Rite Aid Corporation (RAD) : Traders are bullish on Rite Aid Corporation (RAD) as it has outperformed the S&P 500 by a wide margin of 13.2% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 2.68%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 2.65% in the last 1 week, and is up 13.64% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Rite Aid Corporation is up 1.17% in the last 3-month period. Year-to-Date the stock performance stands at -1.15%. The stock has recorded a 20-day Moving Average of 7.72% and the 50-Day Moving Average is 5.75%.
Rite Aid Corporation (NYSE:RAD): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $7.74 and $7.68 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $7.79. The buying momentum continued till the end and the stock did not give up its gains. It closed at $7.75, notching a gain of 0.39% for the day. The total traded volume was 12,363,260 . The stock had closed at $7.72 on the previous day.
Also, 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 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.