Alight (NYSE:ALIT) Given Buy Rating at DA Davidson

Alight (NYSE:ALIT)‘s stock had its “buy” rating reissued by investment analysts at DA Davidson in a research report issued on Monday,Benzinga reports. They currently have a $2.00 target price on the stock. DA Davidson’s price objective points to a potential upside of 228.95% from the stock’s current price.

A number of other equities analysts also recently weighed in on ALIT. Wall Street Zen raised shares of Alight from a “sell” rating to a “hold” rating in a research note on Saturday, April 25th. Weiss Ratings downgraded Alight from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, May 7th. Three research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $3.13.

Alight Stock Up 6.8%

Shares of NYSE ALIT traded up $0.04 during mid-day trading on Monday, reaching $0.61. The company had a trading volume of 4,110,487 shares, compared to its average volume of 27,672,691. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.42 and a current ratio of 1.42. The company has a market capitalization of $324.98 million, a price-to-earnings ratio of -0.10, a PEG ratio of 0.18 and a beta of 1.60. The stock has a fifty day moving average of $0.74 and a two-hundred day moving average of $1.15. Alight has a 12-month low of $0.48 and a 12-month high of $6.11.

Alight’s stock is set to reverse split before the market opens on Tuesday, June 30th. The 1-20 reverse split was announced on Thursday, June 18th. The number of shares owned by shareholders will be adjusted after the market closes on Monday, June 29th.

Alight (NYSE:ALIT) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.03. The firm had revenue of $534.00 million for the quarter, compared to analyst estimates of $502.74 million. Alight had a negative net margin of 137.50% and a positive return on equity of 13.04%. As a group, equities research analysts expect that Alight will post 0.28 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Strs Ohio acquired a new position in Alight during the first quarter worth $25,000. EverSource Wealth Advisors LLC boosted its stake in shares of Alight by 152.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,201 shares of the company’s stock worth $29,000 after acquiring an additional 3,138 shares in the last quarter. Danske Bank A S acquired a new position in shares of Alight during the 3rd quarter valued at about $31,000. Peapack Gladstone Financial Corp bought a new position in shares of Alight in the 2nd quarter valued at approximately $64,000. Finally, Jones Financial Companies Lllp lifted its holdings in Alight by 1,776.2% in the 1st quarter. Jones Financial Companies Lllp now owns 11,257 shares of the company’s stock worth $67,000 after purchasing an additional 10,657 shares during the last quarter. Institutional investors own 96.74% of the company’s stock.

Alight Company Profile

Alight, Inc (NYSE: ALIT) is a leading provider of cloud-based human capital and financial solutions designed to help organizations and their employees navigate critical life and work events. The company offers a comprehensive suite of services, including payroll administration, benefits enrollment and management, workforce and analytics solutions, health and welfare support, and financial wellness programs. By integrating advanced technology with expert advisory services, Alight aims to simplify the administration of human resources and benefits functions, improve employee engagement and productivity, and drive cost efficiencies for its clients.

Alight’s core platform leverages cloud architecture and automation to deliver scalable and secure solutions that address the needs of mid-sized and large enterprises.