Walgreens Boots Alliance (NASDAQ:WBA) Price Target Cut to $9.00 by Analysts at Jefferies Financial Group

Walgreens Boots Alliance (NASDAQ:WBA) had its price objective decreased by Jefferies Financial Group from $19.00 to $9.00 in a research report released on Wednesday, Benzinga reports. Jefferies Financial Group currently has a hold rating on the pharmacy operator’s stock.

A number of other brokerages have also weighed in on WBA. Evercore ISI boosted their target price on Walgreens Boots Alliance from $7.50 to $10.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 16th. Royal Bank of Canada lowered 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. UBS Group lifted their target price on shares of Walgreens Boots Alliance from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Morgan Stanley lowered their price target on Walgreens Boots Alliance from $9.00 to $7.00 and set an “underweight” rating on the stock in a report on Friday, October 11th. Finally, JPMorgan Chase & Co. cut their price objective on Walgreens Boots Alliance from $20.00 to $15.00 and set an “overweight” rating for the company in a report on Friday, August 30th. Four investment 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. According to data from MarketBeat, Walgreens Boots Alliance currently has an average rating of “Hold” and an average target price of $12.88.

Walgreens Boots Alliance Stock Performance

Shares of NASDAQ WBA opened at $9.35 on Wednesday. The firm’s 50 day moving average price is $9.37 and its 200-day moving average price is $12.91. Walgreens Boots Alliance has a 52-week low of $8.22 and a 52-week high of $27.05. The company has a current ratio of 0.68, a quick ratio of 0.37 and a debt-to-equity ratio of 0.67.

Walgreens Boots Alliance (NASDAQ:WBA) last released its quarterly earnings data on Tuesday, October 15th. The pharmacy operator reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.03. The business had revenue of $37.50 billion for the quarter, compared to analysts’ expectations of $35.75 billion. Walgreens Boots Alliance had a positive return on equity of 14.23% and a negative net margin of 5.85%. The firm’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.67 EPS. On average, research analysts forecast that Walgreens Boots Alliance will post 1.57 earnings per share for the current year.

Institutional Investors Weigh In On Walgreens Boots Alliance

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Iron Horse Wealth Management LLC boosted its position in shares of 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 period. Blue Trust Inc. lifted its stake in shares of Walgreens Boots Alliance by 87.0% during the 2nd quarter. Blue Trust Inc. now owns 2,324 shares of the pharmacy operator’s stock valued at $28,000 after buying an additional 1,081 shares in the last quarter. Continuum Advisory LLC boosted its holdings in Walgreens Boots Alliance by 71.2% in the 2nd 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 period. Eastern Bank purchased a new stake in Walgreens Boots Alliance in the 3rd quarter worth $33,000. Finally, Strategic Investment Solutions Inc. IL bought a new stake in Walgreens Boots Alliance during the second quarter valued at about $34,000. 58.59% of the stock is owned by hedge funds and other 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.