Walgreens Ditches Rite Aid Merger, Buys 2200 Stores Instead; Q3 Beats

Walgreens Ditches Rite Aid Merger, Buys 2200 Stores Instead; Q3 Beats

Walgreens Ditches Rite Aid Merger, Buys 2200 Stores Instead; Q3 Beats

The Company's year to date (YTD) performance is now negative at -52.31%.

At the movement J C Penney Company Inc (NYSE:JCP) is under coverage by number of analysts. Credit Suisse Group restated an "outperform" rating and set a $6.50 price target on shares of Rite Aid Corporation in a research note on Monday, March 20th.

The companies announced Thursday that they would end their original deal in which Walgreens would have bought Rite Aid for as much as $7.37 billion. Rite Aid Corporation (RAD) stock price escalated 5.08% to finalize at $3.93 throughout previous buying and selling session. Rite Aid Corporation has a 4.42B market cap and its past year revenues were 32.85B. Keep in mind that Investors should not rely only on an analyst's recommendation when taking a decision whether to buy, hold, or sell a stock.

04/25/2017 - Rite Aid Corporation had its "neutral" rating reiterated by analysts at Guggenheim.

Rite Aid Corporation (RAD) opened at 3.93 on Thursday. Checking some other stock price data, we can see that the recent distance from the 50 day high was noted at -34.18% and the separation from the 50 day low is presently 3.28%.

Several hedge funds have recently added to or reduced their stakes in the company. The bigger the return, the more efficient management is in utilizing its asset base. Institutional investors and hedge funds own 56.85% of the company's stock.

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01/06/2016 - Rite Aid Corporation was downgraded to "hold" by analysts at Evercore ISI. At present, the stock is -66.83% separated from the 52 week high and 0.31% from the low. Tyrus Capital S.A.M. boosted its stake in Rite Aid Corporation by 60.9% in the first quarter. A positive beta would suggest that the stock follows the market.

Rite Aid's shares plunged about 30 percent to $2.77, while Walgreens shares were flat at $76.91 midday.

The current share price of the company is trading -57.35% below its 52-week high price of $8.77 and +28.97% higher than 52-week low price of $2.90. Allianz Asset Management AG increased its position in Rite Aid Corporation by 5,335.7% in the fourth quarter. If you are accessing this piece on another site, it was stolen and republished in violation of United States and worldwide copyright law. The correct version of this news story can be accessed at https://www.themarketsdaily.com/2017/06/28/rite-aid-corporation-sees-unusually-large-options-volume-rad.html.

Rite Aid closed at $4.05, and traded at the high of $4.23 after hours. The Company's segments include Retail Pharmacy and Pharmacy Services. The three distribution centers included in the agreement are located in Dayville, Conn., Philadelphia and Spartanburg, S.C., Rite Aid said.

As of June 20, 2017, Rite Aid operated approximately 4,500 stores in 31 states. Following the transaction's completion, it said it would continue to operate EnvisionRx, its pharmacy benefit manager, RediClinic and Health Dialog subsidiaries in "key communities".

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