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

Walgreens Boots Alliance (NASDAQ:WBA) had its target price cut by stock analysts at Jefferies Financial Group from $19.00 to $9.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a “hold” rating on the pharmacy operator’s stock. Jefferies Financial Group’s target price would indicate a potential downside of 4.56% from the company’s current price.

A number of other equities analysts also recently weighed in on the stock. Barclays boosted their target price on shares of Walgreens Boots Alliance from $7.00 to $8.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 16th. Royal Bank of Canada decreased their price objective on shares of Walgreens Boots Alliance from $22.00 to $13.00 and set a “sector perform” rating for the company in a report on Tuesday, July 2nd. Bank of America cut their price objective on shares of Walgreens Boots Alliance from $11.00 to $7.50 and set an “underperform” rating on the stock in a research report on Wednesday, September 4th. Evercore ISI boosted their price objective on shares of 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. Finally, JPMorgan Chase & Co. cut 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 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 issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $12.88.

Walgreens Boots Alliance Price Performance

NASDAQ:WBA traded down $0.30 during trading hours on Wednesday, reaching $9.43. 18,319,166 shares of the company’s stock were exchanged, compared to its average volume of 17,268,172. The company has a quick ratio of 0.31, a current ratio of 0.68 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $8.14 billion, a P/E ratio of -1.40, a price-to-earnings-growth ratio of 1.37 and a beta of 0.70. Walgreens Boots Alliance has a 12 month low of $8.22 and a 12 month high of $27.05. The business’s 50-day simple moving average is $9.40 and its two-hundred day simple moving average is $12.93.

Walgreens Boots Alliance (NASDAQ:WBA) last released its earnings results on Tuesday, October 15th. The pharmacy operator reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.03. The company had revenue of $37.50 billion during the quarter, compared to the consensus estimate of $35.75 billion. Walgreens Boots Alliance had a negative net margin of 5.85% and a positive return on equity of 14.23%. The company’s revenue was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.67 EPS. Sell-side analysts expect that Walgreens Boots Alliance will post 1.57 EPS for the current fiscal year.

Institutional Investors Weigh In On Walgreens Boots Alliance

A number of large investors have recently bought and sold shares of the company. Iron Horse Wealth Management LLC lifted its holdings 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 acquiring an additional 1,300 shares during the last quarter. Blue Trust Inc. raised its holdings in Walgreens Boots Alliance by 87.0% in 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 during the last quarter. Continuum Advisory LLC raised 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 valued at $30,000 after buying an additional 1,020 shares during the last quarter. Eastern Bank bought a new position in Walgreens Boots Alliance in the 3rd quarter valued at approximately $33,000. Finally, Strategic Investment Solutions Inc. IL bought a new position in Walgreens Boots Alliance in the 2nd quarter valued at approximately $34,000. 58.59% of the stock is currently owned by institutional investors and hedge funds.

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.