Amentum (NYSE:AMTM) PT Set at $24.00 by Royal Bank of Canada

Amentum (NYSE:AMTM - Get Free Report) received a $24.00 price target from stock analysts at Royal Bank of Canada in a research note issued to investors on Wednesday, MarketBeat Ratings reports. The firm presently has a "sector perform" rating on the stock. Royal Bank of Canada's price objective would indicate a potential upside of 16.71% from the stock's previous close.

A number of other analysts have also commented on AMTM. The Goldman Sachs Group began coverage on Amentum in a report on Thursday, March 20th. They set a "neutral" rating and a $21.00 price objective for the company. Truist Financial decreased their price target on Amentum from $31.00 to $24.00 and set a "buy" rating for the company in a report on Monday, April 14th. Citizens Jmp started coverage on Amentum in a research note on Monday, May 12th. They set an "outperform" rating and a $30.00 price objective on the stock. BTIG Research began 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, Morgan Stanley assumed coverage on shares of Amentum in a report on Wednesday, April 16th. They set an "underweight" rating and a $19.00 price objective for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, Amentum presently has an average rating of "Hold" and a consensus target price of $25.38.

Amentum Stock Performance

AMTM stock traded down $0.65 during mid-day trading on Wednesday, hitting $20.56. The stock had a trading volume of 1,351,454 shares, compared to its average volume of 2,749,981. The firm has a fifty day simple moving average of $19.70 and a 200 day simple moving average of $21.17. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.59 and a quick ratio of 1.59. Amentum has a 52 week low of $16.01 and a 52 week high of $34.47.

Amentum (NYSE:AMTM - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.48 by $0.05. The business had revenue of $3.49 billion for the quarter, compared to analyst estimates of $3.44 billion. On average, equities research analysts expect that Amentum will post 2.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Huntington National Bank purchased a new stake in shares of Amentum during the fourth quarter worth about $30,000. IFP Advisors Inc lifted its holdings in Amentum by 119.2% in the 4th quarter. IFP Advisors Inc now owns 1,532 shares of the company's stock worth $35,000 after buying an additional 833 shares during the period. Quarry LP bought a new stake in shares of Amentum in the 1st quarter worth approximately $30,000. Asset Planning Inc purchased a new position in Amentum during the 4th quarter valued at $36,000. Finally, Horizon Investments LLC purchased a new position in shares of Amentum during the fourth quarter valued at about $36,000. 39.93% of the stock is owned by hedge funds and other 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.