Alight, Inc. (NYSE:ALIT) Receives Average Rating of “Hold” from Analysts

Alight, Inc. (NYSE:ALIT) has been given an average rating of “Hold” by the eight analysts that are presently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $3.5571.

ALIT has been the topic of several research reports. Citigroup downgraded shares of Alight from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $6.50 to $1.00 in a research note on Friday, February 20th. Needham & Company LLC downgraded shares of Alight from a “buy” rating to a “hold” rating in a research note on Thursday, February 19th. Bank of America began coverage on shares of Alight in a research note on Tuesday, February 17th. They set an “underperform” rating and a $1.40 price objective on the stock. Wall Street Zen raised shares of Alight from a “sell” rating to a “hold” rating in a research note on Saturday, April 25th. Finally, KeyCorp downgraded shares of Alight from an “overweight” rating to a “sector weight” rating in a research note on Thursday, February 19th.

Hedge Funds Weigh In On Alight

Large investors have recently bought and sold shares of the stock. Strs Ohio purchased a new position in Alight during the first quarter worth approximately $25,000. EverSource Wealth Advisors LLC raised its stake in shares of Alight by 152.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,201 shares of the company’s stock valued at $29,000 after acquiring an additional 3,138 shares during the period. Danske Bank A S purchased a new position in shares of Alight in the 3rd quarter valued at $31,000. Peapack Gladstone Financial Corp purchased a new position in shares of Alight in the 2nd quarter valued at $64,000. Finally, Jones Financial Companies Lllp raised its stake in shares of Alight by 1,776.2% in the 1st quarter. Jones Financial Companies Lllp now owns 11,257 shares of the company’s stock valued at $67,000 after acquiring an additional 10,657 shares during the period. Hedge funds and other institutional investors own 96.74% of the company’s stock.

Alight Trading Up 11.9%

NYSE ALIT opened at $0.77 on Friday. The stock has a market capitalization of $408.89 million, a P/E ratio of -0.13, a P/E/G ratio of 0.24 and a beta of 1.60. Alight has a 52-week low of $0.48 and a 52-week high of $6.11. The firm has a 50-day moving average price of $0.73 and a 200 day moving average price of $1.21. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.92.

Alight (NYSE:ALIT) last issued its earnings results on Tuesday, May 5th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.03. Alight had a negative net margin of 137.50% and a positive return on equity of 13.04%. The company had revenue of $534.00 million for the quarter, compared to analyst estimates of $502.74 million. Equities research analysts expect that Alight will post 0.28 EPS for the current year.

Alight Company Profile

Alight, Inc (NYSE: ALIT) is a leading provider of cloud-based human capital and financial solutions designed to help organizations and their employees navigate critical life and work events. The company offers a comprehensive suite of services, including payroll administration, benefits enrollment and management, workforce and analytics solutions, health and welfare support, and financial wellness programs. By integrating advanced technology with expert advisory services, Alight aims to simplify the administration of human resources and benefits functions, improve employee engagement and productivity, and drive cost efficiencies for its clients.

Alight’s core platform leverages cloud architecture and automation to deliver scalable and secure solutions that address the needs of mid-sized and large enterprises.