Truist Financial Cuts Walgreens Boots Alliance (NASDAQ:WBA) Price Target to $10.00

Walgreens Boots Alliance (NASDAQ:WBA) had its price target reduced by research analysts at Truist Financial from $13.00 to $10.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has a “hold” rating on the pharmacy operator’s stock. Truist Financial’s price target suggests a potential upside of 14.29% from the stock’s current price.

A number of other equities analysts have also issued reports on the company. TD Cowen lowered their price target on Walgreens Boots Alliance from $22.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, September 12th. Evercore ISI cut their price target on Walgreens Boots Alliance from $17.00 to $10.00 and set an “in-line” rating for the company in a research note on Friday, June 28th. Barclays reduced their price objective on Walgreens Boots Alliance from $11.00 to $7.00 and set an “underweight” rating on the stock in a research report on Tuesday, July 23rd. UBS Group decreased their price objective on Walgreens Boots Alliance from $17.00 to $12.00 and set a “neutral” rating on the stock in a report on Wednesday, July 3rd. Finally, Bank of America dropped their price target on shares of Walgreens Boots Alliance from $11.00 to $7.50 and set an “underperform” rating for the company in a research report on Wednesday, September 4th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $14.50.

Walgreens Boots Alliance Stock Performance

WBA opened at $8.75 on Monday. The firm’s fifty day simple moving average is $9.73 and its two-hundred day simple moving average is $13.81. Walgreens Boots Alliance has a 52-week low of $8.22 and a 52-week high of $27.05. The company has a quick ratio of 0.31, a current ratio of 0.65 and a debt-to-equity ratio of 0.49. The company has a market cap of $7.55 billion, a price-to-earnings ratio of -1.30, a PEG ratio of 0.99 and a beta of 0.70.

Institutional Investors Weigh In On Walgreens Boots Alliance

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Iron Horse Wealth Management LLC lifted its holdings in Walgreens Boots Alliance by 162.5% during the 2nd 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 in the last quarter. Pineridge Advisors LLC bought a new stake in Walgreens Boots Alliance during the fourth quarter valued at $26,000. Blue Trust Inc. raised its holdings in shares of 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 acquiring an additional 1,081 shares in the last quarter. Continuum Advisory LLC grew its holdings in shares of Walgreens Boots Alliance by 71.2% during the second quarter. Continuum Advisory LLC now owns 2,453 shares of the pharmacy operator’s stock worth $30,000 after purchasing an additional 1,020 shares in the last quarter. Finally, 1832 Asset Management L.P. lifted its position in Walgreens Boots Alliance by 282.1% during the fourth quarter. 1832 Asset Management L.P. now owns 1,219 shares of the pharmacy operator’s stock valued at $32,000 after purchasing an additional 900 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.