Alight, Inc. (NYSE:ALIT) Receives Average Recommendation of “Moderate Buy” from Brokerages

Alight, Inc. (NYSE:ALIT) has been given a consensus recommendation of “Moderate Buy” by the ten research firms that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $10.75.

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

Alight Trading Down 0.7 %

NYSE ALIT opened at $7.12 on Thursday. 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 stock’s 50-day simple moving average is $7.21 and its two-hundred day simple moving average is $7.62. Alight has a twelve month low of $6.15 and a twelve month high of $10.38. The company has a market capitalization of $4.00 billion, a price-to-earnings ratio of -11.48 and a beta of 0.86.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in Alight by 8.1% in the first quarter. Vanguard Group Inc. now owns 38,041,368 shares of the company’s stock worth $374,707,000 after acquiring an additional 2,842,454 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Alight by 18.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 21,066,092 shares of the company’s stock valued at $155,463,000 after purchasing an additional 3,342,413 shares during the last quarter. Janus Henderson Group PLC raised its position in Alight by 1.8% in the first quarter. Janus Henderson Group PLC now owns 19,060,481 shares of the company’s stock worth $187,745,000 after acquiring an additional 331,303 shares during the period. Wolf Hill Capital Management LP boosted its stake in shares of Alight by 28.4% during the 1st quarter. Wolf Hill Capital Management LP now owns 11,097,311 shares of the company’s stock worth $109,309,000 after acquiring an additional 2,454,870 shares during the last quarter. Finally, Rubric Capital Management LP bought a new stake in shares of Alight during the 2nd quarter valued at $62,162,000. 96.74% of the stock is currently owned by institutional investors.

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.