares changed hands during trading, an increase of 126% from the previous session’s volume of 11,651,762 shares.The stock last traded at $7.51 and had previously closed at $7.65.

RAD has been the topic of several research reports. Zacks Investment Research upgraded shares of Rite Aid Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, August 17th. Credit Suisse Group AG reiterated an “outperform” rating and issued a $9.00 target price on shares of Rite Aid Corp. in a report on Friday, May 20th. Vetr downgraded shares of Rite Aid Corp. from a “strong-buy” rating to a “buy” rating and set a $9.03 target price for the company. in a report on Monday, May 9th. JPMorgan Chase & Co. reiterated a “hold” rating on shares of Rite Aid Corp. in a report on Friday, June 17th. Finally, Evercore ISI downgraded shares of Rite Aid Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, June 1st. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $9.18.

The firm has a market capitalization of $7.79 billion and a PE ratio of 55.33. The firm has a 50-day moving average price of $7.19 and a 200 day moving average price of $7.72.

Rite Aid Corp. (NYSE:RAD) last announced its earnings results on Thursday, June 16th. The company reported $0.01 EPS for the quarter, missing the Zacks’ consensus estimate of $0.05 by $0.04. The firm had revenue of $8.18 billion for the quarter. The company’s revenue for the quarter was up 23.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.02 EPS. Equities research analysts expect 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 the business’s stock in a transaction on Wednesday, June 15th. The shares were 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 in the company, valued at approximately $644,016.45. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

An institutional investor recently raised its position in Rite Aid Corp. stock. Airain ltd raised its position in shares of Rite Aid Corp. (NYSE:RAD) by 314.0% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 226,000 shares of the company’s stock after buying an additional 171,406 shares during the period. Airain ltd’s holdings in Rite Aid Corp. were worth $1,772,000 at the end of the most recent 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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