Price Target Update on Rite Aid Corporation (NYSE:RAD)

Rite Aid Corporation (NYSE:RAD) : The highest level Rite Aid Corporation (NYSE:RAD) is projected to reach is $10 for the short term and the lowest estimate is at $9. The consolidated price target from 5 rating analysts who initiate coverage on the stock is $9.2 and the possibility the share price can swing is $0.45.

Other Equity analysts have also commented on the company shares. Deutsche Bank downgrades its rating on Rite Aid Corporation (NYSE:RAD). Analysts at the Deutsche Bank have a current rating of Hold on the shares. The shares were previously rated Buy. The rating by the firm was issued on April 8, 2016.

Rite Aid Corporation (NYSE:RAD): stock turned positive on Thursday. Though the stock opened at $7.73, the bulls momentum made the stock top out at $7.79 level for the day. The stock recorded a low of $7.72 and closed the trading day at $7.77, in the green by 0.52%. The total traded volume for the day was 9,166,003. The stock had closed at $7.73 in the previous days trading.

The company shares have dropped -10.12% from its 1 Year high price. On Aug 5, 2015, the shares registered one year high at $9.47 and the one year low was seen on Sep 30, 2015. The 50-Day Moving Average price is $7.81 and the 200 Day Moving Average price is recorded at $7.89. On the companys insider trading activities,The officer (SVP) of Rite Aid Corp, Donley Douglas E sold 34,106 shares at $7.78 on June 15, 2016. The Insider selling transaction had a total value worth of $265,345. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.

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 Companys drugstores primary business is pharmacy services. It operates approximately 4,570 stores in 31 states across the country and in the District of Columbia. Its front-end products include over-the-counter medications, health and beauty aids, personal care items, cosmetics, household items, food and beverages, greeting cards, seasonal merchandise and various other every day and convenience products. The Company offers a range of products through its portfolio of private brands. Its classes of products include prescription drugs, over-the-counter medications and personal care, health and beauty aids, and general merchandise and other. It sells private brand and co-branded products. It operates under The Rite Aid name.

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