Amentum (NYSE:AMTM) Coverage Initiated by Analysts at Bank of America

Bank of America began coverage on shares of Amentum (NYSE:AMTM) in a report issued on Tuesday morning, MarketBeat reports. The firm issued a neutral rating and a $24.00 price objective on the stock.

A number of other research analysts also recently issued reports on the company. Cantor Fitzgerald upgraded Amentum to a “hold” rating in a research note on Tuesday, February 25th. The Goldman Sachs Group initiated coverage on Amentum in a research note on Thursday, March 20th. They set a “neutral” rating and a $21.00 price objective for the company. Morgan Stanley initiated coverage on Amentum in a research note on Wednesday, April 16th. They set an “underweight” rating and a $19.00 price objective for the company. Citizens Jmp initiated coverage on Amentum in a research note on Monday, May 12th. They set an “outperform” rating and a $30.00 price objective for the company. Finally, Truist Financial cut their price objective on Amentum from $31.00 to $24.00 and set a “buy” rating for the company in a research note on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, Amentum has a consensus rating of “Hold” and an average price target of $25.22.

Amentum Price Performance

Amentum stock opened at $22.29 on Tuesday. The business has a 50-day simple moving average of $20.37 and a two-hundred day simple moving average of $20.75. Amentum has a 52-week low of $16.01 and a 52-week high of $34.47. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.59 and a current ratio of 1.59.

Amentum (NYSE:AMTM) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.05. The firm had revenue of $3.49 billion for the quarter, compared to the consensus estimate of $3.44 billion. On average, sell-side analysts predict that Amentum will post 2.1 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. New York State Common Retirement Fund boosted its stake in Amentum by 382.6% in the 4th quarter. New York State Common Retirement Fund now owns 378,952 shares of the company’s stock worth $7,969,000 after purchasing an additional 300,431 shares during the period. Yousif Capital Management LLC boosted its position in shares of Amentum by 236.8% during the 4th quarter. Yousif Capital Management LLC now owns 48,770 shares of the company’s stock valued at $1,026,000 after acquiring an additional 34,291 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Amentum by 66.2% during 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 acquiring an additional 503,741 shares during the last quarter. Van ECK Associates Corp bought a new position in shares of Amentum during the 4th quarter valued at approximately $23,812,000. Finally, IFP Advisors Inc boosted its position in shares of Amentum by 119.2% during the 4th quarter. IFP Advisors Inc now owns 1,532 shares of the company’s stock valued at $35,000 after acquiring an additional 833 shares during the last quarter. 39.93% of the stock is currently owned by institutional investors.

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.