|Bid||6.01 x 200|
|Ask||6.03 x 100|
|Day's Range||5.62 - 6.05|
|52 Week Range||5.62 - 21.77|
|PE Ratio (TTM)||-2.14|
|Dividend & Yield||0.24 (3.72%)|
|1y Target Est||N/A|
For several reasons, Rite Aid now has the right prescription to heal the tough wounds investors have suffered over the past several years. The company’s valuation, currently at $2.4 billion, is a fraction of the $8.5 billion it was valued at in January when it had an offer on the table from Walgreens of $6.50 to $7.00 per share. This is even though both Rite Aid and Walgreens agreed to divest several stores to Fred’s, Inc. (NASDAQ:FRED) to make the deal more palatable.
Shares of Rite Aid Corporation (NYSE:RAD) have taken a beating in 2017, falling more than 70% so far on the year. What once looked like a slam dunk in a deal with Walgreens Boots Alliance Inc (NASDAQ:WBA) has now burned investors. After the FTC dragged out the WBA-RAD acquisition, WBA suddenly pulled out of the deal.
Fred's (FRED) is yet to recover from the cancelled Walgreens-Rite Aid merger. The company has also been struggling with declining sales owing to lower comps and store closures.