Truist Financial Trims Walgreens Boots Alliance (NASDAQ:WBA) Target Price to $10.00

by · The Markets Daily

Walgreens Boots Alliance (NASDAQ:WBA – Free Report) had its target price cut by Truist Financial from $13.00 to $10.00 in a research report report published on Monday morning, Benzinga reports. They currently have a hold rating on the pharmacy operator’s stock.

Several other brokerages also recently weighed in on WBA. Royal Bank of Canada reduced their price target on Walgreens Boots Alliance from $22.00 to $13.00 and set a sector perform rating on the stock in a report on Tuesday, July 2nd. Morgan Stanley decreased their target price on Walgreens Boots Alliance from $13.00 to $9.00 and set an underweight rating for the company in a research report on Friday, June 28th. Bank of America cut their price target on shares of Walgreens Boots Alliance from $11.00 to $7.50 and set an underperform rating on the stock in a report on Wednesday, September 4th. Evercore ISI decreased their price objective on shares of Walgreens Boots Alliance from $17.00 to $10.00 and set an in-line rating for the company in a report on Friday, June 28th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Walgreens Boots Alliance from $20.00 to $15.00 and set an overweight rating on the stock in a research note on Friday, August 30th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Walgreens Boots Alliance presently has an average rating of Hold and a consensus target price of $13.63.

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Walgreens Boots Alliance Stock Up 1.3 %

NASDAQ WBA opened at $9.03 on Monday. Walgreens Boots Alliance has a 52 week low of $8.22 and a 52 week high of $27.05. The firm has a market capitalization of $7.80 billion, a price-to-earnings ratio of -1.34, a PEG ratio of 0.99 and a beta of 0.70. The company has a quick ratio of 0.31, a current ratio of 0.65 and a debt-to-equity ratio of 0.49. The company has a fifty day moving average of $9.55 and a two-hundred day moving average of $13.61.

Institutional Investors Weigh In On Walgreens Boots Alliance

A number of hedge funds have recently made changes to their positions in the stock. Iron Horse Wealth Management LLC raised its holdings in 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 worth $25,000 after purchasing an additional 1,300 shares in the last quarter. Pineridge Advisors LLC purchased a new stake in Walgreens Boots Alliance during the fourth quarter valued at approximately $26,000. Blue Trust Inc. lifted its position in Walgreens Boots Alliance by 87.0% during the second quarter. Blue Trust Inc. now owns 2,324 shares of the pharmacy operator’s stock valued at $28,000 after acquiring an additional 1,081 shares during the last quarter. Continuum Advisory LLC lifted its position in Walgreens Boots Alliance by 71.2% during the second quarter. Continuum Advisory LLC now owns 2,453 shares of the pharmacy operator’s stock valued at $30,000 after acquiring an additional 1,020 shares during the last quarter. Finally, 1832 Asset Management L.P. lifted its position in Walgreens Boots Alliance by 282.1% during the fourth quarter. 1832 Asset Management L.P. now owns 1,219 shares of the pharmacy operator’s stock valued at $32,000 after acquiring an additional 900 shares during the last quarter. 58.59% of the stock is currently owned by hedge funds and other institutional investors.

Walgreens Boots Alliance Company Profile

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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.

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