Barclays Lowers Walgreens Boots Alliance (NASDAQ:WBA) Price Target to $7.00

Walgreens Boots Alliance (NASDAQ:WBA) had its price target dropped by research analysts at Barclays from $11.00 to $7.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has an “underweight” rating on the pharmacy operator’s stock. Barclays‘s price objective would suggest a potential downside of 37.28% from the stock’s previous close.

Several other brokerages also recently issued reports on WBA. Raymond James reissued a “market perform” rating on shares of Walgreens Boots Alliance in a research report on Tuesday, March 26th. Morgan Stanley lowered their target price on shares of Walgreens Boots Alliance from $13.00 to $9.00 and set an “underweight” rating on the stock in a report on Friday, June 28th. Royal Bank of Canada lowered their target price on shares of Walgreens Boots Alliance from $22.00 to $13.00 and set a “sector perform” rating on the stock in a report on Tuesday, July 2nd. JPMorgan Chase & Co. lowered their target price on shares of Walgreens Boots Alliance from $30.00 to $20.00 and set an “overweight” rating on the stock in a report on Monday, July 1st. Finally, UBS Group lowered their target price on shares of Walgreens Boots Alliance from $17.00 to $12.00 and set a “neutral” rating on the stock in a report on Wednesday, July 3rd. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $16.86.

Walgreens Boots Alliance Trading Down 0.6 %

Shares of Walgreens Boots Alliance stock opened at $11.16 on Tuesday. Walgreens Boots Alliance has a 1 year low of $10.69 and a 1 year high of $31.32. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.31 and a current ratio of 0.65. The company has a market capitalization of $9.63 billion, a P/E ratio of -1.66, a PEG ratio of 0.79 and a beta of 0.72. The company’s fifty day moving average is $14.20 and its two-hundred day moving average is $18.36.

Walgreens Boots Alliance (NASDAQ:WBA) last issued its quarterly earnings data on Thursday, June 27th. The pharmacy operator reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.05). Walgreens Boots Alliance had a positive return on equity of 12.63% and a negative net margin of 3.99%. The business had revenue of $36.40 billion for the quarter, compared to analysts’ expectations of $35.94 billion. During the same period in the previous year, the business posted $1.00 earnings per share. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. Analysts forecast that Walgreens Boots Alliance will post 2.87 earnings per share for the current year.

Hedge Funds Weigh In On Walgreens Boots Alliance

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Silverleafe Capital Partners LLC acquired a new position in Walgreens Boots Alliance during the second quarter worth about $514,000. Lebenthal Global Advisors LLC grew its holdings in shares of Walgreens Boots Alliance by 4.5% during the second quarter. Lebenthal Global Advisors LLC now owns 35,943 shares of the pharmacy operator’s stock worth $435,000 after buying an additional 1,535 shares in the last quarter. Slagle Financial LLC purchased a new stake in shares of Walgreens Boots Alliance during the second quarter worth about $1,805,000. &PARTNERS grew its holdings in shares of Walgreens Boots Alliance by 38.5% during the second quarter. &PARTNERS now owns 29,835 shares of the pharmacy operator’s stock worth $361,000 after buying an additional 8,295 shares in the last quarter. Finally, Hennessy Advisors Inc. grew its holdings in shares of Walgreens Boots Alliance by 16.6% during the second quarter. Hennessy Advisors Inc. now owns 205,400 shares of the pharmacy operator’s stock worth $2,484,000 after buying an additional 29,300 shares in the last quarter. Institutional investors and hedge funds own 58.59% of the company’s stock.

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.