KeyCorp Forecasts Strong Price Appreciation for Alight (NYSE:ALIT) Stock

Alight (NYSE:ALIT) had its price objective boosted by equities research analysts at KeyCorp from $10.00 to $11.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. KeyCorp’s price objective indicates a potential upside of 39.51% from the stock’s previous close.

ALIT has been the subject of several other reports. JPMorgan Chase & Co. lowered Alight from an “overweight” rating to a “neutral” rating and set a $8.00 target price for the company. in a research report on Tuesday, August 20th. Wedbush cut their target price on Alight from $12.00 to $10.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Citigroup decreased their price target on Alight from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Needham & Company LLC raised their price objective on Alight from $9.00 to $11.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Canaccord Genuity Group upped their price target on shares of Alight from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $10.95.

Alight Price Performance

NYSE ALIT opened at $7.89 on Wednesday. Alight has a fifty-two week low of $6.15 and a fifty-two week high of $10.38. The stock’s 50-day moving average is $7.26 and its two-hundred day moving average is $7.42. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.37 and a current ratio of 1.30.

Alight (NYSE:ALIT) last released 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. Alight had a positive return on equity of 5.61% and a negative net margin of 7.95%. The company had revenue of $555.00 million for the quarter, compared to the consensus estimate of $538.39 million. During the same period in the previous year, the business earned $0.07 earnings per share. The company’s quarterly revenue was down .4% on a year-over-year basis. Equities research analysts anticipate that Alight will post 0.42 EPS for the current year.

Insider Buying and Selling

In other Alight news, Director William P. Foley II sold 5,000,000 shares of Alight stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $8.25, for a total value of $41,250,000.00. Following the completion of the sale, the director now owns 883,323 shares of the company’s stock, valued at approximately $7,287,414.75. The trade was a 84.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 5.33% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ALIT. Nisa Investment Advisors LLC lifted its stake in Alight by 65.3% in 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. bought a new stake in Alight in the third quarter worth about $74,000. KBC Group NV grew its position in Alight by 24.0% in the 3rd quarter. KBC Group NV now owns 12,049 shares of the company’s stock valued at $89,000 after acquiring an additional 2,331 shares during the last quarter. FMR LLC grew its holdings in shares of Alight by 44.4% in the third quarter. FMR LLC now owns 11,995 shares of the company’s stock worth $89,000 after purchasing an additional 3,689 shares during the last quarter. Finally, Motco bought a new position in Alight in the 1st quarter worth about $95,000. Hedge funds and other institutional investors own 96.74% of the company’s stock.

About Alight

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.