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

Shares of Alight, Inc. (NYSE:ALIT) have earned a consensus recommendation of “Hold” from the eight research firms that are currently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $49.33.

Several brokerages have weighed in on ALIT. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Alight in a research report on Tuesday, August 4th. Citigroup reissued a “neutral” rating and set a $16.00 price target (down from $20.00) on shares of Alight in a report on Thursday, August 20th. DA Davidson lowered their price target on shares of Alight from $32.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, September 24th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Alight in a research report on Thursday, August 20th.

Alight Stock Performance

Shares of NYSE:ALIT traded down $0.24 during trading on Friday, hitting $8.97. 278,114 shares of the company traded hands, compared to its average volume of 505,130. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.93. The business’s fifty day moving average is $12.15 and its 200-day moving average is $14.13. The stock has a market capitalization of $241.79 million, a price-to-earnings ratio of -0.12, a PEG ratio of 0.19 and a beta of 1.69. Alight has a one year low of $8.51 and a one year high of $64.00.

Alight (NYSE:ALIT) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.15. The business had revenue of $511.00 million for the quarter, compared to analysts’ expectations of $497.02 million. Alight had a positive return on equity of 16.05% and a negative net margin of 90.90%. As a group, equities analysts predict that Alight will post 4.12 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Alight

Several hedge funds and other institutional investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. grew its holdings in Alight by 23.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 68,006 shares of the company’s stock worth $40,000 after buying an additional 12,757 shares in the last quarter. Royal Bank of Canada raised its stake in Alight by 11.4% during the 1st quarter. Royal Bank of Canada now owns 167,489 shares of the company’s stock valued at $97,000 after acquiring an additional 17,076 shares in the last quarter. Global Endowment Management LP boosted its position in Alight by 26.9% during the 4th quarter. Global Endowment Management LP now owns 93,980 shares of the company’s stock worth $183,000 after acquiring an additional 19,946 shares during the period. DGS Capital Management LLC acquired a new position in Alight during the 4th quarter worth $53,000. Finally, Hsbc Holdings PLC grew its stake in shares of Alight by 22.4% in the first quarter. Hsbc Holdings PLC now owns 149,462 shares of the company’s stock worth $87,000 after purchasing an additional 27,345 shares in the last quarter. 96.74% of the stock is currently owned by institutional investors and hedge funds.

About Alight

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.