Walgreens Boots Alliance (NASDAQ:WBA) Stock Price Up 6.9% – What’s Next?

Walgreens Boots Alliance, Inc. (NASDAQ:WBA) shot up 6.9% on Tuesday . The company traded as high as $11.10 and last traded at $10.97. 13,145,315 shares were traded during trading, a decline of 33% from the average session volume of 19,749,845 shares. The stock had previously closed at $10.26.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on WBA shares. Truist Financial decreased their target price on shares of Walgreens Boots Alliance from $13.00 to $12.00 and set a “hold” rating for the company in a research report on Friday, January 31st. Deutsche Bank Aktiengesellschaft cut shares of Walgreens Boots Alliance from a “hold” rating to a “sell” rating and decreased their price objective for the company from $11.00 to $9.00 in a report on Friday. Evercore ISI boosted their target price on Walgreens Boots Alliance from $9.00 to $12.00 and gave the stock an “in-line” rating in a report on Monday, January 13th. Royal Bank of Canada increased their price target on Walgreens Boots Alliance from $9.00 to $12.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 15th. Finally, Bank of America boosted their price objective on Walgreens Boots Alliance from $7.50 to $8.50 and gave the stock an “underperform” rating in a research note on Monday, January 13th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $11.54.

Walgreens Boots Alliance Trading Up 5.4 %

The company has a fifty day simple moving average of $10.52 and a 200-day simple moving average of $9.71. The stock has a market cap of $9.35 billion, a price-to-earnings ratio of -1.06, a P/E/G ratio of 1.31 and a beta of 0.65. The company has a current ratio of 0.64, a quick ratio of 0.30 and a debt-to-equity ratio of 0.68.

Walgreens Boots Alliance (NASDAQ:WBA) last posted its quarterly earnings data on Friday, January 10th. The pharmacy operator reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.13. Walgreens Boots Alliance had a negative net margin of 5.87% and a positive return on equity of 17.61%. The firm had revenue of $39.50 billion during the quarter, compared to analyst estimates of $37.40 billion. During the same quarter last year, the business posted $0.66 EPS. The company’s revenue was up 7.6% on a year-over-year basis. On average, research analysts forecast that Walgreens Boots Alliance, Inc. will post 1.6 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Walgreens Boots Alliance

A number of institutional investors have recently modified their holdings of WBA. Charles Schwab Investment Management Inc. grew its position in Walgreens Boots Alliance by 43.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 10,969,188 shares of the pharmacy operator’s stock worth $98,284,000 after acquiring an additional 3,329,857 shares in the last quarter. Altrius Capital Management Inc boosted its holdings in Walgreens Boots Alliance by 76.6% in the third quarter. Altrius Capital Management Inc now owns 440,483 shares of the pharmacy operator’s stock worth $3,947,000 after purchasing an additional 190,996 shares in the last quarter. Swedbank AB increased its position in Walgreens Boots Alliance by 45.3% during the fourth quarter. Swedbank AB now owns 595,828 shares of the pharmacy operator’s stock worth $5,559,000 after buying an additional 185,762 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in Walgreens Boots Alliance by 23.4% during the third quarter. PNC Financial Services Group Inc. now owns 340,431 shares of the pharmacy operator’s stock valued at $3,050,000 after buying an additional 64,586 shares in the last quarter. Finally, Sasco Capital Inc. CT lifted its position in shares of Walgreens Boots Alliance by 13.6% in the third quarter. Sasco Capital Inc. CT now owns 1,041,440 shares of the pharmacy operator’s stock worth $9,331,000 after buying an additional 124,950 shares during the last quarter. Institutional investors and hedge funds own 58.59% of the company’s stock.

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.