Walgreens Boots Alliance (NASDAQ:WBA – Get Rating) was upgraded by JPMorgan Chase & Co. from a "neutral" rating to an "overweight" rating in a research report issued on Friday, Marketbeat reports. The firm presently has a $42.00 price objective on the pharmacy operator's stock. JPMorgan Chase & Co.'s price objective indicates a potential upside of 5.66% from the company's current price.
Several other equities analysts also recently commented on the stock. Truist Financial increased their price objective on shares of Walgreens Boots Alliance from $38.00 to $44.00 in a research note on Tuesday, November 8th. Deutsche Bank Aktiengesellschaft raised shares of Walgreens Boots Alliance from a "hold" rating to a "buy" rating and increased their price objective for the company from $41.00 to $50.00 in a research note on Friday, November 11th. Royal Bank of Canada dropped their price target on shares of Walgreens Boots Alliance from $42.00 to $36.00 and set a "sector perform" rating for the company in a research note on Wednesday, October 19th. Mizuho dropped their price target on shares of Walgreens Boots Alliance to $36.00 in a research note on Thursday, October 13th. Finally, Credit Suisse Group dropped their price target on shares of Walgreens Boots Alliance from $43.00 to $42.00 and set a "neutral" rating for the company in a research note on Friday, October 14th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $42.54.
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Walgreens Boots Alliance Stock Performance
NASDAQ WBA opened at $39.75 on Friday. The firm has a market capitalization of $34.38 billion, a price-to-earnings ratio of 7.95, a P/E/G ratio of 1.78 and a beta of 0.71. The company has a current ratio of 0.75, a quick ratio of 0.38 and a debt-to-equity ratio of 0.36. The firm's 50 day simple moving average is $35.00 and its 200 day simple moving average is $38.18. Walgreens Boots Alliance has a 1 year low of $30.39 and a 1 year high of $55.00.
Walgreens Boots Alliance (NASDAQ:WBA – Get Rating) last issued its quarterly earnings data on Thursday, October 13th. The pharmacy operator reported $0.80 EPS for the quarter, beating the consensus estimate of $0.77 by $0.03. The business had revenue of $32.45 billion during the quarter, compared to the consensus estimate of $32.17 billion. Walgreens Boots Alliance had a net
margin of 3.27% and a return on equity of 14.39%. The firm's revenue was down 5.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.17 EPS. As a group, research analysts expect that Walgreens Boots Alliance will post 4.5 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the company. Industrial Alliance Investment Management Inc. raised its position in shares of Walgreens Boots Alliance by 4.0% in the third quarter. Industrial Alliance Investment Management Inc. now owns 53,872 shares of the pharmacy operator's stock valued at $1,692,000 after purchasing an additional 2,055 shares during the period. Coco Enterprises LLC raised its holdings in Walgreens Boots Alliance by 4.0% during the 3rd quarter. Coco Enterprises LLC now owns 25,256 shares of the pharmacy operator's stock valued at $799,000 after buying an additional 973 shares during the last quarter. National Pension Service raised its holdings in Walgreens Boots Alliance by 6.7% during the 3rd quarter. National Pension Service now owns 1,603,680 shares of the pharmacy operator's stock valued at $50,596,000 after buying an additional 100,280 shares during the last quarter. Cape Cod Five Cents Savings Bank raised its holdings in Walgreens Boots Alliance by 19.9% during the 3rd quarter. Cape Cod Five Cents Savings Bank now owns 7,510 shares of the pharmacy operator's stock valued at $236,000 after buying an additional 1,246 shares during the last quarter. Finally, Advisors Capital Management LLC raised its holdings in Walgreens Boots Alliance by 16.3% during the 3rd quarter. Advisors Capital Management LLC now owns 697,986 shares of the pharmacy operator's stock valued at $28,296,000 after buying an additional 97,951 shares during the last quarter. 57.33% of the stock is owned by institutional investors.
About Walgreens Boots Alliance
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Walgreens Boots Alliance, Inc operates as an integrated healthcare, pharmacy, and retailer in the United States (U.S.), 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 sells prescription drugs and an assortment of retail products, including health, wellness, beauty, personal care, consumable, and general merchandise products through its retail drugstores.
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