Shares of Alight, Inc. (NYSE:ALIT – Get Free Report) have earned a consensus rating of “Buy” from the seven ratings firms that are presently covering the stock, MarketBeat.com reports. Seven analysts have rated the stock with a buy recommendation. The average 1-year price target among brokerages that have covered the stock in the last year is $12.71.
A number of research analysts recently weighed in on ALIT shares. Wedbush reissued an “outperform” rating and set a $14.00 price target on shares of Alight in a research report on Thursday, April 25th. UBS Group upped their target price on Alight from $12.00 to $13.00 and gave the company a “buy” rating in a report on Thursday, March 21st. Needham & Company LLC boosted their price objective on Alight from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. Finally, Canaccord Genuity Group raised their target price on Alight from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Thursday, March 21st.
Check Out Our Latest Report on Alight
Insiders Place Their Bets
Hedge Funds Weigh In On Alight
Several hedge funds have recently made changes to their positions in the stock. First Horizon Advisors Inc. boosted its stake in Alight by 38.9% in the 4th quarter. First Horizon Advisors Inc. now owns 6,776 shares of the company’s stock worth $58,000 after purchasing an additional 1,897 shares during the period. DekaBank Deutsche Girozentrale bought a new position in shares of Alight in the third quarter valued at approximately $52,000. Duality Advisers LP purchased a new position in Alight during the first quarter valued at approximately $119,000. Allspring Global Investments Holdings LLC increased its holdings in Alight by 86.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 12,182 shares of the company’s stock worth $86,000 after acquiring an additional 5,661 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. purchased a new stake in Alight in the 1st quarter worth approximately $147,000. 96.74% of the stock is currently owned by hedge funds and other institutional investors.
Alight Price Performance
Shares of NYSE ALIT opened at $7.79 on Thursday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.27 and a current ratio of 1.27. The firm’s 50-day simple moving average is $9.24 and its 200 day simple moving average is $8.57. The stock has a market cap of $4.38 billion, a price-to-earnings ratio of -14.15, a PEG ratio of 1.81 and a beta of 0.94. Alight has a fifty-two week low of $6.33 and a fifty-two week high of $10.38.
Alight (NYSE:ALIT – Get Free Report) last posted its earnings results on Wednesday, February 21st. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. Alight had a positive return on equity of 5.09% and a negative net margin of 7.80%. The company had revenue of $960.00 million for the quarter, compared to analyst estimates of $1.03 billion. As a group, research analysts anticipate that Alight will post 0.5 earnings per share for the current fiscal year.
About Alight
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.
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