Evercore ISI Initiates a Sell Rating on Rite Aid (RAD)

In a report issued on September 24, Elizabeth Anderson CFA from Evercore ISI initiated coverage with a Sell rating on Rite Aid (RADResearch Report) and a price target of $11.00. The company’s shares closed last Friday at $14.70.

According to TipRanks.com, CFA is a 1-star analyst with an average return of -5.0% and a 51.5% success rate. CFA covers the Healthcare sector, focusing on stocks such as Patterson Companies, AmerisourceBergen, and Oak Street Health.

Currently, the analyst consensus on Rite Aid is a Moderate Sell with an average price target of $11.00.

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The company has a one-year high of $32.48 and a one-year low of $8.86. Currently, Rite Aid has an average volume of 2.31M.

Based on the recent corporate insider activity of 38 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of RAD in relation to earlier this year.

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Rite Aid Corp. engages in the ownership and management of retail drug stores. It operates through the Retail Pharmacy and Pharmacy Services business segments. The Retail Pharmacy segment includes branded and generic prescription drugs, health and beauty aids, personal care products, and walk-in retail clinics. The Pharmacy Services segment offers transparent and traditional pharmacy benefit management for insurance companies, employers, health plans, and government employee groups. The company was founded by Alex Grass in September 1962 and is headquartered in Camp Hill, PA.