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Jim Cramer's Stop Trading: Time to Buy Rite-Aid

NEW YORK (TheStreet) -- On CNBC's "Cramer's Stop Trading" segment, TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, took a look at Rite Aid (RAD - Get Report)

The stock is down 17% from its 52-week highs due to "shortfalls" in the previous quarter, he said. 

However, the company reported same-store sales growth of 3.9%, better than the 2.6% growth Cramer was looking for. 

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He also likes Walgreen (WAG), except the stock has been "pushed to extremes" by hedge funds.

Given Rite Aid's 17% decline, followed by its better-than-expected same-store sales results, it's time to "buy Rite Aid," he concluded.

-- Written by Bret Kenwell in Petoskey, Mich.

At the time of publication, Cramer's Action Alerts PLUS had no position in companies mentioned.

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