Shares of Rite Aid Corp. (NYSE:RAD) saw unusually-high trading volume on Wednesday . Approximately 26,353,957 shares were traded during mid-day 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 a number of recent research reports. Vetr lowered Rite Aid Corp. from a “strong-buy” rating to a “buy” rating and set a $9.03 target price on the stock. in a report on Monday, May 9th. Credit Suisse Group AG reaffirmed an “outperform” rating and set a $9.00 price target on shares of Rite Aid Corp. in a research report on Friday, May 20th. Zacks Investment Research raised 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 Rite Aid Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, June 1st. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $9.18.

The firm’s 50-day moving average is $7.19 and its 200 day moving average is $7.71. The company has a market capitalization of $7.77 billion and a P/E ratio of 55.19.

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

In other 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 sale, the senior vice president now directly owns 82,885 shares of the company’s stock, valued at approximately $644,016.45. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

A hedge fund recently raised its stake in Rite Aid Corp. stock. Bank of Montreal Can raised its stake in shares of Rite Aid Corp. (NYSE:RAD) by 34.9% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,326,685 shares of the company’s stock after buying an additional 343,535 shares during the period. Bank of Montreal Can owned approximately 0.13% of Rite Aid Corp. worth $10,401,000 as of its most recent filing with the SEC.

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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