Amentum (NYSE:AMTM) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Amentum (NYSE:AMTM) had its target price increased by analysts at Royal Bank of Canada from $22.00 to $24.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective suggests a potential upside of 13.37% from the company’s current price.

Several other equities research analysts also recently issued reports on the company. BTIG Research started coverage on Amentum in a report on Tuesday, April 15th. They issued a “buy” rating and a $30.00 price objective on the stock. Citizens Jmp started coverage on Amentum in a research note on Monday, May 12th. They set an “outperform” rating and a $30.00 target price for the company. Truist Financial lowered their target price on Amentum from $31.00 to $24.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Cantor Fitzgerald raised 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 note on Thursday, March 20th. They set a “neutral” rating and a $21.00 target price for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $25.38.

Amentum Stock Performance

AMTM stock opened at $21.17 on Wednesday. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 1.02. Amentum has a 12-month low of $16.01 and a 12-month high of $34.47. The business’s fifty day moving average price is $19.66 and its 200 day moving average price is $21.38.

Amentum (NYSE:AMTM) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.05. The firm had revenue of $3.49 billion during the quarter, compared to analysts’ expectations of $3.44 billion. On average, equities research analysts expect that Amentum will post 2.1 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Foundations Investment Advisors LLC acquired a new position in shares of Amentum during the 4th quarter worth about $409,000. New York State Common Retirement Fund boosted its position in shares of Amentum by 382.6% during the 4th quarter. New York State Common Retirement Fund now owns 378,952 shares of the company’s stock worth $7,969,000 after acquiring an additional 300,431 shares in the last quarter. Yousif Capital Management LLC boosted its position in shares of Amentum by 236.8% in the 4th quarter. Yousif Capital Management LLC now owns 48,770 shares of the company’s stock valued at $1,026,000 after purchasing an additional 34,291 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Amentum by 66.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,264,257 shares of the company’s stock valued at $26,587,000 after purchasing an additional 503,741 shares during the period. Finally, Red Spruce Capital LLC acquired a new stake in shares of Amentum in the 4th quarter valued at about $254,000. 39.93% of the stock is owned by institutional investors and hedge funds.

About Amentum

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.