Alight, Inc. (NYSE:ALIT) Receives $10.75 Consensus Price Target from Analysts

Alight, Inc. (NYSE:ALIT) has received a consensus recommendation of “Moderate Buy” from the ten brokerages that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $10.75.

ALIT has been the topic of a number of analyst reports. Wedbush lowered their target price on shares of Alight from $12.00 to $10.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. KeyCorp dropped their target price on Alight from $11.00 to $10.00 and set an “overweight” rating for the company in a report on Thursday, July 11th. Needham & Company LLC restated a “buy” rating and set a $9.00 target price on shares of Alight in a research report on Monday, September 30th. Citigroup lowered their price target on Alight from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Finally, JPMorgan Chase & Co. cut Alight from an “overweight” rating to a “neutral” rating and set a $8.00 price objective for the company. in a report on Tuesday, August 20th.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in shares of Alight by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 35,198,914 shares of the company’s stock valued at $300,247,000 after buying an additional 547,614 shares during the period. Russell Investments Group Ltd. raised its holdings in Alight by 20.5% during the 1st quarter. Russell Investments Group Ltd. now owns 1,133,077 shares of the company’s stock worth $11,161,000 after purchasing an additional 192,405 shares during the last quarter. Wedge Capital Management L L P NC lifted its position in Alight by 15.1% during the 2nd quarter. Wedge Capital Management L L P NC now owns 584,574 shares of the company’s stock valued at $4,314,000 after purchasing an additional 76,485 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Alight during the first quarter worth approximately $4,237,000. Finally, Victory Capital Management Inc. lifted its holdings in Alight by 28.3% in the second quarter. Victory Capital Management Inc. now owns 6,160,609 shares of the company’s stock valued at $45,465,000 after buying an additional 1,358,020 shares during the period. Institutional investors own 96.74% of the company’s stock.

Alight Stock Down 1.9 %

ALIT stock opened at $6.99 on Thursday. Alight has a twelve month low of $6.15 and a twelve month high of $10.38. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.55. The company has a market cap of $3.82 billion, a PE ratio of -15.88 and a beta of 0.86. The business’s 50-day simple moving average is $7.23 and its 200 day simple moving average is $7.54.

Alight (NYSE:ALIT) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.01. The company had revenue of $787.00 million for the quarter, compared to analyst estimates of $791.22 million. Alight had a positive return on equity of 5.42% and a negative net margin of 6.58%. On average, research analysts anticipate that Alight will post 0.42 earnings per share for the current year.

Alight Company Profile

Alight, Inc provides cloud-based integrated digital human capital and business solutions worldwide. The company operates through two segments, Employer Solutions and Professional Services. The Employer Solutions segment offers employee wellbeing, integrated benefits administration, healthcare navigation, financial wellbeing, leave of absence management, retiree healthcare and payroll; and operates AI-led capabilities software.