Today’s Research Reports on Trending Tickers: Kroger Company and Rite Aid Corporation
All three major indexes closed at record highs Wednesday after minutes from the most recent Federal Reserve Meeting suggested a December rate hike was not certain. The Dow Jones Industrial Average gained 0.18 percent to close at a record 22,872.89, while the S&P 500 Index increased 0.18 percent to close at a record 2,555.24. The Nasdaq Composite Index rose 0.25 percent to close at a record 6,603.55.
“What is telling about these minutes is the growing rift among Fed officials and the notion that a December hike is anything but guaranteed. We do know the Fed has a rate destination in mind, and a stated goal of three this year, but it still may be too early to tell if it will be this year or next,“ said Mike Loewengart, vice president of investment strategy at E*Trade, according to MarketWatch.
RDI Initiates Coverage on:
Rite Aid Corporation
Kroger Company’s stock moved 1.22% higher Wednesday, to close the day at $20.78. The stock recorded a trading volume of 43,523,940 shares, which was above its three months average volume of 13,688,200 shares. In the last year Kroger Company’s shares have traded in a range of 19.69 – 36.44. The stock is currently trading 42.97% below its 52 week high. The company’s shares are currently trading below their 200-day moving average. Moreover, the stock’s 50-day moving average of $21.22 is below its 200-day moving average of $25.33. Shares of the company are trading at a Price to Earnings ratio of 12.57. Shares of Kroger have fallen approximately 37.08 percent year-to-date.
Access RDI’s Kroger Company Research Report at:
On Wednesday, shares in Rite Aid Corporation recorded a trading volume of 40,206,788 shares, which was above the three months average volume of 27,819,300 shares. The stock ended the day 4.30% lower at 1.78. The stock is currently trading 79.70% below its 52 week high with a 52 week trading range of 1.75 – 8.77.The company’s shares are currently trading below their 200-day moving average. Moreover, the stock’s 50-day moving average of $2.30 is below its 200-day moving average of $3.07. Shares of the company are trading at a Price to Earnings ratio of 21.19. Shares of Rite Aid have fallen approximately 77.55 percent year-to-date.
Access RDI’s Rite Aid Corporation Research Report at:
Our Actionable Research on Kroger Company (NYSE:KR) and Rite Aid Corporation (NYSE:RAD) can be downloaded free of charge at Research Driven Investing.
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