Walgreens Boots Alliance (NASDAQ:WBA) Price Target Raised to $10.00

Walgreens Boots Alliance (NASDAQ:WBA) had its price objective raised by UBS Group from $9.00 to $10.00 in a report published on Thursday morning, Benzinga reports. UBS Group currently has a neutral rating on the pharmacy operator’s stock.

Several other equities research analysts have also recently issued reports on WBA. JPMorgan Chase & Co. cut their price target on Walgreens Boots Alliance from $20.00 to $15.00 and set an “overweight” rating for the company in a research note on Friday, August 30th. Evercore ISI lifted their price objective on shares of Walgreens Boots Alliance from $7.50 to $10.00 and gave the company an “in-line” rating in a research note on Wednesday. Morgan Stanley reduced their target price on Walgreens Boots Alliance from $9.00 to $7.00 and set an “underweight” rating on the stock in a report on Friday, October 11th. Royal Bank of Canada lowered their price target on Walgreens Boots Alliance from $22.00 to $13.00 and set a “sector perform” rating for the company in a report on Tuesday, July 2nd. Finally, Truist Financial lowered their target price on Walgreens Boots Alliance from $13.00 to $10.00 and set a “hold” rating for the company in a research note on Monday, October 7th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $13.38.

Walgreens Boots Alliance Stock Performance

Shares of WBA stock opened at $10.79 on Thursday. The company has a market capitalization of $9.31 billion, a price-to-earnings ratio of -1.60, a PEG ratio of 1.06 and a beta of 0.70. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.31 and a current ratio of 0.65. Walgreens Boots Alliance has a 52 week low of $8.22 and a 52 week high of $27.05. The company has a 50-day simple moving average of $9.41 and a 200 day simple moving average of $13.10.

Walgreens Boots Alliance (NASDAQ:WBA) last announced its earnings results on Tuesday, October 15th. The pharmacy operator reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.03. Walgreens Boots Alliance had a positive return on equity of 12.63% and a negative net margin of 3.99%. The company had revenue of $37.50 billion for the quarter, compared to analyst estimates of $35.75 billion. During the same quarter last year, the company earned $0.67 earnings per share. The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. On average, sell-side analysts predict that Walgreens Boots Alliance will post 2.85 earnings per share for the current year.

Institutional Investors Weigh In On Walgreens Boots Alliance

Several large investors have recently modified their holdings of the company. EP Wealth Advisors LLC acquired a new position in shares of Walgreens Boots Alliance during the fourth quarter valued at about $297,000. Wellington Management Group LLP increased its position in shares of Walgreens Boots Alliance by 412.3% during the fourth quarter. Wellington Management Group LLP now owns 58,261 shares of the pharmacy operator’s stock worth $1,521,000 after acquiring an additional 46,889 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in shares of Walgreens Boots Alliance in the 4th quarter worth about $837,000. CWM LLC lifted its position in Walgreens Boots Alliance by 3.6% in the 1st quarter. CWM LLC now owns 32,397 shares of the pharmacy operator’s stock valued at $703,000 after acquiring an additional 1,138 shares in the last quarter. Finally, Alaska Permanent Fund Corp increased its holdings in Walgreens Boots Alliance by 29.3% during the 1st quarter. Alaska Permanent Fund Corp now owns 102,423 shares of the pharmacy operator’s stock worth $2,222,000 after purchasing an additional 23,211 shares in the last quarter. 58.59% of the stock is currently owned by institutional investors and hedge funds.

About Walgreens Boots Alliance

Walgreens Boots Alliance, Inc operates as a healthcare, pharmacy, and retail company in the United States, the United Kingdom, Germany, and internationally. It operates through three segments: U.S. Retail Pharmacy, International, and U.S. Healthcare. The U.S. Retail Pharmacy segment engages in operation of the retail drugstores, health and wellness services, specialty, and home delivery pharmacy services, which offers health and wellness, beauty, personal care and consumables, and general merchandise.