Alight, Inc. (NYSE:ALIT) Receives $10.61 Consensus Price Target from Brokerages

Alight, Inc. (NYSE:ALIT) has earned a consensus recommendation of “Moderate Buy” from the nine research firms that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $10.61.

Several research firms recently issued reports on ALIT. Canaccord Genuity Group increased their price target on shares of Alight from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. KeyCorp raised their price target on shares of Alight from $10.00 to $11.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $9.00 price target on shares of Alight in a research note on Friday, February 21st.

Alight Price Performance

Shares of NYSE ALIT opened at $6.83 on Wednesday. The stock has a market capitalization of $3.71 billion, a price-to-earnings ratio of -22.77 and a beta of 0.94. The business has a 50-day moving average of $6.80 and a 200-day moving average of $7.14. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.30 and a quick ratio of 1.30. Alight has a fifty-two week low of $6.15 and a fifty-two week high of $10.38.

Alight (NYSE:ALIT) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.04). The firm had revenue of $680.00 million for the quarter, compared to analyst estimates of $675.66 million. Alight had a positive return on equity of 5.42% and a negative net margin of 5.53%. As a group, sell-side analysts predict that Alight will post 0.54 earnings per share for the current fiscal year.

Alight Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date of this dividend is Monday, March 3rd. Alight’s payout ratio is -53.33%.

Hedge Funds Weigh In On Alight

Several institutional investors and hedge funds have recently made changes to their positions in the business. Blue Trust Inc. boosted its position in Alight by 107.6% during the 4th quarter. Blue Trust Inc. now owns 3,336 shares of the company’s stock valued at $25,000 after buying an additional 1,729 shares during the period. Public Employees Retirement System of Ohio lifted its position in Alight by 65.5% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 5,042 shares of the company’s stock valued at $37,000 after acquiring an additional 1,996 shares during the period. KBC Group NV lifted its position in Alight by 24.0% during the 3rd quarter. KBC Group NV now owns 12,049 shares of the company’s stock valued at $89,000 after acquiring an additional 2,331 shares during the period. Cornerstone Investment Partners LLC increased its stake in Alight by 3.6% during the 4th quarter. Cornerstone Investment Partners LLC now owns 67,673 shares of the company’s stock valued at $468,000 after purchasing an additional 2,356 shares in the last quarter. Finally, Xponance Inc. increased its stake in Alight by 8.8% during the 4th quarter. Xponance Inc. now owns 30,229 shares of the company’s stock valued at $209,000 after purchasing an additional 2,437 shares in the last quarter. Institutional investors own 96.74% of the company’s stock.

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.