Investing in Rite Aid Corporation (RAD) is a safe bet with a significant edge

In the latest session, Rite Aid Corporation (NYSE: RAD) closed at $3.38 up 1.81% from its previous closing price of $3.32. In other words, the price has increased by $+0.0600 from its previous closing price. On the day, 3384182 shares were traded. RAD stock price reached its highest trading level at $3.4602 during the session, while it also had its lowest trading level at $3.2500.

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For a deeper understanding of Rite Aid Corporation’s stock, let’s take a closer look at its various ratios. For the most recent quarter (mrq), Quick Ratio is recorded 0.60 and its Current Ratio is at 1.30.

Upgrades & Downgrades

In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for the company, Deutsche Bank on April 07, 2022, Downgraded its rating to Sell and sets its target price to $1 from $16 previously.

On June 25, 2021, JP Morgan Downgraded its rating to Underweight which previously was Neutral and also lowered its target price recommendation from $21 to $12.

Deutsche Bank reiterated its Hold rating for the stock on March 25, 2021, while the target price for the stock was revised from $17 to $27.

Valuation Measures:

For the stock, the TTM Price-to-Sale (P/S) ratio is 0.01.

Stock Price History:

Over the past 52 weeks, RAD has reached a high of $11.60, while it has fallen to a 52-week low of $3.17. The 50-Day Moving Average of the stock is 4.3746, while the 200-Day Moving Average is calculated to be 6.1410.

Shares Statistics:

For the past three months, RAD has traded an average of 2.49M shares per day and 2.95M over the past ten days. A total of 54.79M shares are outstanding, with a floating share count of 54.38M. Insiders hold about 3.60% of the company’s shares, while institutions hold 52.30% stake in the company. Shares short for RAD as of Oct 13, 2022 were 10.24M with a Short Ratio of 9.90M, compared to 9.11M on Sep 14, 2022. Therefore, it implies a Short% of Shares Outstanding of 18.11% and a Short% of Float of 21.05%.

Earnings Estimates

There are 2 different market analysts currently analyzing its stock. On average, analysts expect EPS of -$0.31 for the current quarter, with a high estimate of -$0.13 and a low estimate of -$0.5, while EPS last year was $0.15. The consensus estimate for the next quarter is -$0.2, with high estimates of -$0.1 and low estimates of -$0.31.

Analysts are recommending an EPS of between -$1.14 and -$2.75 for the fiscal current year, implying an average EPS of -$1.78. EPS for the following year is -$1.51, with 2 analysts recommending between -$0.37 and -$2.65.

Revenue Estimates

A total of 3 analysts have provided revenue estimates for RAD’s current fiscal year. The highest revenue estimate was $24.05B, while the lowest revenue estimate was $23.45B, resulting in an average revenue estimate of $23.73B. In the same quarter a year ago, actual revenue was $24.57B, down -3.40% from the average estimate. Based on 3 analysts’ estimates, the company’s revenue will be $23.32B in the next fiscal year. The high estimate is $24.22B and the low estimate is $22.74B. The average revenue growth estimate for next year is down -1.70% from the average revenue estimate for this year.