Alight (NYSE:ALIT) Given New $9.50 Price Target at Bank of America (2024)

Alight (NYSE:ALIT - Get Free Report) had its target price lowered by research analysts at Bank of America from $10.00 to $9.50 in a report issued on Tuesday, Benzinga reports. The firm currently has a "buy" rating on the stock. Bank of America's target price would indicate a potential upside of 30.14% from the company's current price.

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A number of other research analysts have also weighed in on ALIT. Wedbush cut their target price on shares of Alight from $14.00 to $12.00 and set an "outperform" rating for the company in a report on Friday, May 10th. DA Davidson restated a "buy" rating and issued a $12.00 price target on shares of Alight in a research report on Thursday, June 20th. Needham & Company LLC decreased their target price on Alight from $13.00 to $11.00 and set a "buy" rating for the company in a research report on Thursday, May 9th. KeyCorp decreased their target price on Alight from $12.00 to $11.00 and set an "overweight" rating for the company in a research report on Thursday, May 9th. Finally, Canaccord Genuity Group lifted their price objective on Alight from $12.00 to $13.00 and gave the company a "buy" rating in a report on Thursday, March 21st. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Alight currently has an average rating of "Buy" and a consensus price target of $11.72.

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Check Out Our Latest Report on Alight

Alight Stock Performance

ALIT traded down $0.24 during midday trading on Tuesday, hitting $7.30. 2,067,169 shares of the company traded hands, compared to its average volume of 6,430,736. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $4.10 billion, a PE ratio of -11.77, a price-to-earnings-growth ratio of 1.25 and a beta of 0.88. The company's 50-day moving average is $8.15 and its 200 day moving average is $8.67. Alight has a 52 week low of $6.33 and a 52 week high of $10.38.

Alight (NYSE:ALIT - Get Free Report) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $0.07 earnings per share for the quarter, hitting the consensus estimate of $0.07. Alight had a negative net margin of 9.19% and a positive return on equity of 5.14%. The firm had revenue of $816.00 million for the quarter, compared to analysts' expectations of $832.41 million. On average, research analysts expect that Alight will post 0.52 EPS for the current year.

Insider Transactions at Alight

In related news, insider Katie J. Rooney sold 2,777 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 2,927,314 shares in the company, valued at approximately $28,394,945.80. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, insider Katie J. Rooney sold 2,777 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 2,927,314 shares in the company, valued at approximately $28,394,945.80. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Stephan Scholl sold 83,016 shares of the stock in a transaction that occurred on 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 disclosure for this sale can be found here. Insiders own 5.33% of the company's stock.

Institutional Investors Weigh In On Alight

Hedge funds have recently bought and sold shares of the stock. DekaBank Deutsche Girozentrale purchased a new position in shares of Alight during the 3rd quarter valued at approximately $52,000. First Horizon Advisors Inc. lifted its holdings in Alight by 38.9% in the 4th quarter. First Horizon Advisors Inc. now owns 6,776 shares of the company's stock valued at $58,000 after purchasing an additional 1,897 shares in the last quarter. Motco purchased a new position in Alight in the 1st quarter valued at $95,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Alight in the 3rd quarter valued at $109,000. Finally, Duality Advisers LP purchased a new position in Alight in the 1st quarter valued at $119,000. Hedge funds and other institutional investors own 96.74% of the company's stock.

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.

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Alight (NYSE:ALIT) Given New $9.50 Price Target at Bank of America (3)

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Alight (NYSE:ALIT) Given New $9.50 Price Target at Bank of America (2024)
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