KeyCorp Cuts Alight (NYSE:ALIT) Price Target to $10.00 (2024)

Alight (NYSE:ALIT - Get Free Report) had its target price decreased by KeyCorp from $11.00 to $10.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has an "overweight" rating on the stock. KeyCorp's target price points to a potential upside of 40.25% from the stock's current price.

Several other research firms have also recently issued reports on ALIT. Needham & Company LLC reissued a "buy" rating and issued a $11.00 target price on shares of Alight in a research note on Monday, July 1st. Canaccord Genuity Group lifted their price objective on Alight from $12.00 to $13.00 and gave the company a "buy" rating in a research report on Thursday, March 21st. DA Davidson reaffirmed a "buy" rating and set a $12.00 price objective on shares of Alight in a research report on Thursday, June 20th. Bank of America cut their price objective on Alight from $10.00 to $9.50 and set a "buy" rating on the stock in a research report on Tuesday, June 25th. Finally, UBS Group lifted their price objective on Alight from $12.00 to $13.00 and gave the company a "buy" rating in a research report on Thursday, March 21st. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $11.61.

Check Out Our Latest Analysis on ALIT

Alight Trading Up 2.4 %

Shares of NYSE ALIT traded up $0.17 during trading hours on Thursday, hitting $7.13. The company's stock had a trading volume of 3,791,077 shares, compared to its average volume of 6,281,993. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.57 and a current ratio of 1.57. The stock has a market cap of $4.00 billion, a price-to-earnings ratio of -11.23, a P/E/G ratio of 1.39 and a beta of 0.87. Alight has a 12 month low of $6.33 and a 12 month high of $10.38. The business has a 50-day simple moving average of $7.68 and a 200-day simple moving average of $8.58.

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

Insider Activity

In other news, COO Katie J. Rooney sold 47,851 shares of Alight stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $7.11, for a total transaction of $340,220.61. Following the completion of the transaction, the chief operating officer now directly owns 2,880,753 shares in the company, valued at $20,482,153.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 5.33% of the company's stock.

Hedge Funds Weigh In On Alight

A number of hedge funds have recently added to or reduced their stakes in ALIT. Greenlight Capital Inc. purchased a new position in Alight in the 4th quarter worth approximately $78,831,000. Coronation Fund Managers Ltd. purchased a new position in Alight in the 1st quarter worth approximately $55,239,000. Norges Bank purchased a new position in Alight in the 4th quarter worth approximately $42,947,000. UBS Group AG raised its holdings in Alight by 1,767.5% in the 4th quarter. UBS Group AG now owns 4,998,050 shares of the company's stock worth $42,633,000 after acquiring an additional 4,730,410 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Alight by 33.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 12,171,721 shares of the company's stock worth $103,826,000 after acquiring an additional 3,018,711 shares during the last quarter. 96.74% of the stock is currently owned by hedge funds and other institutional investors.

Alight Company Profile

(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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