Momentum Stock: Rite Aid Corporation (NYSE:RAD)

The Walgreens Rite Aid merger deal will expire Friday without an extension

On Monday, shares of retail drugstore chain Rite Aid RAD are tanking, down around 17% in afternoon trading after Walgreens Boots Alliance WBA said it would pay a lower price per share its pending acquisition of the company.

In case of Revenue Estimates, 4 analysts have provided their consensus Average Revenue Estimates for Rite Aid Corporation as 8.28 Billion.

If Walgreen walked away from the deal, Rite Aid's share price could have fallen below $4 a share, sources said. The price per share will be determined on how many stores Rite Aid must sell before the deal closes.

There is a range for the new offer price because the actual price paid will depend on how many Rite Aid stores Walgreens is required to sell. Also, some additional related assets would be sold if the regulator wants the companies to do to approve the merger.

Rite Aid Corporation (RAD) is an interesting player in the Services space, with a focus on Drug Stores. Stock price is down 20.98% since it reached the one year high price and is down $ -1.84 since then.

08/13/2015 - Bank of America Merrill Lynch began new coverage on Rite Aid Corporation giving the company a "buy" rating. However a year ago during same quarter Rite Aid Corporation (NYSE:RAD) reported $0.06 EPS.




The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in.

Shares of Walgreens were trading higher by 0.41 percent at $81.60 following the report.

Walgreens was the largest drugstore chain in the USA, with about 8,200 locations, when it agreed to buy No. 3 Rite Aid and its almost 4,600 US stores. That's down from the $9 a share Walgreens originally agreed to pay.

Several institutional investors have recently made changes to their positions in the stock. SevenBridge Financial Group LLC acquired a new position in shares of Rite Aid Corporation during the second quarter valued at $102,000. In the last six months the stock's performance plunged -0.57% while yearly performance of the company fell -9.77%.The company's year to date (YTD) performance is at -15.90%. They now have a United States dollars 10 price target on the stock.

The transaction is subject to approval by the holders of Rite Aid's common stock, as well as the expiration and termination of applicable waiting periods under the Hart-Scott-Rodino Antitrust Improvements Act and other customary conditions.

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