Brokerages Set Alight, Inc. (NYSE:ALIT) PT at $10.75

Alight, Inc. (NYSE:ALIT) has earned a consensus rating of “Moderate Buy” from the ten analysts that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $10.75.

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

Institutional Investors Weigh In On Alight

A number of institutional investors and hedge funds have recently made changes to their positions in ALIT. Vanguard Group Inc. grew its stake in shares of Alight by 1.6% in the fourth 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 in the last quarter. Russell Investments Group Ltd. lifted its stake in Alight by 20.5% in the first quarter. Russell Investments Group Ltd. now owns 1,133,077 shares of the company’s stock valued at $11,161,000 after acquiring an additional 192,405 shares during the last quarter. Wedge Capital Management L L P NC increased its stake in shares of 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 worth $4,314,000 after purchasing an additional 76,485 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Alight during the 1st quarter worth about $4,237,000. Finally, Victory Capital Management Inc. raised its holdings in shares of Alight by 28.3% in the 2nd quarter. Victory Capital Management Inc. now owns 6,160,609 shares of the company’s stock valued at $45,465,000 after purchasing an additional 1,358,020 shares during the period. Institutional investors own 96.74% of the company’s stock.

Alight Stock Down 1.9 %

Shares of NYSE:ALIT opened at $6.99 on Thursday. The company has a 50 day moving average price of $7.23 and a two-hundred day moving average price of $7.54. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.37 and a current ratio of 1.37. The company has a market capitalization of $3.82 billion, a PE ratio of -15.88 and a beta of 0.86. Alight has a 52 week low of $6.15 and a 52 week high of $10.38.

Alight (NYSE:ALIT) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.08 by $0.01. Alight had a positive return on equity of 5.42% and a negative net margin of 6.58%. The business had revenue of $787.00 million for the quarter, compared to the consensus estimate of $791.22 million. Analysts forecast 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.