Walgreens Boots Alliance (NASDAQ:WBA) Trading Up 14% – Time to Buy?

Walgreens Boots Alliance, Inc. (NASDAQ:WBA) shares traded up 14% during trading on Tuesday . The stock traded as high as $10.38 and last traded at $10.26. 39,514,496 shares changed hands during mid-day trading, an increase of 137% from the average session volume of 16,644,746 shares. The stock had previously closed at $9.00.

Analysts Set New Price Targets

WBA has been the topic of a number of recent research reports. UBS Group dropped their price objective on Walgreens Boots Alliance from $17.00 to $12.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 3rd. Truist Financial lowered their price target on shares of Walgreens Boots Alliance from $13.00 to $10.00 and set a “hold” rating on the stock in a report on Monday, October 7th. Royal Bank of Canada reduced their price objective on shares of Walgreens Boots Alliance from $22.00 to $13.00 and set a “sector perform” rating for the company in a research note on Tuesday, July 2nd. Barclays lowered their target price on shares of Walgreens Boots Alliance from $11.00 to $7.00 and set an “underweight” rating for the company in a research note on Tuesday, July 23rd. Finally, Bank of America reduced their price target on Walgreens Boots Alliance from $11.00 to $7.50 and set an “underperform” rating on the stock in a research report on Wednesday, September 4th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $13.46.

Walgreens Boots Alliance Price Performance

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 $9.41 and a 200 day moving average price of $13.31. The stock has a market capitalization of $8.87 billion, a price-to-earnings ratio of -1.52, a PEG ratio of 1.04 and a beta of 0.70.

Institutional Trading of Walgreens Boots Alliance

Institutional investors have recently bought and sold shares of the business. Iron Horse Wealth Management LLC grew its position in shares of Walgreens Boots Alliance by 162.5% in the second quarter. Iron Horse Wealth Management LLC now owns 2,100 shares of the pharmacy operator’s stock valued at $25,000 after purchasing an additional 1,300 shares during the period. Blue Trust Inc. boosted its holdings in Walgreens Boots Alliance by 87.0% in the 2nd quarter. Blue Trust Inc. now owns 2,324 shares of the pharmacy operator’s stock worth $28,000 after buying an additional 1,081 shares during the last quarter. Continuum Advisory LLC increased its stake in Walgreens Boots Alliance by 71.2% during the 2nd quarter. Continuum Advisory LLC now owns 2,453 shares of the pharmacy operator’s stock worth $30,000 after buying an additional 1,020 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in shares of Walgreens Boots Alliance in the second quarter valued at approximately $34,000. Finally, New Covenant Trust Company N.A. acquired a new stake in shares of Walgreens Boots Alliance in the first quarter worth approximately $35,000. 58.59% of the stock is 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.