Alight, Inc. (NYSE:ALIT) Stock Has Average Target Price of $49.33 According to Analysts

Alight, Inc. (NYSE:ALIT) has received an average rating of “Hold” from the eight ratings firms that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, three have given a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $49.33.

A number of equities research analysts have recently issued reports on the company. Citigroup restated a “neutral” rating and set a $16.00 price objective (down from $20.00) on shares of Alight in a report on Thursday, August 20th. Needham & Company LLC reissued a “hold” rating on shares of Alight in a report on Thursday, August 20th. Weiss Ratings restated a “sell (e+)” rating on shares of Alight in a research note on Tuesday, August 4th. Finally, DA Davidson decreased their price objective on Alight from $32.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, September 24th.

Hedge Funds Weigh In On Alight

Several institutional investors and hedge funds have recently modified their holdings of the business. Pacer Advisors Inc. bought a new position in Alight during the fourth quarter worth about $8,462,000. Renaissance Technologies LLC boosted its holdings in Alight by 45,846.2% in the 1st quarter. Renaissance Technologies LLC now owns 6,018,948 shares of the company’s stock valued at $3,507,000 after purchasing an additional 6,005,848 shares during the period. Wellington Management Group LLP boosted its holdings in Alight by 15.3% in the 2nd quarter. Wellington Management Group LLP now owns 4,962,795 shares of the company’s stock valued at $2,779,000 after purchasing an additional 656,746 shares during the period. Empowered Funds LLC grew its position in shares of Alight by 5.5% during the 1st quarter. Empowered Funds LLC now owns 2,127,000 shares of the company’s stock worth $1,239,000 after purchasing an additional 110,456 shares in the last quarter. Finally, Squarepoint Ops LLC grew its position in shares of Alight by 508.7% during the 2nd quarter. Squarepoint Ops LLC now owns 1,823,646 shares of the company’s stock worth $1,021,000 after purchasing an additional 1,524,070 shares in the last quarter. 96.74% of the stock is currently owned by institutional investors and hedge funds.

Alight Stock Performance

NYSE ALIT opened at $9.40 on Friday. The stock has a market cap of $253.29 million, a PE ratio of -0.12, a P/E/G ratio of 0.21 and a beta of 1.69. The company has a debt-to-equity ratio of 1.93, a quick ratio of 1.42 and a current ratio of 1.42. The firm has a 50-day moving average of $12.88 and a 200-day moving average of $14.22. Alight has a 52-week low of $8.51 and a 52-week high of $64.00.

Alight (NYSE:ALIT) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.15. The business had revenue of $511.00 million for the quarter, compared to analyst estimates of $497.02 million. Alight had a negative net margin of 90.90% and a positive return on equity of 16.05%. On average, sell-side analysts anticipate that Alight will post 4.12 EPS for the current year.

Alight Company Profile

Alight, Inc (NYSE: ALIT) is a cloud-based provider of human capital and financial management technology and services. The company helps organizations manage employee benefits, payroll, human resources, talent administration and financial well-being through digital platforms and related professional services.

Its offerings include employee engagement and benefits administration tools, payroll and workforce management solutions, and software designed to support health, retirement and other workplace programs.