Alight, Inc. (NYSE:ALIT) Stock Has Consensus Target Price of $49.33

Shares of Alight, Inc. (NYSE:ALIT) have received an average rating of “Hold” from the eight brokerages that are covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $49.33.

ALIT has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Alight in a research note on Monday. DA Davidson lowered their price objective on Alight from $32.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, September 24th. Citigroup reissued a “neutral” rating and set a $16.00 price objective (down from $20.00) on shares of Alight in a research note on Thursday, August 20th. Finally, Needham & Company LLC restated a “hold” rating on shares of Alight in a report on Thursday, August 20th.

Alight Stock Up 2.8%

Shares of NYSE:ALIT opened at $10.16 on Wednesday. The stock’s 50-day moving average price is $10.95 and its 200-day moving average price is $15.91. Alight has a 12-month low of $7.93 and a 12-month high of $57.00. The stock has a market capitalization of $273.74 million, a P/E ratio of -0.13, a price-to-earnings-growth ratio of 0.17 and a beta of 1.73. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.93.

Alight (NYSE:ALIT) last released its earnings results on Tuesday, November 3rd. The company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.54. The company had revenue of $500.00 million during the quarter, compared to analyst estimates of $473.74 million. Alight had a positive return on equity of 16.05% and a negative net margin of 90.90%. On average, equities analysts anticipate that Alight will post 4.92 earnings per share for the current year.

Institutional Investors Weigh In On Alight

Several institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC grew 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 worth $3,507,000 after acquiring an additional 6,005,848 shares during the last quarter. Squarepoint Ops LLC increased its position in shares of Alight by 508.7% in the second quarter. Squarepoint Ops LLC now owns 1,823,646 shares of the company’s stock valued at $1,021,000 after acquiring an additional 1,524,070 shares during the period. Militia Capital Management LLC purchased a new position in shares of Alight in the first quarter valued at about $661,000. Wellington Management Group LLP raised its stake in shares of Alight by 15.3% during the second quarter. Wellington Management Group LLP now owns 4,962,795 shares of the company’s stock valued at $2,779,000 after acquiring an additional 656,746 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new position in shares of Alight during the second quarter valued at about $187,000. Hedge funds and other institutional investors own 96.74% of the company’s stock.

Alight Company Profile

Alight, Inc is a cloud-based provider of human capital and business solutions for employers and their employees. The company helps organizations manage employee benefits, payroll, human resources, financial administration and related workforce processes through technology-enabled services.

Its offerings include benefits administration, healthcare and employee wellbeing programs, retirement and financial solutions, payroll services, human resources administration and workforce management tools.