Amentum (NYSE:AMTM) Shares Gap Up Following Analyst Upgrade

Amentum Holdings, Inc. (NYSE:AMTM)’s stock price gapped up prior to trading on Thursday after Cantor Fitzgerald upgraded the stock from a neutral rating to an overweight rating. The stock had previously closed at $22.59, but opened at $23.28. Cantor Fitzgerald now has a $35.00 price target on the stock, up from their previous price target of $25.00. Amentum shares last traded at $23.00, with a volume of 149,074 shares trading hands.

Other equities analysts also recently issued research reports about the stock. Bank of America raised their price target on shares of Amentum from $26.00 to $27.00 and gave the company a “neutral” rating in a research note on Wednesday, August 13th. Truist Financial raised their price target on shares of Amentum from $24.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Raymond James Financial reaffirmed an “outperform” rating and set a $30.00 price target on shares of Amentum in a research note on Monday, August 18th. Royal Bank Of Canada raised their price target on shares of Amentum from $24.00 to $26.00 and gave the company a “sector perform” rating in a research note on Thursday, August 7th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $30.00 price target on shares of Amentum in a research note on Monday, August 18th. Six investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $28.40.

Institutional Investors Weigh In On Amentum

A number of large investors have recently bought and sold shares of AMTM. American Securities LLC acquired a new stake in Amentum in the first quarter worth $798,869,000. Primecap Management Co. CA grew its holdings in Amentum by 56.9% in the first quarter. Primecap Management Co. CA now owns 10,061,589 shares of the company’s stock worth $183,121,000 after purchasing an additional 3,647,210 shares during the period. Invesco Ltd. grew its holdings in Amentum by 24.1% in the first quarter. Invesco Ltd. now owns 17,191,110 shares of the company’s stock worth $312,878,000 after purchasing an additional 3,334,871 shares during the period. Norges Bank acquired a new stake in Amentum in the second quarter worth $51,015,000. Finally, Frontier Capital Management Co. LLC grew its holdings in Amentum by 52.6% in the second quarter. Frontier Capital Management Co. LLC now owns 5,460,743 shares of the company’s stock worth $128,928,000 after purchasing an additional 1,882,011 shares during the period. 39.93% of the stock is currently owned by institutional investors and hedge funds.

Amentum Price Performance

The company has a debt-to-equity ratio of 0.97, a current ratio of 1.58 and a quick ratio of 1.58. The firm has a market capitalization of $5.44 billion and a price-to-earnings ratio of 57.35. The business’s fifty day simple moving average is $24.46 and its 200 day simple moving average is $22.10.

Amentum (NYSE:AMTM) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.03. The business had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $3.51 billion. Amentum had a net margin of 0.41% and a return on equity of 10.90%. The firm’s revenue was up 66.2% compared to the same quarter last year. Amentum has set its FY 2025 guidance at 2.050-2.200 EPS. On average, research analysts forecast that Amentum Holdings, Inc. will post 2.1 EPS for the current year.

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.