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

Amentum (NYSE:AMTM - Get Free Report) has been assigned a $24.00 target price by Royal Bank of Canada in a note issued to investors on Wednesday, MarketBeat reports. The brokerage presently has a "sector perform" rating on the stock. Royal Bank of Canada's price target suggests a potential upside of 13.37% from the company's previous close.

Several other research firms have also recently weighed in on AMTM. The Goldman Sachs Group started coverage on Amentum in a research report on Thursday, March 20th. They set a "neutral" rating and a $21.00 price objective for the company. Truist Financial lowered their price objective on Amentum from $31.00 to $24.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Citizens Jmp began coverage on Amentum in a research report on Monday, May 12th. They set an "outperform" rating and a $30.00 price target on the stock. Morgan Stanley began coverage on Amentum in a research report on Wednesday, April 16th. They issued an "underweight" rating and a $19.00 price objective on the stock. Finally, Cantor Fitzgerald upgraded Amentum to a "hold" rating in a research report on Tuesday, February 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $25.38.

Amentum Trading Up 2.5%

AMTM opened at $21.17 on Wednesday. The stock has a 50-day moving average of $19.66 and a 200-day moving average of $21.38. Amentum has a 52-week low of $16.01 and a 52-week high of $34.47. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 1.02.

Amentum (NYSE:AMTM - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.53 earnings per share 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. Equities analysts forecast that Amentum will post 2.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. American Securities LLC acquired a new stake in shares of Amentum in the 1st quarter valued at about $798,869,000. Kovitz Investment Group Partners LLC lifted its position in shares of Amentum by 10,851.5% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 14,787,345 shares of the company's stock worth $310,978,000 after buying an additional 14,652,319 shares in the last quarter. Invesco Ltd. lifted its position in shares of Amentum by 77.6% during the 4th quarter. Invesco Ltd. now owns 13,856,239 shares of the company's stock worth $291,397,000 after buying an additional 6,055,638 shares in the last quarter. Primecap Management Co. CA lifted its position in shares of Amentum by 56.9% during the 1st quarter. Primecap Management Co. CA now owns 10,061,589 shares of the company's stock worth $183,121,000 after buying an additional 3,647,210 shares in the last quarter. Finally, Cooper Creek Partners Management LLC raised its holdings in shares of Amentum by 396.3% in the 4th quarter. Cooper Creek Partners Management LLC now owns 4,157,034 shares of the company's stock worth $87,422,000 after purchasing an additional 3,319,364 shares during the period. 39.93% of the stock is 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.