Momentum Stock: Rite Aid Corporation (NYSE:RAD)

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.

Related news:

Hot News

Florida airport shooting suspect set to enter plea
Jan 31, 2017 - 01:00
Santiago is accused of killing five people: Shirley Wells Timmons, 70; Mary Louise Amzibel, 69; Michael John Oehme, 57; Olga M. The judge asked if he understood that if convicted of the most serious charges, he could face life in prison or death.

Former secretary of Nazi propagandist Goebbels dies at 106
Jan 31, 2017 - 00:58
Unless you end up blaming the entire German population for ultimately enabling that government to take control. She said the objective of the film was "for future generations to be informed about all these things".

isis-killer-beheading-video-story-top Trump Reaffirms US Commitment to North Atlantic Treaty Organisation in Conversation With Hollande
Jan 31, 2017 - 00:58
The language on North Atlantic Treaty Organisation came after Trump called the alliance "obsolete", but it highlighted the need for reforms and updates.

Iran protests Trump's visa ban - agency
Jan 31, 2017 - 00:58
Trump's Iranian entry ban is the latest spat in what appears to be simmering tensions between Washington and Tehran. A White House official later named the restricted countries as Iran, Iraq, Syria, Sudan, Libya, Yemen and Somalia.

AG Ferguson seeks halt to Trump's immigration Executive Order
Jan 31, 2017 - 00:57
Ferguson's lawsuit is broader in scope and seeks to invalidate entire sections of the Executive Order nationwide. One is a citizen of Sudan and the other a citizen of Yemen, both countries named in Trump's order.

Emma Stone, Jonah Hill Have 'Superbad' Reunion at SAG Awards
Jan 31, 2017 - 00:57
No matter how flustered you get in life, you will probably never be Emma-Stone-recieving-a-SAG-Award-level flustered. Even her La La Land co-star Ryan Gosling looked a little confused, frowning as he looked on from the audience.

isis-killer-beheading-video-story-top Trump orders Pentagon to send plan to defeat ISIS within 30 days
Jan 30, 2017 - 01:13
Speaking at the Pentagon after the ceremony, Mattis said Trump had been clear about his commitment to a strong national defense. He claimed he knew more than US generals and had a secret plan to fight the group.

isis-killer-beheading-video-story-top Emmanuelle Riva, Oscar-Nominated French Actress Dead at 89
Jan 30, 2017 - 01:12
The oldest nominated actress in Oscars history, French legend Emmanuelle Riva, has died at the age of 89. However it was her role in 2012's Amour which, at the age of 85, finally found her global recognition.

Selena Gomez and The Weeknd Head to Italy on Vacation Together
Jan 30, 2017 - 01:08
Selena and Abel's relationship is said to have come about after the pair started "working on very sexy music" together. Selena Gomez can be seen clearly clutching The Weeknd's arm, as they admired the fine art work on display.

Trump draft order seeks review on terror interrogations, "black site" prisons
Jan 30, 2017 - 01:07
In the current political context, though, argument about the practice turns not only on its morality, but its efficacy. The Arizona senator was held captive during the Vietnam War - for which Mr Trump ridiculed him during the campaign.

isis-killer-beheading-video-story-top Alan Thicke picked brother over Robin in will shocker
Jan 30, 2017 - 01:07
When they were married, Patton has charged that Thicke cheated on her often, and sometimes even when she was just in another room. According to TMZ , Patton told the judge that Thicke punched and shoved her to the ground at the 2013 Cannes Film Festival.

isis-killer-beheading-video-story-top Al Shabaab kills 57 Kenya soldiers, overruns base
Jan 30, 2017 - 01:05
Al-Shabab has been fighting for years to impose its strict interpretation of Islam on Somalia. Kenya's military spokesman denied the figure but refused to give an official death toll.

Analyst Recommendations And Revisions: Spectra Energy Corp (NYSE:SE)
Jan 29, 2017 - 01:20
The Company operates in West Texas, New Mexico, Utah, Nevada, Oklahoma, Wyoming, Kansas, Arizona, Idaho and Washington. The company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.44 by $0.11.

Pep Guardiola reacts to Manchester City win over Crystal Palace
Jan 29, 2017 - 01:19
Allardyce also confirmed the Eagles are "very, very close" to signing Patrick van Aanholt from Sunderland and he expects to sign two more before the deadline.

isis-killer-beheading-video-story-top Refugees Detained At US Airports After Trump Signed Executive Order
Jan 29, 2017 - 01:19
Kennedy International Airport and other airports Saturday amid confusion about whether they could legally enter the country. Lawyers say dozens of travelers from countries named in President Trump's recent executive order were held at John F.