Amentum (NYSE:AMTM) Rating Lowered to “Buy” at Wall Street Zen

Amentum (NYSE:AMTM) was downgraded by investment analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued on Sunday.

A number of other brokerages have also commented on AMTM. BTIG Research lifted their price target on shares of Amentum from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, December 3rd. JMP Securities set a $35.00 price objective on Amentum in a report on Wednesday, November 26th. Citizens Jmp lifted their target price on Amentum from $30.00 to $35.00 and gave the stock a “market outperform” rating in a report on Wednesday, November 26th. Cantor Fitzgerald upped their price target on Amentum from $35.00 to $40.00 and gave the company an “overweight” rating in a research report on Tuesday, December 2nd. Finally, UBS Group initiated coverage on Amentum in a research note on Wednesday, November 19th. They issued a “neutral” rating and a $25.00 price target for the company. Seven investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, Amentum has an average rating of “Moderate Buy” and an average price target of $32.17.

Amentum Trading Down 0.7%

AMTM opened at $29.70 on Friday. The company’s 50 day moving average is $25.86 and its 200-day moving average is $24.70. The company has a market cap of $7.24 billion and a P/E ratio of 110.02. Amentum has a 1-year low of $16.01 and a 1-year high of $31.87. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.84.

Amentum (NYSE:AMTM) last issued its quarterly earnings data on Monday, November 24th. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. Amentum had a net margin of 0.46% and a return on equity of 11.57%. The business had revenue of $3.93 billion during the quarter, compared to analyst estimates of $3.61 billion. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. Equities research analysts predict that Amentum will post 2.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in AMTM. Invesco Ltd. grew its stake in Amentum by 13.0% during the third quarter. Invesco Ltd. now owns 22,116,835 shares of the company’s stock worth $529,698,000 after purchasing an additional 2,539,594 shares during the period. Norges Bank bought a new position in shares of Amentum during the 2nd quarter worth approximately $51,015,000. Primecap Management Co. CA grew its position in shares of Amentum by 19.6% during the 2nd quarter. Primecap Management Co. CA now owns 12,030,656 shares of the company’s stock worth $284,044,000 after buying an additional 1,969,067 shares during the period. Frontier Capital Management Co. LLC grew its position in shares of Amentum by 52.6% during the 2nd quarter. Frontier Capital Management Co. LLC now owns 5,460,743 shares of the company’s stock worth $128,928,000 after buying an additional 1,882,011 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Amentum in the 2nd quarter valued at $32,576,000. 39.93% of the stock is owned by institutional investors and hedge funds.

Amentum Company Profile

Amentum is a government services provider specializing in mission-critical solutions for defense, federal civilian and commercial customers around the globe. The company delivers integrated services that span the full lifecycle of complex programs and facilities, including engineering, program and project management, logistics, operations, maintenance and environmental remediation.

Core offerings include infrastructure support, energy and facilities management, environmental solutions and nuclear services.