Rite Aid Corporation RAD was a big mover last session, as the company saw its shares rise more than 14% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $1.43 to $1.89 in the past one-month time frame.
The upside was driven after the company witnessed volume growth for the second consecutive session, following its announcement of the completion of pilot closing of its amended asset purchase agreement with Walgreens Boots Alliance, Inc.
The company has not seen any estimate revisions in the past one month, while the Zacks Consensus Estimate for the current quarter has also remained unchanged. The recent price action is encouraging though, so make sure to keep a close watch on this firm in the near future.
Rite Aid currently has a Zacks Rank #3 (Hold), while its Earnings ESP is 0.00%.
A better-ranked stock in the Retail – Pharmacies and Drug Stores industry is Diplomat Pharmacy, Inc. DPLO, which currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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