Services Stocks Under Review -- Rite Aid, Walgreens Boots Alliance, Cardinal Health, and GNC Holdings
NEW YORK, November 16, 2016 /PRNewswire/ --
Stock-Callers.com brings its focus back on the Services sector which has accelerated in October due to solid domestic economic conditions and a surge in consumer confidence. Markit's final U.S. Services PMI Index came in at 54.8, up from 52.3 in September, the sector's strongest pace of growth in 11 months. Equities to assess today are: Rite Aid Corp. (NYSE: RAD), Walgreens Boots Alliance Inc. (NASDAQ: WBA), Cardinal Health Inc. (NYSE: CAH), and GNC Holdings Inc. (NYSE: GNC). Learn more about these stocks by downloading their free research reports in PDF format at:
Pennsylvania headquartered Rite Aid Corp.'s shares rose 3.03% and finished Tuesday's trading session at $7.48. A total volume of 17.19 million shares was traded, which was above their three months average volume of 16.23 million shares. In the last one month, the stock has advanced 6.25%. The Company's shares are trading above their 50-day moving average by 1.49%. Moreover, shares of Rite Aid, which through its subsidiaries, operates a chain of retail drugstores in the US, have a Relative Strength Index (RSI) of 61.70.
On November 14th, Rite Aid announced that Rite Aid stores nationwide would now offer American Express Card Members participating in the Membership Rewards® program the opportunity to use Membership Rewards® points for eligible purchases. Eligible American Express Card Members, who have accumulated enough Membership Rewards® points to pay for their purchase, will be prompted to use points for their purchases after they swipe, tap or insert a Membership Rewards-enrolled American Express Card in-store. Rite Aid is the first pharmacy chain to offer Card Members the opportunity to use Membership Rewards® points for their purchases. Sign up and read the free research report on RAD at:
Walgreens Boots Alliance
On Tuesday, shares in Deerfield, Illinois-based Walgreens Boots Alliance Inc. recorded a trading volume of 6.50 million shares, which was higher than their three months average volume of 4.48 million shares. The stock ended the session 1.86% higher at $83.28. The Company's shares have gained 6.76% in the last one month and 0.92% in the previous three months. The stock is trading 2.91% and 3.67% above its 50-day and 200-day moving averages, respectively. Furthermore, shares of Walgreens Boots Alliance, which operates as a pharmacy-led health and wellbeing company, have an RSI of 59.82.
On October 31st, 2016, research firm Wells Fargo initiated an 'Outperform' rating on the Company's stock.
As per notes filed with the SEC on November 04th, 2016, Walgreens Boots Alliance entered into an Underwriting Agreement on November 1st, 2016, with affiliates of Kohlberg Kravis Roberts & Co. L.P. (the "Selling Stockholders") and Goldman, Sachs & Co. with respect to a registered underwritten public offering of 20,461,215 shares of the Company's common stock, par value of $0.01 per share, to be sold by the Selling Stockholders. The complimentary research report on WBA can be downloaded at:
Shares in Dublin, Ohio headquartered Cardinal Health Inc. closed the day at $71.39, down 1.33%. The stock recorded a trading volume of 4.45 million shares, which was above its three months average volume of 2.73 million shares. The Company's shares are trading 4.22% below their 50-day moving average. Additionally, shares of Cardinal Health, which operates as a healthcare services and products company worldwide, have an RSI of 49.83.
On October 28th, 2016, research firm Robert W. Baird downgraded the Company's stock rating from 'Outperform' to 'Neutral'. The research firm also revised downwards its previous target price from $92 to $82.
On November 03rd, 2016, Cardinal Health announced that its board of directors approved a regular quarterly dividend of $0.4489 per share, payable January 15th, 2017, to shareholders of record on January 3rd, 2017. Register for free on Stock-Callers.com and access the latest report on CAH at:
At the closing bell yesterday, shares in Pittsburgh, Pennsylvania headquartered GNC Holdings Inc. ended 1.01% lower at $14.75 and with a total trading volume of 1.84 million shares. The stock is trading below its 50-day moving average by 21.60%. Shares of the Company, which together with its subsidiaries, operates as a specialty retailer of health, wellness, and performance products, have an RSI of 38.61.
On October 27th, 2016, GNC Holdings reported consolidated revenue of $628.0 million, a decrease of 8.1% as compared with consolidated revenue of $683.4 million for Q3 2015. The company's same store sales decreased 8.5% in domestic company-owned stores (including GNC.com sales) in Q3 2016. For the reported quarter, the Company reported net income of $32.4 million compared with net income of $45.8 million in Q3 2015.
On October 28th, 2016, research firm Deutsche Bank reiterated its 'Hold' rating on the Company's stock with a decrease of the target price from $22 a share to $16 a share. Get free access to your research report on GNC at:
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