Bank of America Increases Amentum (NYSE:AMTM) Price Target to $27.00

Key Points

• Bank of America has increased Amentum's price target from $26.00 to $27.00, maintaining a "neutral" rating on the stock, which suggests a potential upside of 1.87% from its current price.
• Amentum's shares have risen 3.3%, reaching $26.51, with significant trading volume of over 1 million shares.
• The company has seen varying assessments from analysts, with target prices ranging from $19.00 to $30.00 and an average rating of "Hold" among the analysts covering the stock.

Amentum (NYSE:AMTM - Free Report) had its target price hoisted by Bank of America from $26.00 to $27.00 in a research note released on Wednesday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

AMTM has been the subject of a number of other reports. Citizens Jmp assumed coverage on shares of Amentum in a research note on Monday, May 12th. They set an "outperform" rating and a $30.00 price objective for the company. Truist Financial raised their price objective on shares of Amentum from $24.00 to $30.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. The Goldman Sachs Group raised their price objective on shares of Amentum from $21.00 to $26.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 13th. BTIG Research started coverage on shares of Amentum in a research note on Tuesday, April 15th. They issued a "buy" rating and a $30.00 target price for the company. Finally, Royal Bank Of Canada lifted their target price on shares of Amentum from $24.00 to $26.00 and gave the stock a "sector perform" rating in a research note on Thursday, August 7th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Amentum has an average rating of "Hold" and a consensus price target of $27.30.

Amentum Stock Performance

NYSE AMTM traded down $0.06 during trading hours on Wednesday, hitting $25.12. 1,443,462 shares of the stock were exchanged, compared to its average volume of 2,258,456. The company has a market cap of $6.11 billion and a price-to-earnings ratio of 64.41. Amentum has a 12-month low of $16.01 and a 12-month high of $34.50. The stock has a 50-day moving average of $24.14 and a 200 day moving average of $21.39. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.97.

Amentum (NYSE:AMTM - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.53 by $0.03. Amentum had a net margin of 0.41% and a return on equity of 10.90%. The company had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $3.51 billion. Amentum's revenue was up 66.2% on a year-over-year basis. As a group, equities research analysts forecast that Amentum will post 2.1 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Atlantic Union Bankshares Corp purchased a new stake in Amentum in the 2nd quarter worth approximately $25,000. Caitong International Asset Management Co. Ltd raised its holdings in shares of Amentum by 1,517.0% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 1,520 shares of the company's stock valued at $36,000 after purchasing an additional 1,426 shares in the last quarter. Quarry LP acquired a new position in Amentum in the 1st quarter valued at $30,000. Signaturefd LLC grew its stake in Amentum by 108.0% in the 1st quarter. Signaturefd LLC now owns 1,764 shares of the company's stock valued at $32,000 after buying an additional 916 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in Amentum by 433.5% in the 2nd quarter. Smartleaf Asset Management LLC now owns 1,814 shares of the company's stock valued at $43,000 after buying an additional 1,474 shares during the last quarter. 39.93% of the stock is currently owned by institutional investors.

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.