Amentum (NYSE:AMTM) Price Target Cut to $24.00 by Analysts at Truist Financial

Amentum (NYSE:AMTM) had its price objective cut by Truist Financial from $31.00 to $24.00 in a research report released on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

AMTM has been the topic of several other reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $24.00 price target on shares of Amentum in a research note on Thursday, February 6th. Cantor Fitzgerald upgraded shares of Amentum to a “hold” rating in a research note on Tuesday, February 25th. Finally, The Goldman Sachs Group started coverage on Amentum in a research report on Thursday, March 20th. They set a “neutral” rating and a $21.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $24.80.

Amentum Stock Up 2.3 %

Amentum stock opened at $18.56 on Monday. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.59 and a quick ratio of 1.59. The stock’s fifty day moving average price is $19.03. Amentum has a 12-month low of $16.01 and a 12-month high of $34.47.

Amentum (NYSE:AMTM) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.06. On average, equities research analysts expect that Amentum will post 2.1 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Steven J. Demetriou purchased 100,000 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The shares were acquired at an average price of $20.81 per share, with a total value of $2,081,000.00. Following the purchase, the insider now directly owns 620,893 shares of the company’s stock, valued at $12,920,783.33. The trade was a 19.20 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Barbara Loughran purchased 4,600 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was purchased at an average price of $21.23 per share, with a total value of $97,658.00. Following the transaction, the director now owns 4,600 shares of the company’s stock, valued at approximately $97,658. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 18.67% of the company’s stock.

Institutional Trading of Amentum

Large investors have recently modified their holdings of the business. Anchor Investment Management LLC acquired a new position in Amentum in the 3rd quarter valued at $32,000. Huntington National Bank purchased a new position in Amentum in the fourth quarter valued at about $30,000. IFP Advisors Inc lifted its position in Amentum by 119.2% during the 4th quarter. IFP Advisors Inc now owns 1,532 shares of the company’s stock worth $35,000 after acquiring an additional 833 shares in the last quarter. Asset Planning Inc purchased a new position in shares of Amentum in the fourth quarter valued at $36,000. Finally, Horizon Investments LLC purchased a new position in Amentum in the 4th quarter valued at about $36,000. 39.93% of the stock is currently owned by institutional investors and hedge funds.

Amentum Company Profile

Amentum Holdings, Inc provides engineering and technology solutions to address challenges in science, security, and sustainability. It serves various markets, such as energy and environment, space, intelligence, defense, civilian, commercial, and international markets. The company was incorporated in 2010 and is headquatered in Chantilly, Virginia.