Walgreens Boots Alliance (WBA) Given New $80.00 Price Target at Loop Capital

Walgreens Boots Alliance (NASDAQ:WBA) had its target price hoisted by Loop Capital to $80.00 in a research note issued to investors on Friday, The Fly reports. The brokerage currently has a “buy” rating on the pharmacy operator’s stock. Loop Capital’s price objective would suggest a potential upside of 34.00% from the stock’s previous close.

WBA has been the subject of a number of other research reports. Robert W. Baird lowered Walgreens Boots Alliance from an “outperform” rating to a “neutral” rating in a research note on Friday. Zacks Investment Research lowered Walgreens Boots Alliance from a “buy” rating to a “hold” rating in a research note on Tuesday, March 6th. BidaskClub raised Walgreens Boots Alliance from a “sell” rating to a “hold” rating in a research note on Tuesday, May 1st. Barclays assumed coverage on Walgreens Boots Alliance in a research note on Thursday, March 8th. They set an “equal weight” rating and a $76.00 price objective for the company. Finally, Pivotal Research set a $70.00 price target on Walgreens Boots Alliance and gave the stock a “hold” rating in a research note on Thursday, March 29th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $79.79.

NASDAQ:WBA opened at $59.70 on Friday. The company has a market cap of $65.71 billion, a PE ratio of 11.71, a P/E/G ratio of 1.07 and a beta of 1.14. Walgreens Boots Alliance has a fifty-two week low of $59.07 and a fifty-two week high of $83.89. The company has a quick ratio of 0.45, a current ratio of 0.90 and a debt-to-equity ratio of 0.44.

Walgreens Boots Alliance (NASDAQ:WBA) last released its quarterly earnings data on Thursday, June 28th. The pharmacy operator reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.47 by $0.06. The firm had revenue of $34.33 billion during the quarter, compared to analyst estimates of $34.15 billion. Walgreens Boots Alliance had a return on equity of 20.38% and a net margin of 3.33%. The business’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.33 earnings per share. sell-side analysts anticipate that Walgreens Boots Alliance will post 5.95 earnings per share for the current year.

In other Walgreens Boots Alliance news, Director William C. Foote sold 2,736 shares of the stock in a transaction on Wednesday, May 2nd. The stock was sold at an average price of $65.56, for a total value of $179,372.16. Following the completion of the transaction, the director now owns 13,679 shares in the company, valued at $896,795.24. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 14.80% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of WBA. Alpha Omega Wealth Management LLC increased its holdings in shares of Walgreens Boots Alliance by 100.0% during the first quarter. Alpha Omega Wealth Management LLC now owns 1,600 shares of the pharmacy operator’s stock valued at $105,000 after acquiring an additional 800 shares in the last quarter. Archford Capital Strategies LLC bought a new position in shares of Walgreens Boots Alliance during the first quarter valued at $115,000. Financial Advocates Investment Management bought a new position in shares of Walgreens Boots Alliance during the fourth quarter valued at $125,000. Fieldpoint Private Securities LLC increased its holdings in shares of Walgreens Boots Alliance by 428.6% during the fourth quarter. Fieldpoint Private Securities LLC now owns 1,850 shares of the pharmacy operator’s stock valued at $134,000 after acquiring an additional 1,500 shares in the last quarter. Finally, QCI Asset Management Inc. NY increased its holdings in shares of Walgreens Boots Alliance by 95.9% during the first quarter. QCI Asset Management Inc. NY now owns 2,155 shares of the pharmacy operator’s stock valued at $141,000 after acquiring an additional 1,055 shares in the last quarter. Institutional investors and hedge funds own 60.27% of the company’s stock.

About Walgreens Boots Alliance

Walgreens Boots Alliance, Inc operates as a pharmacy-led health and wellbeing company. It operates through three segments: Retail Pharmacy USA, Retail Pharmacy International, and Pharmaceutical Wholesale. The Retail Pharmacy USA segment sells prescription drugs and an assortment of general merchandise, including non-prescription drugs, beauty products, photo finishing, seasonal merchandise, greeting cards, and convenience foods through its retail drugstores and convenient care clinics.

The Fly

Analyst Recommendations for Walgreens Boots Alliance (NASDAQ:WBA)

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