ValuEngine Downgrades Walgreens Boots Alliance (NASDAQ:WBA) to Hold

Walgreens Boots Alliance (NASDAQ:WBA) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a report issued on Friday, February 2nd.

WBA has been the subject of a number of other research reports. Pivotal Research reduced their target price on Walgreens Boots Alliance from $85.00 to $73.00 and set a “hold” rating for the company in a report on Tuesday, October 24th. Needham & Company LLC reaffirmed a “buy” rating and set a $94.00 price target on shares of Walgreens Boots Alliance in a research note on Thursday, October 12th. Deutsche Bank began coverage on Walgreens Boots Alliance in a research note on Monday, December 4th. They set a “hold” rating and a $78.00 price target for the company. Vetr raised Walgreens Boots Alliance from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, December 12th. Finally, Zacks Investment Research upgraded Walgreens Boots Alliance from a “hold” rating to a “buy” rating and set a $82.00 price objective for the company in a research report on Saturday, January 13th. Eleven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Walgreens Boots Alliance has an average rating of “Buy” and a consensus target price of $85.53.

Walgreens Boots Alliance (NASDAQ:WBA) opened at $68.46 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.47 and a debt-to-equity ratio of 0.48. The stock has a market cap of $67,821.20, a P/E ratio of 12.97, a PEG ratio of 1.16 and a beta of 1.18. Walgreens Boots Alliance has a 1 year low of $63.82 and a 1 year high of $88.00.

Walgreens Boots Alliance (NASDAQ:WBA) last issued its quarterly earnings results on Thursday, January 4th. The pharmacy operator reported $1.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.27 by $0.01. Walgreens Boots Alliance had a return on equity of 19.15% and a net margin of 3.19%. The firm had revenue of $30.74 billion during the quarter, compared to the consensus estimate of $30.39 billion. During the same period last year, the company earned $1.10 earnings per share. The company’s revenue for the quarter was up 7.9% on a year-over-year basis. research analysts predict that Walgreens Boots Alliance will post 5.71 EPS for the current year.

Walgreens Boots Alliance declared that its board has approved a stock repurchase program on Wednesday, October 25th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the pharmacy operator to purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

In other Walgreens Boots Alliance news, insider Stefano Pessina bought 98,858 shares of the business’s stock in a transaction on Monday, January 15th. The shares were bought at an average cost of $76.07 per share, with a total value of $7,520,128.06. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 14.80% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Pathstone Family Office LLC grew its stake in Walgreens Boots Alliance by 226.6% during the 2nd quarter. Pathstone Family Office LLC now owns 1,179 shares of the pharmacy operator’s stock worth $1,969,000 after buying an additional 818 shares during the last quarter. Hudock Capital Group LLC grew its stake in Walgreens Boots Alliance by 0.5% during the 2nd quarter. Hudock Capital Group LLC now owns 1,306 shares of the pharmacy operator’s stock worth $102,000 after buying an additional 6 shares during the last quarter. Westside Investment Management Inc. grew its stake in Walgreens Boots Alliance by 10.4% during the 2nd quarter. Westside Investment Management Inc. now owns 1,325 shares of the pharmacy operator’s stock worth $102,000 after buying an additional 125 shares during the last quarter. Zions Bancorporation grew its stake in Walgreens Boots Alliance by 983.3% during the 3rd quarter. Zions Bancorporation now owns 1,365 shares of the pharmacy operator’s stock worth $105,000 after buying an additional 1,239 shares during the last quarter. Finally, Bristlecone Advisors LLC bought a new position in Walgreens Boots Alliance during the 3rd quarter worth $135,000. Institutional investors and hedge funds own 61.57% of the company’s stock.

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Walgreens Boots Alliance Company Profile

Walgreens Boots Alliance, Inc (Walgreens Boots Alliance) is a holding company. The Company is a global pharmacy-led, health and wellbeing enterprise. Walgreens Boots Alliance operates through three divisions, including Retail Pharmacy USA, Retail Pharmacy International and Pharmaceutical Wholesale. The Company’s products are marketed under a number of brands, which include No7, the Botanics range, Almus (generic medicines), Boots Pharmaceuticals and Soap & Glory (bathing and beauty brand).

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Walgreens Boots Alliance (NASDAQ:WBA)

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