Rite Aid Corporation (NYSE:RAD) rose 3.57% in recent trade and currently has a stock-market value of $824.49M. The shares finished at $0.77, after trading as low as $0.7551 earlier in the session. It hit an intraday high Friday at $0.8163. Trading activity significantly weakened as the volume at ready counter decreased to 16,139,755 shares versus 18,780,234 in average daily trading volume over the past 20 days. So far this year, the volume has averaged about 15,870,233 shares. The stock is now 28.33% above against its bear-market low of $0.6 on December 27, 2018. It has retreated -231.17% since it’s 52-week high of $2.55 reached in January. Now the market price is down -63.27% on the year and up 9.4% YTD.
RAD’s 50 day simple moving average (SMA 50) price is $1.02 and its 200-day simple moving average (SMA 200) price is $1.43. The company’s stock currently has a total float of 1.05B shares. Its weekly volatility is hovering around 9.94% and felt 9.17% volatility in price over a month. On the upside, the share price will test short term resistance at around $0.81. On a downside, the stock is likely to find some support, which begins at $0.75. The failure to get near-term support could push it to $0.72.
Separately, it has been reported that multiple insider activity took place at Rite Aid Corporation (RAD). Director Potter Myrtle S sold 28,189 shares for $78,790 in transaction occurred on 2017/10/03. After making this transaction, the Director owns a direct stake of 58,915 shares, worth $60,668, as per the last closing price. On 2016/06/15 Donley Douglas E, SVP at RAD, dumped 34,106 shares at an average price of $7.77 per share. The selling total is valued at $37,560.
EVP, Montini Tony had divested 353,194 shares for $266,601 through a trade on 2015/07/09. Following this activity, the insider holds 2,959,766 shares worth $205,283 as of recent close.Wall Street’s most bullish Rite Aid Corporation (NYSE:RAD) analysts are predicting the share price to blow past $1.5 per share during the next 12 months. The current median share price forecast by them is $1, suggesting that the stock could increase 29.87% in that time frame. The average price target of $0.95 calls for a nearly 23.38% increase in the stock price.
It had seen a new analyst call from Goldman, which initiated the stock at Sell on September 06. Analysts at Evercore ISI, started covering the stock on January 05 with a Underperform rating. Analysts at Deutsche Bank, made their first call about the stock on December 04, recommending it is Hold.
Moreover, it trades for 15.81 times the next 12 months of expected earnings. Also, it is trading at rather inexpensive levels at just over 0.56x price/book and 0.04x price/sales. Compared to others, Rite Aid Corporation is in a different league with regards to profitability, having net margins of 5.7%. To put some perspective around this, the industry’s average net margin is 2.89%. RAD’s ROE is 86.6%, which is also considerably better than the industry’s ROE of 13.75%. It’s also very liquid in the near term, with a current ratio of 1.6. The stock has a debt/capital of 2.42.
RAD last reported earnings on December 19, 2018 when it released Aug-18 results that receded expectations. The company raked in -$0.01 per share, -99.98% change on the same period last year. That was worse than consensus for -$0.01. Revenue for the recent quarter stood at $5.42 billion, down -29% on last year and above the $5.36 billion predicted by analysts. For this quarter, Wall Street analysts forecast revenue in a range of $5.39 billion to $5.78 billion, which should be compared with $5.63 billion generated last year. EPS is seen in a range of 0 to $0.03, against the $0.03 reported a year ago.