Rite Aid Given Average Recommendation of “Buy” by Analysts (NYSE:RAD)

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Shares of Rite Aid (NYSE:RAD) have earned a consensus recommendation of “Buy” from the eleven analysts that are covering the stock, AnalystRatingsNetwork.com reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $7.63.

Shares of Rite Aid (NYSE:RAD) opened at 7.08 on Friday. Rite Aid has a 52 week low of $2.83 and a 52 week high of $8.62. The stock has a 50-day moving average of $7.39 and a 200-day moving average of $6.78. The company has a market cap of $6.820 billion and a price-to-earnings ratio of 40.35.

Rite Aid (NYSE:RAD) last issued its quarterly earnings data on Thursday, June 19th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by $0.01. The company had revenue of $6.47 billion for the quarter, compared to the consensus estimate of $6.43 billion. During the same quarter in the previous year, the company posted $0.09 earnings per share. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. Analysts expect that Rite Aid will post $0.35 EPS for the current fiscal year.

A number of research firms have recently commented on RAD. Analysts at Zacks downgraded shares of Rite Aid from an “outperform” rating to a “neutral” rating in a research note on Wednesday, July 2nd. They now have a $7.50 price target on the stock. Separately, analysts at S&P Equity Research downgraded shares of Rite Aid to a “sell” rating in a research note on Friday, June 6th. Finally, analysts at Goldman Sachs reiterated a “buy” rating on shares of Rite Aid in a research note on Thursday, June 5th.

Rite Aid Corporation is a retail drugstore chain in the United States. In the Company’s stores, it sells prescription drugs and a range of other merchandise, which it calls front end products.

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