Alight (NYSE:ALIT - Get Free Report) had its target price decreased by stock analysts at Bank of America from $10.00 to $9.50 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has a "buy" rating on the stock. Bank of America's price objective suggests a potential upside of 30.49% from the company's previous close.
Other equities research analysts also recently issued reports about the company. UBS Group lifted their target price on Alight from $12.00 to $13.00 and gave the stock a "buy" rating in a report on Thursday, March 21st. Needham & Company LLC dropped their target price on shares of Alight from $13.00 to $11.00 and set a "buy" rating on the stock in a research report on Thursday, May 9th. Canaccord Genuity Group raised their price target on shares of Alight from $12.00 to $13.00 and gave the stock a "buy" rating in a report on Thursday, March 21st. DA Davidson reiterated a "buy" rating and set a $12.00 price objective on shares of Alight in a report on Thursday, June 20th. Finally, KeyCorp reduced their target price on Alight from $12.00 to $11.00 and set an "overweight" rating for the company in a research note on Thursday, May 9th. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Alight has a consensus rating of "Buy" and a consensus price target of $11.72.
View Our Latest Research Report on ALIT
Alight Trading Down 3.4 %
Shares of ALIT traded down $0.26 during trading hours on Tuesday, hitting $7.28. 5,373,812 shares of the stock were exchanged, compared to its average volume of 6,458,064. Alight has a fifty-two week low of $6.33 and a fifty-two week high of $10.38. The business has a 50-day moving average of $8.11 and a 200-day moving average of $8.67. The firm has a market capitalization of $4.09 billion, a P/E ratio of -11.74, a price-to-earnings-growth ratio of 1.25 and a beta of 0.88. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.57 and a quick ratio of 1.57.
Alight (NYSE:ALIT - Get Free Report) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.07 earnings per share for the quarter, hitting analysts' consensus estimates of $0.07. Alight had a positive return on equity of 5.14% and a negative net margin of 9.19%. The firm had revenue of $816.00 million during the quarter, compared to the consensus estimate of $832.41 million. On average, research analysts expect that Alight will post 0.52 EPS for the current year.
Insider Buying and Selling
In other Alight news, CEO Stephan Scholl sold 83,016 shares of Alight stock in a transaction dated 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 completion of the transaction, 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Katie J. Rooney sold 2,777 shares of the company's stock in a transaction on Monday, April 1st. The shares were 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Stephan Scholl sold 83,016 shares of the stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $95.10, for a total transaction of $7,894,821.60. Following the completion of the sale, the chief executive officer now owns 8,115,183 shares of the company's stock, valued at approximately $771,753,903.30. The disclosure for this sale can be found here. 5.33% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Alight
A number of institutional investors have recently added to or reduced their stakes in ALIT. Greenlight Capital Inc. bought a new position in Alight in the 4th quarter valued at $78,831,000. Coronation Fund Managers Ltd. purchased a new stake in Alight during the first quarter worth about $55,239,000. Norges Bank bought a new stake in Alight in the fourth quarter worth about $42,947,000. UBS Group AG boosted its stake in Alight by 1,767.5% in the fourth quarter. UBS Group AG now owns 4,998,050 shares of the company's stock valued at $42,633,000 after acquiring an additional 4,730,410 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Alight by 33.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 12,171,721 shares of the company's stock valued at $103,826,000 after acquiring an additional 3,018,711 shares during the period. 96.74% of the stock is owned by institutional investors.
About Alight
(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.
Featured Articles
- Five stocks we like better than Alight
- Dividend Payout Ratio Calculator
- Chipotle Mexican Grill Stock Split: Where Does it Go From Here?
- Utilities Stocks Explained – How and Why to Invest in Utilities
- Arm Holdings and Micron: Top 2 AI Stocks to Buy and Hold
- Investing In Preferred Stock vs. Common Stock
- Best Buy Stock May Be Best Bought Before the Holiday Season
→ Kiss of death from Joe Biden (From Porter & Company) (Ad)
Should you invest $1,000 in Alight right now?
Before you consider Alight, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Alight wasn't on the list.
While Alight currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
7 AI Stocks to Invest In: An Introduction to AI Investing For Self-Directed Investors
As the AI market heats up, investors who have a vision for artificial intelligence have the potential to see real returns. Learn about the industry as a whole as well as seven companies that are getting work done with the power of AI.
Get This Free Report
