Truist Financial Issues Positive Forecast for Walgreens Boots Alliance (NASDAQ:WBA) Stock Price

Walgreens Boots Alliance (NASDAQ:WBA) had its price objective boosted by Truist Financial from $10.00 to $13.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “hold” rating on the pharmacy operator’s stock. Truist Financial’s price objective points to a potential upside of 2.77% from the company’s current price.

Other analysts have also issued reports about the stock. Barclays increased their target price on shares of Walgreens Boots Alliance from $7.00 to $8.00 and gave the company an “underweight” rating in a research note on Wednesday, October 16th. UBS Group raised their target price on shares of Walgreens Boots Alliance from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Evercore ISI raised their price objective on shares of Walgreens Boots Alliance from $9.00 to $12.00 and gave the stock an “in-line” rating in a research note on Monday. Bank of America raised their target price on Walgreens Boots Alliance from $7.50 to $8.50 and gave the stock an “underperform” rating in a research report on Monday. Finally, Morgan Stanley lowered their target price 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. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $13.27.

Walgreens Boots Alliance Price Performance

WBA stock traded up $0.12 during trading on Thursday, hitting $12.65. The company had a trading volume of 4,013,536 shares, compared to its average volume of 29,669,785. Walgreens Boots Alliance has a fifty-two week low of $8.08 and a fifty-two week high of $23.76. The firm has a market capitalization of $10.92 billion, a price-to-earnings ratio of -1.24, a P/E/G ratio of 1.55 and a beta of 0.64. The business has a 50 day moving average of $9.36 and a 200 day moving average of $9.81. The company has a current ratio of 0.68, a quick ratio of 0.37 and a debt-to-equity ratio of 0.67.

Walgreens Boots Alliance (NASDAQ:WBA) last announced its quarterly earnings data 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 business had revenue of $39.50 billion during the quarter, compared to analyst estimates of $37.40 billion. Walgreens Boots Alliance had a positive return on equity of 14.23% and a negative net margin of 5.85%. The company’s revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.66 earnings per share. As a group, research analysts predict that Walgreens Boots Alliance will post 1.52 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. State Street Corp increased its stake in shares of Walgreens Boots Alliance by 18.0% in the third quarter. State Street Corp now owns 42,997,580 shares of the pharmacy operator’s stock valued at $385,258,000 after buying an additional 6,569,223 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Walgreens Boots Alliance by 43.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 10,969,188 shares of the pharmacy operator’s stock valued at $98,284,000 after acquiring an additional 3,329,857 shares during the last quarter. Two Sigma Advisers LP bought a new position in shares of Walgreens Boots Alliance in the 3rd quarter worth about $24,226,000. Newport Trust Company LLC bought a new stake in shares of Walgreens Boots Alliance during the 2nd quarter valued at about $31,028,000. Finally, Thompson Siegel & Walmsley LLC grew its stake in Walgreens Boots Alliance by 15.5% during the third quarter. Thompson Siegel & Walmsley LLC now owns 6,955,880 shares of the pharmacy operator’s stock worth $62,325,000 after purchasing an additional 934,754 shares during the period. 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.