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Walgreens (WBA) Catches Eye: Stock Jumps 5.1%

Zacks Equity Research

Walgreens Boots Alliance, Inc. WBA was a big mover last session, as the company saw its shares rise more than 5% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $53.67 to $61.21 in the past one-month time frame.

The stock gained following news that private equity firm KKR & Co. has made a formal offer to take the company private.  

The company has seen two positive estimate revisions in the past few weeks, while its Zacks Consensus Estimate for the current quarter has also moved higher over the past few weeks, suggesting that more solid trading could be ahead for Walgreens. So make sure to keep an eye on this stock going forward to see if this recent jump can turn into more strength down the road.

Walgreens currently has a Zacks Rank #4 (Sell) while its Earnings ESP is negative.

Walgreens Boots Alliance, Inc. Price

Walgreens Boots Alliance, Inc. Price

Walgreens Boots Alliance, Inc. price | Walgreens Boots Alliance, Inc. Quote

A better-ranked stock in the Retail-Wholesale sector is Casey's General Stores, Inc. CASY, which currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

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