Evercore ISI Raises Walgreens Boots Alliance (NASDAQ:WBA) Price Target to $10.00

Walgreens Boots Alliance (NASDAQ:WBA) had its price target lifted by Evercore ISI from $7.50 to $10.00 in a research note released on Wednesday, Benzinga reports. They currently have an in-line rating on the pharmacy operator’s stock.

Several other equities research analysts have also commented on WBA. Royal Bank of Canada cut their price target on shares of Walgreens Boots Alliance from $22.00 to $13.00 and set a “sector perform” rating for the company in a report on Tuesday, July 2nd. Bank of America dropped their price objective on Walgreens Boots Alliance from $11.00 to $7.50 and set an “underperform” rating for the company in a research note on Wednesday, September 4th. Barclays lowered their price objective on Walgreens Boots Alliance from $11.00 to $7.00 and set an “underweight” rating for the company in a research report on Tuesday, July 23rd. TD Cowen dropped their target price on shares of Walgreens Boots Alliance from $22.00 to $16.00 and set a “buy” rating on the stock in a research report on Thursday, September 12th. Finally, Truist Financial dropped their price objective on shares of Walgreens Boots Alliance from $13.00 to $10.00 and set a “hold” rating on the stock in a research note on Monday, October 7th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $13.38.

Walgreens Boots Alliance Trading Up 1.2 %

Shares of WBA opened at $10.79 on Wednesday. The company’s fifty day simple moving average is $9.41 and its 200-day simple moving average is $13.10. Walgreens Boots Alliance has a twelve month low of $8.22 and a twelve month high of $27.05. 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 company has a market cap of $9.31 billion, a P/E ratio of -1.60, a P/E/G ratio of 1.06 and a beta of 0.70.

Walgreens Boots Alliance (NASDAQ:WBA) last announced its earnings results on Tuesday, October 15th. The pharmacy operator reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.03. Walgreens Boots Alliance had a negative net margin of 3.99% and a positive return on equity of 12.63%. The business had revenue of $37.50 billion during the quarter, compared to the consensus estimate of $35.75 billion. During the same period in the previous year, the company posted $0.67 earnings per share. The firm’s revenue was up 5.9% on a year-over-year basis. As a group, analysts expect that Walgreens Boots Alliance will post 2.85 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of WBA. Scientech Research LLC bought a new position in Walgreens Boots Alliance during the second quarter valued at about $1,215,000. Ariel Investments LLC grew its holdings in shares of Walgreens Boots Alliance by 10.8% in the second quarter. Ariel Investments LLC now owns 2,038,878 shares of the pharmacy operator’s stock worth $24,660,000 after purchasing an additional 198,891 shares during the last quarter. Exchange Traded Concepts LLC bought a new position in shares of Walgreens Boots Alliance during the third quarter valued at approximately $795,000. Clifford Capital Partners LLC boosted its position in Walgreens Boots Alliance by 58.4% during the 2nd quarter. Clifford Capital Partners LLC now owns 803,204 shares of the pharmacy operator’s stock valued at $9,715,000 after acquiring an additional 296,135 shares in the last quarter. Finally, EP Wealth Advisors LLC bought a new stake in shares of Walgreens Boots Alliance in the 4th quarter worth approximately $297,000. 58.59% of the stock is currently owned by institutional investors.

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.