Rite Aid Corporation (NYSE:RAD) shot up 9.8% during mid-day trading on Monday . The stock traded as high as $1.60 and last traded at $1.57. 30,393,100 shares were traded during mid-day trading, an increase of 9% from the average session volume of 27,871,166 shares. The stock had previously closed at $1.43.

Several research firms recently issued reports on RAD. Royal Bank Of Canada set a $2.00 price objective on Rite Aid Corporation and gave the company a “hold” rating in a report on Wednesday, October 25th. Mizuho set a $2.00 price target on Rite Aid Corporation and gave the stock a “hold” rating in a report on Saturday, October 7th. Zacks Investment Research cut Rite Aid Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, October 4th. Guggenheim reaffirmed a “neutral” rating and set a $2.00 price objective on shares of Rite Aid Corporation in a research report on Monday, October 2nd. Finally, Loop Capital reaffirmed a “hold” rating and set a $2.00 price objective (down from $2.50) on shares of Rite Aid Corporation in a research report on Friday, September 29th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $3.68.

The company has a quick ratio of 0.77, a current ratio of 1.74 and a debt-to-equity ratio of 9.71.

Rite Aid Corporation (NYSE:RAD) last released its quarterly earnings data on Thursday, September 28th. The company reported ($0.01) earnings per share for the quarter, meeting the consensus estimate of ($0.01). The firm had revenue of $7.68 billion during the quarter, compared to the consensus estimate of $7.83 billion. Rite Aid Corporation had a negative return on equity of 7.51% and a net margin of 0.28%. Rite Aid Corporation’s quarterly revenue was down 4.4% on a year-over-year basis. During the same period last year, the business posted $0.03 EPS. analysts anticipate that Rite Aid Corporation will post -0.1 EPS for the current fiscal year.

In other news, Director Myrtle S. Potter sold 28,189 shares of the firm’s stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $2.09, for a total transaction of $58,915.01. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 2.29% of the stock is owned by company insiders.

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Rite Aid Corporation by 0.4% in the second quarter. Vanguard Group Inc. now owns 84,788,103 shares of the company’s stock valued at $250,125,000 after acquiring an additional 353,087 shares during the last quarter. FMR LLC raised its position in Rite Aid Corporation by 204.0% in the second quarter. FMR LLC now owns 29,123,366 shares of the company’s stock valued at $85,914,000 after purchasing an additional 19,542,772 shares during the period. State of New Jersey Common Pension Fund D raised its position in Rite Aid Corporation by 1.7% in the third quarter. State of New Jersey Common Pension Fund D now owns 6,100,000 shares of the company’s stock valued at $11,956,000 after purchasing an additional 100,000 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in Rite Aid Corporation by 100.4% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,412,603 shares of the company’s stock valued at $15,967,000 after purchasing an additional 2,711,300 shares during the period. Finally, OxFORD Asset Management LLP purchased a new position in Rite Aid Corporation in the second quarter valued at about $14,659,000. Institutional investors and hedge funds own 53.01% of the company’s stock.

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About Rite Aid Corporation

Rite Aid Corporation is a retail drugstore chain. The Company’s segments include Retail Pharmacy and Pharmacy Services. The Company operates under The Rite Aid name. It operates approximately 4,560 stores in over 30 states across the country and in the District of Columbia. The Company’s Retail Pharmacy segment consists of Rite Aid stores, RediClinic and Health Dialog.

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