Albertsons to buy Rite Aid in cash-and-stock drugstore deal

Albertsons to buy Rite Aid in cash-and-stock drugstore deal

Albertsons to buy Rite Aid in cash-and-stock drugstore deal

The new company will capitalize on enhanced data and analytics to unlock profitable growth through new customer acquisition, new merchandising programs, and demand forecasting, Albertsons and Rite Aid said. They issued an "underperform" rating and a $1.50 price target for the company. Analyst's mean target price for RAD is $2.07 while analysts mean recommendation is 3.00.

"Drug retailing has had its own challenges with reimbursement pressure and weak front-end sales as evidenced in Rite-Aid's weak profits over the last couple of years, and competing with much larger and more diversified drug retailers like CVS and Walgreens will be a formidable challenge", wrote Moody's vice president Mickey Chadha, in an email sent to Food Dive. Dimensional Fund Limited Partnership holds 0% of its portfolio in Rite Aid Corporation (NYSE:RAD) for 4.75 million shares.

Rite Aid shareholders will have a choice whether to take all stock or a combination of stock and cash.

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COPYRIGHT VIOLATION WARNING: "Zacks Investment Research Upgrades Rite Aid (RAD) to Hold" was first reported by Week Herald and is owned by of Week Herald. Deutsche Bank assumed coverage on shares of Rite Aid in a research note on Monday, December 4th.

Analyst's ratings determines the future of any company. Finally, PointState Capital LP purchased a new position in shares of Rite Aid during the 2nd quarter valued at $221,000. The average 12 month target price among brokerages that have updated their coverage on the stock in the previous year is $2.75. Fort Pitt Capital Group LLC boosted its stake in Rite Aid by 37.8% in the 2nd quarter.

The company's consensus rating on Reuter's scale slipped from 2.21 to 2.17 during a month. "Under the deal, Rite Aid has the option of joining Walgreens' group purchasing agreement to negotiate discounts on generic drug prices". The company has a market cap of $2,270.00, a price-to-earnings ratio of 19.36 and a beta of 1.76. If you are reading this story on another site, it was stolen and republished in violation of US & global trademark & copyright laws.

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Brace yourself. Rite Aid Corporation (NYSE:RAD) is on the move. Rite Aid Corporation (NYSE:RAD) is presenting price to cash flow of 13.08 and free cash flow concluded as 5.21. The firm operates through Retail Pharmacy and Pharmacy Services divisions.

Albertsons Companies has said the Rite Aids will continue to be stand-alone stores, and most of Albertsons grocery stores will see their pharmacies rebranded as Rite Aids. If the deal is approved by shareholders and regulators and closes in the second half of 2018 as expected, the grocery chain - which has more than 2,300 stores in 35 states and the District of Columbia under the Albertsons, Safeway and other brands - would substantially expand its geographic footprint.

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