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

Shares of Alight, Inc. (NYSE:ALIT) have been given an average rating of “Moderate Buy” by the ten research firms that are presently covering the firm, Marketbeat Ratings 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 price target among brokers that have updated their coverage on the stock in the last year is $10.75.

ALIT has been the topic of several research analyst reports. Wedbush lowered their price objective on Alight from $12.00 to $10.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. KeyCorp lowered their price target on Alight from $11.00 to $10.00 and set an “overweight” rating on the stock in a report on Thursday, July 11th. JPMorgan Chase & Co. lowered shares of 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. Citigroup reduced their price objective on shares of Alight from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Finally, 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.

Alight Trading Down 0.7 %

Alight stock opened at $7.12 on Thursday. Alight has a 12-month low of $6.15 and a 12-month high of $10.38. The firm has a market capitalization of $4.00 billion, a price-to-earnings ratio of -11.48 and a beta of 0.86. The firm has a 50 day moving average of $7.21 and a 200 day moving average of $7.62. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.55.

Alight (NYSE:ALIT) last released its earnings results 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 negative net margin of 6.58% and a positive return on equity of 5.42%. As a group, research analysts predict that Alight will post 0.42 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ALIT. Nisa Investment Advisors LLC grew its holdings in shares of Alight by 65.3% in the second quarter. Nisa Investment Advisors LLC now owns 7,498 shares of the company’s stock valued at $55,000 after purchasing an additional 2,961 shares during the period. Motco purchased a new stake in shares of Alight in the 1st quarter valued at approximately $95,000. Ingalls & Snyder LLC increased its holdings in shares of Alight by 20.9% during the 2nd quarter. Ingalls & Snyder LLC now owns 12,919 shares of the company’s stock worth $95,000 after buying an additional 2,235 shares during the last quarter. CIBC Asset Management Inc purchased a new stake in shares of Alight during the 2nd quarter valued at approximately $105,000. Finally, Duality Advisers LP acquired a new position in Alight in the first quarter valued at approximately $119,000. 96.74% of the stock is owned by hedge funds and other 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.