Alight, Inc. (NYSE:ALIT) Receives Average Recommendation of “Buy” from Analysts (2024)

Posted by Defense World Staff on Jun 21st, 2024

Shares of Alight, Inc. (NYSE:ALIT – Get Free Report) have earned a consensus rating of “Buy” from the eight research firms that are covering the company, MarketBeat.com reports. Eight analysts have rated the stock with a buy rating. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $12.00.

A number of research analysts recently issued reports on the stock. UBS Group boosted their target price on shares of Alight from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. KeyCorp dropped their target price on shares of Alight from $12.00 to $11.00 and set an “overweight” rating on the stock in a research report on Thursday, May 9th. Canaccord Genuity Group boosted their target price on shares of Alight from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. Needham & Company LLC decreased their price target on shares of Alight from $13.00 to $11.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. Finally, Wedbush decreased their price target on shares of Alight from $14.00 to $12.00 and set an “outperform” rating for the company in a research note on Friday, May 10th.

Check Out Our Latest Report on ALIT

Alight Trading Up 2.3 %

Shares of Alight stock opened at $7.54 on Friday. The firm has a market capitalization of $4.23 billion, a PE ratio of -12.16, a price-to-earnings-growth ratio of 1.21 and a beta of 0.88. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.61. The firm’s 50 day moving average is $8.25 and its 200 day moving average is $8.67. Alight has a 1 year low of $6.33 and a 1 year high of $10.38.

Alight (NYSE:ALIT – Get Free Report) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $0.07 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.07. Alight had a negative net margin of 9.19% and a positive return on equity of 5.14%. The company had revenue of $816.00 million for the quarter, compared to analyst estimates of $832.41 million. Equities research analysts forecast that Alight will post 0.52 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Alight news, insider Katie J. Rooney sold 2,777 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $9.70, for a total value of $26,936.90. Following the completion of the transaction, the insider now owns 2,927,314 shares of the company’s stock, valued at approximately $28,394,945.80. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Stephan Scholl sold 83,016 shares of the stock in a transaction on Monday, April 8th. The stock was sold at an average price of $95.10, for a total transaction of $7,894,821.60. Following the sale, the chief executive officer now owns 8,115,183 shares in the company, valued at approximately $771,753,903.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Katie J. Rooney sold 2,777 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $9.70, for a total value of $26,936.90. Following the completion of the sale, the insider now owns 2,927,314 shares in the company, valued at approximately $28,394,945.80. The disclosure for this sale can be found here. 5.33% of the stock is owned by insiders.

Institutional Investors Weigh In On Alight

Institutional investors have recently added to or reduced their stakes in the business. DekaBank Deutsche Girozentrale purchased a new stake in shares of Alight in the third quarter valued at approximately $52,000. First Horizon Advisors Inc. boosted its stake in shares of Alight by 38.9% in the fourth quarter. First Horizon Advisors Inc. now owns 6,776 shares of the company’s stock worth $58,000 after acquiring an additional 1,897 shares during the last quarter. Motco purchased a new stake in shares of Alight during the first quarter worth approximately $95,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Alight in the 3rd quarter valued at $109,000. Finally, Duality Advisers LP acquired a new stake in Alight during the 1st quarter worth $119,000. Institutional investors and hedge funds own 96.74% of the company’s stock.

Alight Company Profile

(Get Free Report

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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