Walgreens Boots Alliance (NASDAQ:WBA) Price Target Cut to $12.00 by Analysts at Truist Financial

Walgreens Boots Alliance (NASDAQ:WBA) had its target price decreased by research analysts at Truist Financial from $13.00 to $12.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “hold” rating on the pharmacy operator’s stock. Truist Financial’s target price suggests a potential upside of 18.87% from the stock’s previous close.

A number of other research firms have also commented on WBA. UBS Group raised their price objective on shares of Walgreens Boots Alliance from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Royal Bank of Canada raised their price objective on shares of Walgreens Boots Alliance from $9.00 to $12.00 and gave the company a “sector perform” rating in a research report on Wednesday, January 15th. Evercore ISI upped their price target on Walgreens Boots Alliance from $9.00 to $12.00 and gave the stock an “in-line” rating in a research note on Monday, January 13th. TD Cowen dropped their target price on shares of Walgreens Boots Alliance from $16.00 to $14.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. Finally, Jefferies Financial Group reduced their price objective on Walgreens Boots Alliance from $19.00 to $9.00 and set a “hold” rating for the company in a research report on Wednesday, October 23rd. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Walgreens Boots Alliance has an average rating of “Hold” and an average price target of $13.19.

Walgreens Boots Alliance Stock Performance

Shares of WBA traded down $1.37 during trading hours on Friday, reaching $10.10. 44,292,822 shares of the company’s stock traded hands, compared to its average volume of 28,979,738. Walgreens Boots Alliance has a twelve month low of $8.08 and a twelve month high of $23.76. The business’s fifty day simple moving average is $10.09 and its two-hundred day simple moving average is $9.88. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.64 and a quick ratio of 0.30. The firm has a market capitalization of $8.72 billion, a price-to-earnings ratio of -0.98, a P/E/G ratio of 1.41 and a beta of 0.64.

Walgreens Boots Alliance (NASDAQ:WBA) last released its earnings results on Friday, January 10th. The pharmacy operator reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.13. The firm had revenue of $39.50 billion during the quarter, compared to the consensus estimate of $37.40 billion. Walgreens Boots Alliance had a positive return on equity of 17.61% and a negative net margin of 5.87%. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.66 earnings per share. Analysts predict that Walgreens Boots Alliance will post 1.6 earnings per share for the current year.

Institutional Trading of Walgreens Boots Alliance

Hedge funds have recently modified their holdings of the company. Brooklyn Investment Group lifted its holdings in Walgreens Boots Alliance by 21.1% during the 4th quarter. Brooklyn Investment Group now owns 4,757 shares of the pharmacy operator’s stock worth $44,000 after buying an additional 830 shares in the last quarter. First Financial Corp IN raised its position 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 acquiring an additional 885 shares during the period. Sequoia Financial Advisors LLC boosted its position in shares of Walgreens Boots Alliance by 4.4% during the third quarter. Sequoia Financial Advisors LLC now owns 25,215 shares of the pharmacy operator’s stock worth $226,000 after purchasing an additional 1,063 shares in the last quarter. Lincluden Management Ltd. lifted its holdings in Walgreens Boots Alliance by 0.4% during the third quarter. Lincluden Management Ltd. now owns 264,644 shares of the pharmacy operator’s stock worth $2,371,000 after acquiring an additional 1,074 shares in the last quarter. Finally, CWA Asset Management Group LLC grew its position in shares of Walgreens Boots Alliance by 9.2% in the 4th quarter. CWA Asset Management Group LLC now owns 12,893 shares of the pharmacy operator’s stock valued at $120,000 after purchasing an additional 1,084 shares during the period. 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.