The stock of Rite Aid Corporation (NYSE:RAD) decreased by -$0.26 on Monday to finish at $2.05, down -11.26 percent. The last five days have seen an average of 6,030,460 shares of common stock traded. 6 times new highs were reached in the current year, with a fall of -$1.29. The average number of shares traded over the last 20 days was 8,812,870, while the average volume over the last 50 days totaled 5,172,080.
RAD stock appreciated 33.12% since last month. On 07/18/23, the company’s shares reached a one-month low of $1.50. The stock touched a high of $11.38 on 02/23/23, after rallying from a low of $1.42 in 52 weeks. The price of RAD stock has declined by -38.62% or -$1.29 this year, reaching a new high 6 times. Still, the stock price is down -81.99% from the 52-week high.
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Financial Health
For the three months ended May 30, Rite Aid Corporation’s quick ratio was 0.60, while its current ratio was 1.30, indicating its inability to pay off its debt. As far as profitability goes, gross margin for the trailing twelve months is 20.20% percent. Rite Aid Corporation’s EBITDA margin for the year ended May 30 was 1.42%, whereas its operating margin stood at -3.20% for the same period. Based on annual data, it had gross profit of $4.8 billion and revenue of $24.09 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. RAD’s return on assets (ROA) during the last 12 months has been -11.90%. There was a -25.80% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 162.50%.
Earnings Surprise
According to Rite Aid Corporation’s quarterly financial report for the quarter that ended May 30. A lower net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $5.65 billion, while revenues fell by -6.39% to $6.09 billion. It was predicted that Rite Aid Corporation’s quarterly earnings would be -$0.73, but it ended up being -$1.46. EBITDA was -$10.8 million for the quarter. At the end of Rite Aid Corporation’s most recent quarter ended May 30, its liabilities totaled 8.6 billion, while its total debt was $6.18 billion. Equity owned by shareholders amounts to $56.7 million.
Technical Picture
Here’s a quick look at Rite Aid Corporation’s (RAD) price momentum from a technical perspective. As of 14 August, the RSI 9-day stood at 47.15%, suggesting the stock is Neutral, with a 211.38% historical volatility rate.
The stochastic %K and %D were 37.74% and 48.25% respectively, while the average true range (ATR) was 0.35. Based on the 14-day stochastic reading of 30.62%, the RSI (14) reading is 50.81%. On the 9-day MACD Oscillator, the stock is at -0.29.
Analyst Ratings
Rite Aid Corporation (NYSE: RAD) was downgraded by Deutsche Bank to a a Sell rating in its latest research report. The stock was previously rated as a a Hold. Analysts have assigned Rite Aid Corporation (RAD) an Sell rating. RAD is a stock that is recommended for selling by 3 brokerage firms, while 0 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 0 others recommend it as a buy.
What is RAD’s price target for the next 12 months?
The current consensus forecast for the stock is between $1.00 and $1.00, with a median target price of $1.00. In analyzing these forecasts, the average price target given by analysts for Rite Aid Corporation (RAD) is $1.00.
