Walgreens Boots Alliance (NASDAQ:WBA) Upgraded to “Sell” at BidaskClub

Walgreens Boots Alliance (NASDAQ:WBA) was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a report released on Saturday, BidAskClub reports.

WBA has been the topic of several other reports. ValuEngine downgraded Walgreens Boots Alliance from a “sell” rating to a “strong sell” rating in a research note on Wednesday, May 27th. SunTrust Banks dropped their target price on Walgreens Boots Alliance from $42.00 to $40.00 and set a “hold” rating on the stock in a research note on Friday, July 10th. Royal Bank of Canada dropped their target price on Walgreens Boots Alliance from $45.00 to $38.00 and set a “sector perform” rating on the stock in a research note on Wednesday, September 2nd. Citigroup dropped their target price on Walgreens Boots Alliance from $48.00 to $43.00 and set a “neutral” rating on the stock in a research note on Friday, July 10th. Finally, Morgan Stanley dropped their target price on Walgreens Boots Alliance from $45.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Thursday, September 3rd. Four research analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $44.60.

Shares of WBA stock opened at $36.93 on Friday. Walgreens Boots Alliance has a 52-week low of $33.88 and a 52-week high of $64.50. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.33 and a current ratio of 0.69. The firm has a market capitalization of $32.00 billion, a P/E ratio of 45.04, a P/E/G ratio of 1.35 and a beta of 0.43. The stock has a 50 day moving average price of $39.12 and a 200 day moving average price of $42.04.

Walgreens Boots Alliance (NASDAQ:WBA) last issued its quarterly earnings results on Thursday, July 9th. The pharmacy operator reported $0.83 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.10 by ($0.27). Walgreens Boots Alliance had a return on equity of 19.43% and a net margin of 0.55%. The business had revenue of $34.63 billion for the quarter, compared to the consensus estimate of $34.32 billion. During the same period in the prior year, the business posted $1.47 earnings per share. Walgreens Boots Alliance’s revenue was up .1% on a year-over-year basis. As a group, sell-side analysts forecast that Walgreens Boots Alliance will post 4.68 EPS for the current year.

A number of institutional investors have recently bought and sold shares of the business. Balentine LLC acquired a new position in shares of Walgreens Boots Alliance in the 1st quarter valued at about $29,000. Northern Oak Wealth Management Inc. lifted its holdings in shares of Walgreens Boots Alliance by 54.1% in the 2nd quarter. Northern Oak Wealth Management Inc. now owns 715 shares of the pharmacy operator’s stock valued at $30,000 after buying an additional 251 shares during the period. Campbell Wealth Management acquired a new position in shares of Walgreens Boots Alliance in the 2nd quarter valued at about $35,000. Perennial Advisors LLC acquired a new position in shares of Walgreens Boots Alliance in the 1st quarter valued at about $36,000. Finally, Cornerstone Advisors Inc. lifted its holdings in shares of Walgreens Boots Alliance by 47.5% in the 2nd quarter. Cornerstone Advisors Inc. now owns 898 shares of the pharmacy operator’s stock valued at $38,000 after buying an additional 289 shares during the period. Institutional investors and hedge funds own 55.96% 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 retail products, including health, beauty, personal care, consumable, and general merchandise products through its retail drugstores and convenient care clinics.

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Analyst Recommendations for Walgreens Boots Alliance (NASDAQ:WBA)

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