Can Rite Aid Stock Bounce Back After Last Week's 18% Drop?
Things keep getting even harder for investors in one of this year's biggest sinkers. Shares of Rite Aid (NYSE: RAD) tumbled 18% last week after putting out disappointing quarterly results. Shares of the jilted drugstore operator have now plummeted 76% in 2017. You have to go back more than four years to find the last time that Rite Aid stock was trading below the $2 mark.
Revenue clocked in at $7.7 billion for Rite Aid's fiscal second quarter, 4% lower than where it was at a year earlier. Analysts were holding out for a much smaller dip on the top line. Rite Aid had a reported profit of $0.16 a share for the period, but that was primarily because of the $325 million it received from Walgreens Boots Alliance (NASDAQ: WBA) after a deal for Rite Aid to be acquired fell through earlier this year. Remove that one-time gain, and Rite Aid's checking in with an adjusted deficit of $0.01 a share.
Image source: Rite Aid.
Source: Fool.com
Walgreens Boots Alliance Inc. Stock
Currently there is a rather negative sentiment for Walgreens Boots Alliance Inc. with 3 Buy predictions and 5 Sell predictions..
On the other hand, the target price of 32 € is above the current price of 16.04 € for Walgreens Boots Alliance Inc., so the potential is actually 99.48%.
