Walgreens Boots Alliance (NASDAQ:WBA) Trading 14% Higher – Here’s What Happened

Walgreens Boots Alliance, Inc. (NASDAQ:WBA) rose 14% during trading on Tuesday . The company traded as high as $10.38 and last traded at $10.26. Approximately 39,514,496 shares were traded during mid-day trading, an increase of 137% from the average daily volume of 16,644,746 shares. The stock had previously closed at $9.00.

Wall Street Analysts Forecast Growth

WBA has been the topic of several research reports. Barclays decreased their price target on shares of Walgreens Boots Alliance from $11.00 to $7.00 and set an “underweight” rating on the stock in a research note on Tuesday, July 23rd. Truist Financial cut their target price on Walgreens Boots Alliance from $13.00 to $10.00 and set a “hold” rating for the company in a research note on Monday, October 7th. Morgan Stanley lowered their price target on shares of Walgreens Boots Alliance from $9.00 to $7.00 and set an “underweight” rating on the stock in a research report on Friday. Evercore ISI cut their price objective on shares of Walgreens Boots Alliance from $17.00 to $10.00 and set an “in-line” rating for the company in a research report on Friday, June 28th. Finally, UBS Group decreased their target price on shares of Walgreens Boots Alliance from $17.00 to $12.00 and set a “neutral” rating on the stock in a report on Wednesday, July 3rd. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $13.46.

Walgreens Boots Alliance Stock Performance

The stock has a market capitalization of $8.87 billion, a PE ratio of -1.52, a P/E/G ratio of 1.04 and a beta of 0.70. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.31 and a current ratio of 0.65. The firm’s 50 day moving average is $9.41 and its two-hundred day moving average is $13.31.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Scientech Research LLC acquired a new position in Walgreens Boots Alliance during the 2nd quarter worth approximately $1,215,000. Syon Capital LLC acquired a new position in shares of Walgreens Boots Alliance during the fourth quarter worth $333,000. Ariel Investments LLC increased its holdings in Walgreens Boots Alliance by 10.8% in the second quarter. Ariel Investments LLC now owns 2,038,878 shares of the pharmacy operator’s stock valued at $24,660,000 after buying an additional 198,891 shares during the last quarter. Clifford Capital Partners LLC raised its stake in Walgreens Boots Alliance by 58.4% in the second quarter. Clifford Capital Partners LLC now owns 803,204 shares of the pharmacy operator’s stock valued at $9,715,000 after buying an additional 296,135 shares in the last quarter. Finally, EP Wealth Advisors LLC purchased a new stake in Walgreens Boots Alliance during the 4th quarter worth about $297,000. 58.59% of the stock is owned by institutional investors and hedge funds.

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.