Alight, Inc. (NYSE:ALIT) Receives Average Recommendation of “Buy” from Brokerages

Alight, Inc. (NYSE:ALIT) has been assigned a consensus rating of “Buy” from the seven ratings firms that are covering the firm, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a buy rating. The average 1 year price objective among brokers that have covered the stock in the last year is $9.0714.

A number of brokerages have weighed in on ALIT. Wedbush decreased their target price on Alight from $9.00 to $7.00 and set an “outperform” rating for the company in a research report on Wednesday, August 6th. Needham & Company LLC reduced their price target on shares of Alight from $8.00 to $6.00 and set a “buy” rating for the company in a research note on Wednesday, August 6th. Finally, UBS Group lowered their price objective on shares of Alight from $10.00 to $6.50 and set a “buy” rating on the stock in a research report on Wednesday, August 6th.

Institutional Trading of Alight

Hedge funds have recently bought and sold shares of the company. Nomura Holdings Inc. purchased a new position in Alight in the second quarter worth about $32,050,000. Winslow Asset Management Inc. lifted its stake in shares of Alight by 21.7% in the 2nd quarter. Winslow Asset Management Inc. now owns 19,355 shares of the company’s stock worth $110,000 after purchasing an additional 3,450 shares during the period. Tower Research Capital LLC TRC boosted its holdings in shares of Alight by 37.9% in the second quarter. Tower Research Capital LLC TRC now owns 50,810 shares of the company’s stock worth $288,000 after buying an additional 13,960 shares during the last quarter. Corient Private Wealth LLC bought a new stake in Alight during the second quarter valued at approximately $139,000. Finally, Captrust Financial Advisors bought a new stake in Alight during the second quarter valued at approximately $124,000. Hedge funds and other institutional investors own 96.74% of the company’s stock.

Alight Stock Performance

ALIT stock opened at $3.8550 on Wednesday. The stock’s 50 day simple moving average is $5.20 and its 200 day simple moving average is $5.60. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.64. Alight has a 12-month low of $3.62 and a 12-month high of $8.93. The stock has a market capitalization of $2.08 billion, a PE ratio of -1.74 and a beta of 1.00.

Alight (NYSE:ALIT) last posted its earnings results on Tuesday, August 5th. The company reported $0.10 EPS for the quarter, hitting analysts’ consensus estimates of $0.10. The business had revenue of $528.00 million during the quarter, compared to analyst estimates of $525.26 million. Alight had a positive return on equity of 6.26% and a negative net margin of 50.37%.The company’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.05 EPS. Alight has set its FY 2025 guidance at 0.580-0.640 EPS. As a group, research analysts forecast that Alight will post 0.54 earnings per share for the current fiscal year.

Alight Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend is Tuesday, September 2nd. Alight’s dividend payout ratio is presently -7.24%.

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.