Barclays Increases Walgreens Boots Alliance (NASDAQ:WBA) Price Target to $8.00

Walgreens Boots Alliance (NASDAQ:WBA) had its price target raised by Barclays from $7.00 to $8.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has an “underweight” rating on the pharmacy operator’s stock. Barclays‘s target price points to a potential downside of 27.73% from the company’s previous close.

WBA has been the topic of several other research reports. JPMorgan Chase & Co. cut their target price on shares of Walgreens Boots Alliance from $20.00 to $15.00 and set an “overweight” rating on the stock in a report on Friday, August 30th. Royal Bank of Canada cut their price objective 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. Truist Financial decreased their price objective on shares of Walgreens Boots Alliance from $13.00 to $10.00 and set a “hold” rating for the company in a report on Monday, October 7th. Morgan Stanley dropped their price target on Walgreens Boots Alliance from $9.00 to $7.00 and set an “underweight” rating on the stock in a research note on Friday, October 11th. Finally, UBS Group reduced their target price on shares of Walgreens Boots Alliance from $17.00 to $12.00 and set a “neutral” rating for the company in a report on Wednesday, July 3rd. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $13.54.

Walgreens Boots Alliance Stock Up 6.2 %

Shares of NASDAQ:WBA traded up $0.65 during mid-day trading on Wednesday, hitting $11.07. 49,583,105 shares of the company traded hands, compared to its average volume of 17,054,477. The company has a current ratio of 0.65, a quick ratio of 0.31 and a debt-to-equity ratio of 0.49. The stock has a 50-day moving average price of $9.40 and a two-hundred day moving average price of $13.23. Walgreens Boots Alliance has a 12-month low of $8.22 and a 12-month high of $27.05. The stock has a market cap of $9.56 billion, a P/E ratio of -1.64, a P/E/G ratio of 1.06 and a beta of 0.70.

Walgreens Boots Alliance (NASDAQ:WBA) last released its quarterly earnings data on Tuesday, October 15th. The pharmacy operator reported $0.39 EPS for the quarter, beating the consensus estimate of $0.36 by $0.03. Walgreens Boots Alliance had a negative net margin of 3.99% and a positive return on equity of 12.63%. The business had revenue of $37.50 billion for the quarter, compared to the consensus estimate of $35.75 billion. During the same period in the prior year, the firm earned $0.67 earnings per share. The company’s revenue was up 5.9% compared to the same quarter last year. On average, equities research analysts forecast that Walgreens Boots Alliance will post 2.85 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Scientech Research LLC purchased a new position in Walgreens Boots Alliance in the second quarter valued at approximately $1,215,000. Ariel Investments LLC grew its holdings in shares of Walgreens Boots Alliance by 10.8% during the second quarter. Ariel Investments LLC now owns 2,038,878 shares of the pharmacy operator’s stock worth $24,660,000 after buying an additional 198,891 shares during the last quarter. Clifford Capital Partners LLC increased its holdings in shares of Walgreens Boots Alliance by 58.4% in the second quarter. Clifford Capital Partners LLC now owns 803,204 shares of the pharmacy operator’s stock valued at $9,715,000 after purchasing an additional 296,135 shares during the period. EP Wealth Advisors LLC purchased a new position in Walgreens Boots Alliance during the fourth quarter worth about $297,000. Finally, Sanders Morris Harris LLC boosted its stake in shares of Walgreens Boots Alliance by 373.3% in the first quarter. Sanders Morris Harris LLC now owns 112,398 shares of the pharmacy operator’s stock valued at $2,438,000 after buying an additional 88,650 shares in the last quarter. Hedge funds and other institutional investors 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.