Walgreens Boots Alliance (NASDAQ:WBA) PT Lowered to $7.00 at Barclays

Walgreens Boots Alliance (NASDAQ:WBA) had its target price dropped by equities researchers at Barclays from $11.00 to $7.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has an “underweight” rating on the pharmacy operator’s stock. Barclays‘s price objective would suggest a potential downside of 37.28% from the stock’s current price.

Other equities analysts have also issued research reports about the stock. Royal Bank of Canada cut their price objective on shares of Walgreens Boots Alliance from $22.00 to $13.00 and set a “sector perform” rating on the stock in a research report on Tuesday, July 2nd. Evercore ISI cut their price objective on shares of Walgreens Boots Alliance from $17.00 to $10.00 and set an “in-line” rating on the stock in a research report on Friday, June 28th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Walgreens Boots Alliance from $23.00 to $22.00 and set a “hold” rating on the stock in a research report on Wednesday, April 3rd. Truist Financial cut their price objective on shares of Walgreens Boots Alliance from $20.00 to $13.00 and set a “hold” rating on the stock in a research report on Friday, June 28th. Finally, Raymond James reaffirmed a “market perform” rating on shares of Walgreens Boots Alliance in a research report on Tuesday, March 26th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Walgreens Boots Alliance presently has an average rating of “Hold” and a consensus price target of $16.86.

Walgreens Boots Alliance Stock Performance

WBA stock opened at $11.16 on Tuesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.31 and a current ratio of 0.65. The stock has a market cap of $9.63 billion, a P/E ratio of -1.66, a P/E/G ratio of 0.79 and a beta of 0.72. The firm has a 50 day simple moving average of $14.20 and a 200 day simple moving average of $18.36. Walgreens Boots Alliance has a 52 week low of $10.69 and a 52 week high of $31.32.

Walgreens Boots Alliance (NASDAQ:WBA) last posted its quarterly earnings results on Thursday, June 27th. The pharmacy operator reported $0.63 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.05). The company had revenue of $36.40 billion for the quarter, compared to analyst estimates of $35.94 billion. Walgreens Boots Alliance had a positive return on equity of 12.63% and a negative net margin of 3.99%. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.00 earnings per share. Research analysts anticipate that Walgreens Boots Alliance will post 2.87 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Walgreens Boots Alliance

A number of institutional investors and hedge funds have recently bought and sold shares of WBA. Iron Horse Wealth Management LLC increased its position in Walgreens Boots Alliance by 162.5% during the second quarter. Iron Horse Wealth Management LLC now owns 2,100 shares of the pharmacy operator’s stock worth $25,000 after acquiring an additional 1,300 shares during the period. Highlander Capital Management LLC acquired a new stake in Walgreens Boots Alliance during the fourth quarter worth $26,000. Pineridge Advisors LLC acquired a new stake in Walgreens Boots Alliance during the fourth quarter worth $26,000. Venturi Wealth Management LLC boosted its stake in Walgreens Boots Alliance by 1,241.8% during the fourth quarter. Venturi Wealth Management LLC now owns 1,060 shares of the pharmacy operator’s stock worth $28,000 after buying an additional 981 shares in the last quarter. Finally, Blue Trust Inc. boosted its stake 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 worth $28,000 after buying an additional 1,081 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.