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: Rite Aid is a retail drugstore chain in the U.S. serving customers in numerous states across the country and in the District of Columbia. The company sells prescription drugs and a range of front-end products. Rite Aid trades an average of 3.3 million shares per day with a marketcap of $1.2 billion.
52 Week Range:
$0.85 to $2.12
Second quarter earnings is highly anticipated by hopeful investors expecting an improving report before the market opens on Sept. 20. The analysts' mean appraisal is presently looking for a loss of 8 cents a share, a somewhat better result compared to the loss of 12 cents during the corresponding quarter last year.
Right now, Rite Aid has 0 buy recommendations out of four analysts covering the company, three holds and one sell recommendation. The average analyst target price for Rite Aid is $1.35.
I would not be surprised if the price target gets raised after the earnings release.
has done a great job at running circles around Rite Aid, but after following Rite Aid on and off for over a year, it appears to regaining its footing.
In the last month, the stock performed well with a 7.5% increase. Last quarter Rite Aid's earnings release was held on June 21 and the previous closing price was $1.25. Relative to a current price of $1.28, shares are up 2.4%.
The current proportion sold short based on the float is 7.5%. While 7.5% is high by normal standards, the short interest is now near the 12-month low. Bottom line, Rite Aid might blast higher from here. With a significant beat, we may witness a serious short squeeze.