Royal Bank of Canada Cuts Walgreens Boots Alliance (NASDAQ:WBA) Price Target to $9.00

Walgreens Boots Alliance (NASDAQ:WBA) had its price target lowered by stock analysts at Royal Bank of Canada from $13.00 to $9.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “sector perform” rating on the pharmacy operator’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 6.26% from the stock’s previous close.

Several other analysts also recently commented on the company. TD Cowen reduced their target price on Walgreens Boots Alliance from $16.00 to $14.00 and set a “buy” rating for the company in a research note on Tuesday, October 22nd. Bank of America decreased their price objective on Walgreens Boots Alliance from $11.00 to $7.50 and set an “underperform” rating for the company in a report on Wednesday, September 4th. Evercore ISI increased their target price on Walgreens Boots Alliance from $7.50 to $10.00 and gave the stock an “in-line” rating in a report on Wednesday, October 16th. Jefferies Financial Group decreased their price target on shares of Walgreens Boots Alliance from $19.00 to $9.00 and set a “hold” rating for the company in a research note on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. dropped their price objective 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 research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $12.58.

Walgreens Boots Alliance Stock Down 3.1 %

Shares of Walgreens Boots Alliance stock opened at $8.47 on Wednesday. The firm has a market cap of $7.32 billion, a price-to-earnings ratio of -0.85, a PEG ratio of 1.17 and a beta of 0.66. The stock’s 50-day moving average is $9.17 and its 200 day moving average is $11.03. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.68 and a quick ratio of 0.37. Walgreens Boots Alliance has a one year low of $8.08 and a one year high of $27.05.

Walgreens Boots Alliance (NASDAQ:WBA) last released its quarterly earnings data on Tuesday, October 15th. The pharmacy operator reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.03. The company had revenue of $37.50 billion during the quarter, compared to analyst estimates of $35.75 billion. Walgreens Boots Alliance had a negative net margin of 5.85% and a positive return on equity of 14.23%. Walgreens Boots Alliance’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.67 EPS. Equities research analysts anticipate that Walgreens Boots Alliance will post 1.53 EPS for the current year.

Hedge Funds Weigh In On Walgreens Boots Alliance

Several institutional investors have recently modified their holdings of WBA. Iron Horse Wealth Management LLC boosted its position 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 during the last quarter. Blue Trust Inc. boosted its holdings in shares of Walgreens Boots Alliance by 87.0% in the 2nd 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 during the last quarter. TD Private Client Wealth LLC grew its position in Walgreens Boots Alliance by 8,670.3% during the third quarter. TD Private Client Wealth LLC now owns 3,245 shares of the pharmacy operator’s stock valued at $29,000 after buying an additional 3,208 shares during the period. Continuum Advisory LLC increased its holdings 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 worth $30,000 after buying an additional 1,020 shares during the last quarter. Finally, Sentry Investment Management LLC bought a new stake in Walgreens Boots Alliance in the third quarter worth about $30,000. 58.59% of the stock is owned by institutional investors.

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.