KeyCorp Lowers Alight (NYSE:ALIT) Price Target to $2.50

by · The Cerbat Gem

Alight (NYSE:ALIT – Get Free Report) had its target price decreased by investment analysts at KeyCorp from $6.00 to $2.50 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. KeyCorp’s price target indicates a potential upside of 43.68% from the company’s previous close.

Several other brokerages have also issued reports on ALIT. UBS Group decreased their price target on shares of Alight from $6.50 to $4.00 and set a “buy” rating for the company in a research note on Thursday, November 6th. DA Davidson reaffirmed a “buy” rating and issued a $6.00 price target on shares of Alight in a research report on Monday, December 8th. Wedbush cut their price objective on shares of Alight from $7.00 to $5.00 and set an “outperform” rating on the stock in a research report on Thursday, November 6th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Alight in a research report on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $4.70.

Read Our Latest Stock Analysis on Alight

Alight Stock Down 8.4%

ALIT opened at $1.74 on Thursday. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.99. The company has a market cap of $927.77 million, a PE ratio of -0.43 and a beta of 1.08. The company has a 50 day moving average of $2.16 and a 200 day moving average of $3.49. Alight has a 12 month low of $1.75 and a 12 month high of $7.66.

Alight (NYSE:ALIT – Get Free Report) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.01). The company had revenue of $533.00 million during the quarter, compared to analysts’ expectations of $539.43 million. Alight had a positive return on equity of 7.89% and a negative net margin of 94.23%.The firm’s quarterly revenue was down 4.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.09 EPS. Alight has set its FY 2025 guidance at 0.540-0.580 EPS. On average, sell-side analysts expect that Alight will post 0.54 EPS for the current year.

Insider Transactions at Alight

In related news, Director Kausik Rajgopal bought 40,000 shares of the stock in a transaction that occurred on Tuesday, November 25th. The shares were bought at an average cost of $2.24 per share, for a total transaction of $89,600.00. Following the completion of the transaction, the director owned 125,202 shares of the company’s stock, valued at approximately $280,452.48. This trade represents a 46.95% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard N. Massey acquired 100,000 shares of Alight stock in a transaction on Wednesday, November 26th. The stock was purchased at an average cost of $2.33 per share, for a total transaction of $233,000.00. Following the purchase, the director owned 100,000 shares in the company, valued at approximately $233,000. The trade was a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired 193,116 shares of company stock worth $448,984 in the last 90 days. 1.93% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Alight

A number of large investors have recently made changes to their positions in ALIT. EverSource Wealth Advisors LLC lifted its position in Alight by 152.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,201 shares of the company’s stock worth $29,000 after acquiring an additional 3,138 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of Alight by 4.7% during the second quarter. PNC Financial Services Group Inc. now owns 72,666 shares of the company’s stock worth $411,000 after purchasing an additional 3,295 shares during the period. Nomura Asset Management Co. Ltd. boosted its position in Alight by 68.8% in the second quarter. Nomura Asset Management Co. Ltd. now owns 8,100 shares of the company’s stock valued at $46,000 after buying an additional 3,300 shares during the last quarter. Winslow Asset Management Inc. boosted its position in Alight by 21.7% in the second quarter. Winslow Asset Management Inc. now owns 19,355 shares of the company’s stock valued at $110,000 after buying an additional 3,450 shares during the last quarter. Finally, Strs Ohio acquired a new position in Alight in the 1st quarter worth approximately $25,000. 96.74% of the stock is owned by institutional investors and hedge funds.

Alight Company Profile

(Get Free Report)

Alight, Inc (NYSE: ALIT) is a leading provider of cloud-based human capital and financial solutions designed to help organizations and their employees navigate critical life and work events. The company offers a comprehensive suite of services, including payroll administration, benefits enrollment and management, workforce and analytics solutions, health and welfare support, and financial wellness programs. By integrating advanced technology with expert advisory services, Alight aims to simplify the administration of human resources and benefits functions, improve employee engagement and productivity, and drive cost efficiencies for its clients.

Alight’s core platform leverages cloud architecture and automation to deliver scalable and secure solutions that address the needs of mid-sized and large enterprises.

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