KeyCorp Issues Positive Forecast for Alight (NYSE:ALIT) Stock Price

Alight (NYSE:ALIT - Free Report) had its price objective boosted by KeyCorp from $10.00 to $11.00 in a research note released on Wednesday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other research firms also recently weighed in on ALIT. Wedbush cut their price target on shares of Alight from $12.00 to $10.00 and set an "outperform" rating on the stock in a research note on Thursday, August 8th. Canaccord Genuity Group raised their target price on shares of Alight from $11.00 to $12.00 and gave the company a "buy" rating in a research note on Wednesday. Citigroup cut their target price on shares of Alight from $12.00 to $11.00 and set a "buy" rating on the stock in a research note on Thursday, August 29th. JPMorgan Chase & Co. downgraded shares of Alight from an "overweight" rating to a "neutral" rating and set a $8.00 target price on the stock. in a research note on Tuesday, August 20th. Finally, Needham & Company LLC raised their target price on shares of Alight from $9.00 to $11.00 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. According to data from MarketBeat.com, Alight has a consensus rating of "Moderate Buy" and a consensus price target of $10.95.

Alight Trading Down 0.4 %

NYSE ALIT traded down $0.04 during mid-day trading on Wednesday, reaching $8.43. 20,599,822 shares of the stock were exchanged, compared to its average volume of 5,714,754. Alight has a 1-year low of $6.15 and a 1-year high of $10.38. The business's fifty day simple moving average is $7.25 and its 200 day simple moving average is $7.42. The stock has a market capitalization of $4.60 billion, a PE ratio of -17.55 and a beta of 0.87. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.37 and a current ratio of 1.37.

Alight (NYSE:ALIT - Get Free Report) last announced its earnings results on Tuesday, November 12th. The company reported $0.09 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.09. Alight had a negative net margin of 7.95% and a positive return on equity of 5.53%. The firm had revenue of $555.00 million for the quarter, compared to analyst estimates of $538.39 million. During the same quarter last year, the business earned $0.07 earnings per share. Alight's revenue was down .4% compared to the same quarter last year. On average, research analysts anticipate that Alight will post 0.42 earnings per share for the current fiscal year.

Alight Dividend Announcement

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Ingalls & Snyder LLC boosted its holdings in shares of Alight by 20.9% in the second quarter. Ingalls & Snyder LLC now owns 12,919 shares of the company's stock valued at $95,000 after acquiring an additional 2,235 shares in the last quarter. Amalgamated Bank boosted its holdings in shares of Alight by 16.2% in the second quarter. Amalgamated Bank now owns 16,434 shares of the company's stock valued at $121,000 after acquiring an additional 2,289 shares in the last quarter. KBC Group NV boosted its holdings in shares of Alight by 24.0% in the third 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 in the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of Alight by 65.3% in the second quarter. Nisa Investment Advisors LLC now owns 7,498 shares of the company's stock valued at $55,000 after acquiring an additional 2,961 shares in the last quarter. Finally, FMR LLC boosted 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 valued at $89,000 after acquiring an additional 3,689 shares in the last quarter. 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.