Truist Financial Cuts Walgreens Boots Alliance (NASDAQ:WBA) Price Target to $12.00

Walgreens Boots Alliance (NASDAQ:WBA) had its target price decreased by 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 price objective would suggest a potential upside of 18.87% from the company’s current price.

WBA has been the subject of several other reports. Morgan Stanley cut their price target on Walgreens Boots Alliance from $9.00 to $7.00 and set an “underweight” rating for the company in a research note on Friday, October 11th. Barclays lifted their price target on shares of Walgreens Boots Alliance from $7.00 to $8.00 and gave the company an “underweight” rating in a report on Wednesday, October 16th. UBS Group upped their target price on Walgreens Boots Alliance from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Jefferies Financial Group dropped their price target 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. Finally, TD Cowen cut their price objective on Walgreens Boots Alliance from $16.00 to $14.00 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $13.19.

Walgreens Boots Alliance Stock Performance

NASDAQ:WBA traded down $1.37 on Friday, hitting $10.10. The company’s stock had a trading volume of 44,292,822 shares, compared to its average volume of 28,979,738. The company has a current ratio of 0.64, a quick ratio of 0.30 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $8.72 billion, a P/E ratio of -0.98, a price-to-earnings-growth ratio of 1.41 and a beta of 0.64. Walgreens Boots Alliance has a one year low of $8.08 and a one year high of $23.76. The stock has a fifty day moving average of $10.09 and a two-hundred day moving average of $9.88.

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 the consensus estimate of $0.38 by $0.13. The firm had revenue of $39.50 billion for the quarter, compared to analysts’ expectations of $37.40 billion. Walgreens Boots Alliance had a negative net margin of 5.87% and a positive return on equity of 17.61%. The business’s revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.66 EPS. Research analysts predict that Walgreens Boots Alliance will post 1.6 earnings per share for the current year.

Institutional Trading of Walgreens Boots Alliance

A number of hedge funds and other institutional investors have recently bought and sold shares of WBA. Charles Schwab Investment Management Inc. increased its stake in Walgreens Boots Alliance by 43.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 10,969,188 shares of the pharmacy operator’s stock valued at $98,284,000 after buying an additional 3,329,857 shares during the last quarter. Altrius Capital Management Inc raised its holdings in Walgreens Boots Alliance by 76.6% during the 3rd quarter. Altrius Capital Management Inc now owns 440,483 shares of the pharmacy operator’s stock valued at $3,947,000 after acquiring an additional 190,996 shares during the period. PNC Financial Services Group Inc. lifted its holdings in Walgreens Boots Alliance by 23.4% during the 3rd quarter. PNC Financial Services Group Inc. now owns 340,431 shares of the pharmacy operator’s stock worth $3,050,000 after purchasing an additional 64,586 shares in the last quarter. Sasco Capital Inc. CT boosted its position in shares of Walgreens Boots Alliance by 13.6% in the third quarter. Sasco Capital Inc. CT now owns 1,041,440 shares of the pharmacy operator’s stock valued at $9,331,000 after acquiring an additional 124,950 shares during the period. Finally, Sunbelt Securities Inc. grew its position in shares of Walgreens Boots Alliance by 82.8% during the 3rd quarter. Sunbelt Securities Inc. now owns 139,377 shares of the pharmacy operator’s stock valued at $1,249,000 after purchasing an additional 63,149 shares in the last quarter. Institutional investors own 58.59% of the company’s stock.

Walgreens Boots Alliance Company Profile

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.