Canaccord Genuity Group Forecasts Strong Price Appreciation for Alight (NYSE:ALIT) Stock

Alight (NYSE:ALIT) had its target price lifted by Canaccord Genuity Group from $11.00 to $12.00 in a research note released on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages also recently commented on ALIT. Wedbush reduced their price objective on shares of Alight from $12.00 to $10.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Needham & Company LLC lifted their price target on Alight from $9.00 to $11.00 and gave the company a “buy” rating in a research note on Wednesday. JPMorgan Chase & Co. cut Alight from an “overweight” rating to a “neutral” rating and set a $8.00 price objective for the company. in a research report on Tuesday, August 20th. Finally, Citigroup decreased their target price on shares of Alight from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $10.95.

Alight Stock Down 0.4 %

Alight stock opened at $8.43 on Wednesday. The stock has a 50 day moving average of $7.25 and a two-hundred day moving average of $7.42. Alight has a twelve month low of $6.15 and a twelve month high of $10.38. The stock has a market capitalization of $4.60 billion, a price-to-earnings ratio of -17.55 and a beta of 0.87. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.55.

Alight (NYSE:ALIT) last posted its quarterly earnings data on Tuesday, November 12th. The company reported $0.09 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.09. The firm had revenue of $555.00 million for the quarter, compared to analyst estimates of $538.39 million. Alight had a negative net margin of 7.95% and a positive return on equity of 5.53%. Alight’s quarterly revenue was down .4% on a year-over-year basis. During the same period last year, the firm posted $0.07 EPS. As a group, research analysts expect that Alight will post 0.42 earnings per share for the current year.

Alight Announces Dividend

The business also recently declared a — dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.04 per share. The ex-dividend date of this dividend is Monday, December 2nd.

Hedge Funds Weigh In On Alight

Institutional investors have recently made changes to their positions in the stock. Nisa Investment Advisors LLC increased its position in Alight by 65.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 7,498 shares of the company’s stock worth $55,000 after purchasing an additional 2,961 shares in the last quarter. Oppenheimer & Co. Inc. acquired a new stake in shares of Alight during the 3rd quarter worth about $74,000. KBC Group NV grew its holdings in shares of Alight by 24.0% during the third quarter. KBC Group NV now owns 12,049 shares of the company’s stock worth $89,000 after buying an additional 2,331 shares in the last quarter. FMR LLC raised its position in shares of Alight by 44.4% in the third quarter. FMR LLC now owns 11,995 shares of the company’s stock valued at $89,000 after buying an additional 3,689 shares during the last quarter. Finally, Motco purchased a new position in shares of Alight during the first quarter valued at approximately $95,000. 96.74% of the stock is owned by institutional investors and hedge funds.

Alight Company Profile

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.