Walgreens Boots Alliance (NASDAQ:WBA) Price Target Raised to $12.00 at Royal Bank of Canada

Walgreens Boots Alliance (NASDAQ:WBA) had its price objective increased by stock analysts at Royal Bank of Canada from $9.00 to $12.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a “sector perform” rating on the pharmacy operator’s stock. Royal Bank of Canada’s price objective points to a potential downside of 1.64% from the company’s current price.

Several other equities research analysts have also recently commented on the company. Evercore ISI boosted their target price on Walgreens Boots Alliance from $9.00 to $12.00 and gave the stock an “in-line” rating in a report on Monday. Truist Financial decreased 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. Jefferies Financial Group cut their target price on shares of Walgreens Boots Alliance from $19.00 to $9.00 and set a “hold” rating for the company in a research note on Wednesday, October 23rd. Bank of America increased their price objective on Walgreens Boots Alliance from $7.50 to $8.50 and gave the company an “underperform” rating in a research report on Monday. Finally, Morgan Stanley decreased 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. Four analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $13.04.

Walgreens Boots Alliance Stock Down 0.3 %

WBA traded down $0.04 during trading on Wednesday, hitting $12.20. The company had a trading volume of 4,358,847 shares, compared to its average volume of 30,197,510. The company has a market cap of $10.53 billion, a PE ratio of -1.22, a P/E/G ratio of 1.36 and a beta of 0.64. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.68 and a quick ratio of 0.37. Walgreens Boots Alliance has a 1-year low of $8.08 and a 1-year high of $23.76. The business has a 50-day moving average of $9.36 and a 200-day moving average of $9.81.

Walgreens Boots Alliance (NASDAQ:WBA) last released its quarterly earnings results on Friday, January 10th. The pharmacy operator reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.13. Walgreens Boots Alliance had a positive return on equity of 14.23% and a negative net margin of 5.85%. The company had revenue of $39.50 billion for the quarter, compared to analysts’ expectations of $37.40 billion. During the same quarter in the previous year, the company posted $0.66 earnings per share. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, analysts forecast that Walgreens Boots Alliance will post 1.53 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. First Financial Corp IN grew its stake in shares of Walgreens Boots Alliance by 49.2% in the 4th quarter. First Financial Corp IN now owns 2,685 shares of the pharmacy operator’s stock valued at $25,000 after purchasing an additional 885 shares during the period. TD Private Client Wealth LLC grew its position in Walgreens Boots Alliance by 8,670.3% in the third quarter. TD Private Client Wealth LLC now owns 3,245 shares of the pharmacy operator’s stock valued at $29,000 after acquiring an additional 3,208 shares during the period. Sentry Investment Management LLC acquired a new stake in shares of Walgreens Boots Alliance in the 3rd quarter valued at $30,000. Eastern Bank bought a new stake in Walgreens Boots Alliance during the third quarter worth about $33,000. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in Walgreens Boots Alliance during the 2nd quarter valued at $34,000. 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.