Albertsons to Buy Rite Aid Corporation (NYSE:RAD)

Grocery retailer Albertsons to buy drugstore chain Rite Aid

ConocoPhillips (NYSE:COP) has risen 9.50% since February 23, 2017 and is uptrending. It has outperformed by 7.65% the S&P500.

Albertsons plans to rebrand its pharmacies at Rite Aid and will also continue to operate Rite Aid stand-alone pharmacies.

The company's stock is now moving with a -ve distance from the 200 day SMA of approximately -10.06%, and has a solid year to date (YTD) performance of 8.12% which means that the stock is constantly adding to its value from the previous fiscal year end price. RBC Capital Markets maintained Rite Aid Corporation (NYSE:RAD) on Wednesday, October 25 with "Hold" rating. Canyon Capital Advisors Llc who had been investing in Rite Aid Corp for a number of months, seems to be bullish on the $2.21 billion market cap company.

Insider ownership increased by a total of 0 shares, which suggests that RAD's key executives are feeling more optimistic about the outlook for the stock. About 77.86M shares traded or 181.13% up from the average. For the current quarter Rite Aid Corp (NYSE:RAD) has high EPS estimates of $0.01 in contradiction of low EPS estimates of $-0.04. It has underperformed by 71.88% the S&P500. Element Capital Management LLC bought a new stake in Rite Aid in the fourth quarter valued at approximately $7,170,000. It also reduced its holding in Amc Entmt Hldgs Inc (NYSE:AMC) by 268,383 shares in the quarter, leaving it with 1.68M shares, and cut its stake in Fitbit Inc (Prn) (Put).

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Since October 3, 2017, it had 0 insider purchases, and 1 sale for $58,915 activity. Therefore 37% are positive. Rite Aid has a 12-month low of $1.38 and a 12-month high of $6.04. The stock presently has a consensus rating of "Hold" and an average target price of $2.75. Guggenheim downgraded the stock to "Neutral" rating in Wednesday, April 26 report.

On the other hand Rite Aid Corp (NYSE:RAD) has Relative Strength Index (RSI 14) of 45.27 along with Average True Range (ATR 14) of 0.11. Mizuho maintained the shares of RAD in report on Thursday, September 17 with "Buy" rating. ING Groep NV raised its stake in Rite Aid by 176.6% in the third quarter. Bank of America initiated the shares of RAD in report on Thursday, August 13 with "Buy" rating. The firm has "Neutral" rating by JP Morgan given on Friday, November 13.

Investors sentiment increased to 0.97 in 2017 Q3. Its down 0.07, from 1.17 in 2017Q2. 479.53 million shares or 0.81% more from 475.65 million shares in 2017Q2 were reported. Pointstate Limited Partnership, New York-based fund reported 350,000 shares. Virtu Fincl Limited Liability Co reported 238,376 shares. Iberiabank Corporation holds 52,400 shares. Exane Derivatives holds 0% in Rite Aid Corporation (NYSE:RAD) or 3 shares. Natl Planning reported 74,525 shares. Oppenheimer And invested in 0.01% or 113,786 shares. M&T Natl Bank Corp owns 0% invested in Rite Aid Corporation (NYSE:RAD) for 219,154 shares. Ibm Retirement Fund invested in 25,941 shares. Schroder Investment Management stated it has 0.01% of its portfolio in CF Industries Holdings, Inc. Stratos Wealth Prns Limited holds 193,711 shares or 0.02% of its portfolio. It is negative, as 40 investors sold CF shares while 147 reduced holdings. 73 funds opened positions while 223 raised stakes. Dc Ltd reported 500,000 shares.

Gamco Investors Inc Et Al, which manages about $16.16 billion US Long portfolio, decreased its stake in Westwood Hldgs Group Inc Com (NYSE:WHG) by 4,800 shares to 618,103 shares, valued at $41.58 million in 2017Q3, according to the filing. Glendon Capital Management LP reported 2.46M shares stake. (NASDAQ:TSLA) or 5,157 shares. Moreover, Sterling Capital Mgmt Ltd has 0% invested in ConocoPhillips (NYSE:COP). They expect $0.08 earnings per share, up 60.00% or $0.03 from last year's $0.05 per share. Johnson Gru holds 24,924 shares. Girard Prns has invested 0.21% in PPL Corporation (NYSE:PPL). The Texas-based American National Bank has invested 0.07% in the stock. 4,370 were accumulated by Family Firm Inc. Chesley Taft & Associate owns 30,390 shares or 0.01% of their USA portfolio. The company operates in the Consumer Defensive sector with a market capitalization of 2.22 Million. While Amazon's entry in the grocery industry was marked by the recent acquisition of Whole Foods, the company recently teamed up with Berkshire Hathaway, Inc. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. A rating of 1 or 2 would be indicating a Buy recommendation. As per Friday, August 14, the company rating was upgraded by Vetr. The firm earned "Buy" rating on Friday, June 3 by Sterne Agee CRT. On Monday, October 23 the stock rating was maintained by Jefferies with "Buy". The firm has "Hold" rating given on Wednesday, August 2 by Wells Fargo. The rating was maintained by Loop Capital with "Hold" on Friday, September 29. The rating was maintained by Berenberg with "Buy" on Thursday, January 12.

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