The new company will have a particularly strong presence on the West Coast. The company's 3-months average volume stands at 27.02 million. But it also gets it deeper into the increasingly tough and competitive pharmacy business. The saving grace may be that all Rite Aid - Supervalu direct competitors, think Kroger and Ahold Delhaize, as well, face the same dilemma of needing scale to survive. The stock trades on a P/S of 0.09, which suggests that the shares are attractive compared with peers. Finally, Harbor Advisors LLC lifted its holdings in Rite Aid by 300.0% in the third quarter. Advisor Group Inc. now owns 36,518 shares of the company's stock valued at $101,000 after buying an additional 12,140 shares in the last quarter. Goldman Sachs downgraded Rite Aid Corporation (NYSE:RAD) on Thursday, October 29 to "Neutral" rating. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 16,457,300 shares of the company's stock worth $32,421,000 after acquiring an additional 2,900,000 shares during the period.
And Wall Street Journal reporter Heather Haddon says the deal could benefit both companies and consumers.
Among 14 analysts covering Rite Aid (NYSE:RAD), 2 have Buy rating, 2 Sell and 10 Hold. They set an "underperform" rating and a $1.50 target price on the stock.
Because Albertson's is private, Rite Aid stock remains the only current avenue with which to profit from this deal. More interesting news about Rite Aid Corporation (NYSE:RAD) were released by: Forbes.com and their article: "Rite Aid Turnaround May Hinge On Narrow Networks" published on February 02, 2018 as well as Bloomberg.com's news article titled: "Albertsons to Buy Rite Aid in Latest Amazon Countermeasure" with publication date: February 20, 2018.
Taking a glance at where the stock might be directed in the future, on a consensus basis, the sell-side has a 52 week price target of $2.07 on the stock, this valuation is based on 7 number of opinions. The latest exchange of 144.27 Million shares is below its average trading activity of 24.75 Million shares.
The company's quick ratio for most recent quarter is 0.6 along with current ratio for most recent quarter of 0.9. The firm has a market capitalization of $2,160.00, a PE ratio of 18.36 and a beta of 1.76. According to these analysts, the Low Revenue Estimate for Rite Aid Corporation is 5.38 Billion and the High Revenue Estimate is 5.74 Billion. If you are accessing this piece on another website, it was copied illegally and republished in violation of global trademark and copyright legislation.
Netanyahu Warns Iran: 'Do Not Test Israel's Resolve'
And I believe it would be a response that means people would be sorry for taking the erroneous action they did", he said. Zarif denounced what he said were Israel's "almost daily illegal incursions into Syrian airspace".
WARNING: "Rite Aid Co".
A trip to the town's Rite Aid may seem typical until you take a closer look.
Amazon's competitors also are bulking up health care services, which can not be purchased online.
Miller said the new company would "enable us to even better serve the valuable pharmacy customer by providing a fully integrated one-stop shop for our customers' food, health and wellness needs".
Camp Hill, Pa. -based Rite Aid is a leading drugstore chains that now operates more than 4,500 stores in 31 states and Washington, D.C.
According to a brochure sent to Rite Aid pharmacy customers, stores that are converting to Walgreens will install new systems over the next two to three years.