Bank of America Begins Coverage on Amentum (NYSE:AMTM)

Bank of America started coverage on shares of Amentum (NYSE:AMTM - Free Report) in a research note issued to investors on Tuesday, Marketbeat reports. The firm issued a neutral rating and a $24.00 price objective on the stock.

Several other research analysts also recently commented on AMTM. Citizens Jmp began coverage on Amentum in a research note on Monday, May 12th. They set an "outperform" rating and a $30.00 target price for the company. Royal Bank of Canada set a $24.00 price objective on shares of Amentum and gave the stock a "sector perform" rating in a research report on Wednesday, May 21st. Cantor Fitzgerald upgraded shares of Amentum to a "hold" rating in a report on Tuesday, February 25th. BTIG Research assumed coverage on shares of Amentum in a research report on Tuesday, April 15th. They issued a "buy" rating and a $30.00 price objective on the stock. Finally, Truist Financial reduced their target price on shares of Amentum from $31.00 to $24.00 and set a "buy" rating for the company in a report on Monday, April 14th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, Amentum presently has an average rating of "Hold" and a consensus target price of $25.22.

Amentum Trading Up 0.5%

AMTM stock traded up $0.12 during trading hours on Tuesday, reaching $23.08. The stock had a trading volume of 714,850 shares, compared to its average volume of 2,762,217. The stock has a 50-day simple moving average of $20.59 and a 200 day simple moving average of $20.75. Amentum has a fifty-two week low of $16.01 and a fifty-two 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 - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.05. The firm had revenue of $3.49 billion during the quarter, compared to analyst estimates of $3.44 billion. Equities research analysts anticipate that Amentum will post 2.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Amentum

A number of hedge funds have recently added to or reduced their stakes in the stock. Rhumbline Advisers grew its holdings in shares of Amentum by 5.1% during the 1st quarter. Rhumbline Advisers now owns 310,103 shares of the company's stock worth $5,644,000 after purchasing an additional 14,919 shares in the last quarter. Security National Bank of Sioux City Iowa IA lifted its position in Amentum by 11.8% during the first quarter. Security National Bank of Sioux City Iowa IA now owns 17,069 shares of the company's stock worth $311,000 after purchasing an additional 1,800 shares during the period. Nexpoint Asset Management L.P. grew its stake in Amentum by 144.0% during the first quarter. Nexpoint Asset Management L.P. now owns 43,900 shares of the company's stock worth $799,000 after buying an additional 25,905 shares in the last quarter. Millennium Management LLC increased its holdings in Amentum by 68.1% in the 1st quarter. Millennium Management LLC now owns 2,011,792 shares of the company's stock valued at $36,615,000 after buying an additional 815,218 shares during the period. Finally, Engine Capital Management LP raised its position in shares of Amentum by 2.2% in the 1st quarter. Engine Capital Management LP now owns 635,255 shares of the company's stock valued at $11,562,000 after buying an additional 13,855 shares in the last quarter. Institutional investors own 39.93% of the company's stock.

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.