Truist Financial Issues Positive Forecast for Amentum (NYSE:AMTM) Stock Price

Amentum (NYSE:AMTM) had its price target upped by Truist Financial from $34.00 to $42.00 in a research report sent to investors on Wednesday morning, Marketbeat reports. The firm currently has a buy rating on the stock.

AMTM has been the subject of a number of other reports. UBS Group started 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. Bank of America lifted their target price on Amentum from $27.00 to $30.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 31st. Cantor Fitzgerald raised their price objective on Amentum from $35.00 to $40.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 2nd. JMP Securities set a $35.00 target price on shares of Amentum in a research note on Wednesday, November 26th. Finally, Citigroup reissued an “outperform” rating on shares of Amentum in a report on Monday. Seven investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, Amentum presently has an average rating of “Moderate Buy” and an average target price of $33.50.

Amentum Stock Up 1.0%

Shares of NYSE:AMTM opened at $34.64 on Wednesday. The firm has a market cap of $8.44 billion, a PE ratio of 128.28, a price-to-earnings-growth ratio of 1.00 and a beta of -0.01. The company has a fifty day simple moving average of $28.26 and a 200 day simple moving average of $25.52. 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 has a 12-month low of $16.01 and a 12-month high of $34.93.

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

Institutional Investors Weigh In On Amentum

Large investors have recently made changes to their positions in the company. American Securities LLC grew its holdings in Amentum by 2.6% in the 2nd quarter. American Securities LLC now owns 45,026,743 shares of the company’s stock worth $1,063,081,000 after buying an additional 1,132,839 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Amentum by 13.0% during the third quarter. Invesco Ltd. now owns 22,116,835 shares of the company’s stock valued at $529,698,000 after purchasing an additional 2,539,594 shares during the period. Primecap Management Co. CA raised its stake in shares of Amentum by 19.6% during the second quarter. Primecap Management Co. CA now owns 12,030,656 shares of the company’s stock valued at $284,044,000 after purchasing an additional 1,969,067 shares in the last quarter. State Street Corp raised its stake in shares of Amentum by 7.6% during the second quarter. State Street Corp now owns 7,078,249 shares of the company’s stock valued at $167,117,000 after purchasing an additional 501,898 shares in the last quarter. Finally, Frontier Capital Management Co. LLC lifted 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. Institutional investors and hedge funds own 39.93% of the company’s stock.

About Amentum

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.