Walgreens Boots Alliance (NASDAQ:WBA) Upgraded to “Hold” at Wolfe Research

Wolfe Research upgraded shares of Walgreens Boots Alliance (NASDAQ:WBA) to a hold rating in a research report released on Monday morning,Zacks.com reports.

A number of other analysts have also issued reports on WBA. Royal Bank of Canada lifted 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 note on Wednesday, January 15th. Truist Financial dropped their price target on shares of Walgreens Boots Alliance from $13.00 to $12.00 and set a “hold” rating on the stock in a research note on Friday, January 31st. Evercore ISI upped their price objective on shares of Walgreens Boots Alliance from $9.00 to $12.00 and gave the company an “in-line” rating in a research report on Monday, January 13th. Finally, Bank of America lifted 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, January 13th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $12.63.

Walgreens Boots Alliance Stock Up 6.5 %

Shares of Walgreens Boots Alliance stock opened at $10.82 on Monday. Walgreens Boots Alliance has a twelve month low of $8.08 and a twelve month high of $22.05. The stock has a market cap of $9.35 billion, a price-to-earnings ratio of -1.06, a price-to-earnings-growth ratio of 1.31 and a beta of 0.65. 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 company has a fifty day moving average price of $10.38 and a 200 day moving average price of $9.70.

Walgreens Boots Alliance (NASDAQ:WBA) last issued its earnings results on Friday, January 10th. The pharmacy operator reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.13. The company 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 company’s revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.66 earnings per share. Equities research analysts forecast that Walgreens Boots Alliance will post 1.6 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in WBA. First Financial Corp IN lifted its stake in Walgreens Boots Alliance by 49.2% during the fourth quarter. First Financial Corp IN now owns 2,685 shares of the pharmacy operator’s stock worth $25,000 after purchasing an additional 885 shares during the last quarter. Golden State Wealth Management LLC bought a new stake in Walgreens Boots Alliance during the fourth quarter valued at $26,000. Riverview Trust Co raised its holdings in shares of Walgreens Boots Alliance by 123.8% during the fourth quarter. Riverview Trust Co now owns 2,874 shares of the pharmacy operator’s stock worth $27,000 after purchasing an additional 1,590 shares during the period. Colonial Trust Co SC boosted its holdings in shares of Walgreens Boots Alliance by 79.5% in the 4th quarter. Colonial Trust Co SC now owns 2,928 shares of the pharmacy operator’s stock valued at $27,000 after buying an additional 1,297 shares during the period. Finally, Venturi Wealth Management LLC acquired a new position in shares of Walgreens Boots Alliance in the 4th quarter valued at about $28,000. 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.