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Main » Walgreens Revamps Plan to Buy Rite Aid (WBA, FRED, RAD)

Walgreens Revamps Plan to Buy Rite Aid (WBA, FRED, RAD)

28 March 2017

Important factors to focus when evaluating a stock's present and future value are the 52-week price high and low levels.

In an effort to sway the Federal Trade Commission and several state attorneys general to agree to its proposed merger with rival Rite Aid, Walgreens Boots Alliance is prepared to sell more stores as well as distribution centers, software and human resources to regional drugstore chain Fred's Pharmacy, Bloomberg reports.

The stock showed a weekly upbeat performance of 5.81%, which was maintained for the month at -13.68%. Inside the closing six months period, the stock's performance declined -41.17% while overall yearly performance lost -39.55%. State Street Corp increased its stake in Rite Aid by 0.9% in the fourth quarter. The last session's volume of 34.80 million shares was higher than its average volume of 20.05 million shares. This week, Rite Aid shares were hovering between $4.50 and $4.90 per share even as reports swirled more suitors were emerging to buy even more divested Rite Aid stores. 1 Wall Street Firms have rated the stock as a strong buys. CNH Partners LLC now owns 19,634,002 shares of the company's stock valued at $147,059,000 after buying an additional 2,174,367 shares during the last quarter. Investors measure stock performance on the basis of a company's earnings power. RAD's value Change from Open was at 2.96% with a Gap of 0.00%. The average twelve-month price objective among analysts that have covered the stock in the previous year is $7.21. The total market capitalization remained at $5.33 billion. The company reported $0.02 EPS for the quarter, missing the analyst consensus estimate by $ -0.03.

The High Revenue estimate is predicted as 8.36 Billion, while the Low Revenue Estimate prediction stands at 8.13 Billion. Rite Aid had a return on equity of 24.52% and a net margin of 0.28%. The average 12-month price objective among brokerages that have issued a report on the stock in the year ago is $7.21.

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ON Semiconductor Corporation (NASDAQ: ON) ended its day at $15.22 with the rising stream of -0.85% and its total traded volume was 21.7 million shares more than the average volume. Equities research analysts expect that Rite Aid Co. will post $0.07 EPS for the current year.

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A number of other research firms also recently issued reports on RAD. Zacks Investment Research upgraded Rite Aid from a "sell" rating to a "hold" rating in a research note on Wednesday, November 23rd. Finally, Deutsche Bank AG reiterated a "hold" rating and set a $6.50 target price (down from $9.00) on shares of Rite Aid in a report on Monday, March 6th.

While looking at the Stock's Performance, Rite Aid Corporation now shows a Weekly Performance of -9.56%, where Monthly Performance is -13.69%, Quarterly performance is -41.96%, 6 Months performance is -41.96% and yearly performance percentage is -40.65%. Analysts have a mean recommendation of 2.60 on this stock (A rating of less than 2 means buy, "hold" within the 3 range, "sell" within the 4 range, and "strong sell" within the 5 range). The stock price target chart showed average price target of 6.54 as compared to current price of 4.87.

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In December Fred's, Walgreens and Rite Aid announced an agreement to sell Fred's 865 stores. This Company belongs to Retail-Wholesale sector.

Rite Aid Corporation Last issued its quarterly earnings results on Dec 22, 2016. It operates approximately 4,560 stores in over 30 states across the country and in the District of Columbia.

Drug Store News reported one week ago that Walgreens was perhaps considering declaring it has "certified compliance" in its Rite Aid merger, forcing the FTC to vote on the proposed transaction in 30 days.

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Walgreens Revamps Plan to Buy Rite Aid (WBA, FRED, RAD)