The Goldman Sachs Group Issues Positive Forecast for Amentum (NYSE:AMTM) Stock Price

Key Points

• Goldman Sachs has raised its price target for Amentum (NYSE:AMTM) from $21.00 to $26.00, maintaining a "neutral" rating despite a projected downside of 1.33% from the previous close.
• The consensus target price among analysts for Amentum is currently $26.67, with mixed ratings that include one sell, four holds, and four buy ratings.
• Amentum's shares rose by 2.7% during trading, reaching $26.35, with a recent earnings report showing a year-over-year revenue increase of 66.2%.

Amentum (NYSE:AMTM - Get Free Report) had its price target hoisted by The Goldman Sachs Group from $21.00 to $26.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. The Goldman Sachs Group's price target would indicate a potential upside of 3.22% from the stock's current price.

Several other analysts have also recently weighed in on AMTM. Bank of America began coverage on shares of Amentum in a research note on Tuesday, June 10th. They issued a "neutral" rating and a $24.00 price objective on the stock. Morgan Stanley began coverage on shares of Amentum in a research note on Wednesday, April 16th. They issued an "underweight" rating and a $19.00 price objective on the stock. Truist Financial boosted 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. Royal Bank Of Canada boosted their price objective 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. Finally, Citizens Jmp assumed coverage on shares of Amentum in a research note on Monday, May 12th. They issued an "outperform" rating and a $30.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $27.00.

Amentum Price Performance

Shares of NYSE AMTM traded down $0.25 during midday trading on Wednesday, reaching $25.19. 1,235,520 shares of the company were exchanged, compared to its average volume of 1,652,314. The stock's 50-day moving average price is $24.14 and its 200-day moving average price is $21.38. The stock has a market cap of $6.13 billion and a P/E ratio of 64.59. Amentum has a one year low of $16.01 and a one year high of $34.50. 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 issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $3.51 billion. The business's quarterly revenue was up 66.2% on a year-over-year basis. On average, sell-side analysts anticipate that Amentum will post 2.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Amentum

Several hedge funds and other institutional investors have recently bought and sold shares of AMTM. Public Sector Pension Investment Board boosted its position in shares of Amentum by 13.0% during the 2nd quarter. Public Sector Pension Investment Board now owns 514,172 shares of the company's stock worth $12,140,000 after purchasing an additional 59,043 shares in the last quarter. Evergreen Capital Management LLC bought a new position in shares of Amentum during the 2nd quarter worth about $264,000. Tower Research Capital LLC TRC boosted its position in shares of Amentum by 182.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,353 shares of the company's stock worth $103,000 after purchasing an additional 2,810 shares in the last quarter. Security National Bank of Sioux City Iowa IA boosted its position in shares of Amentum by 12.9% during the 2nd quarter. Security National Bank of Sioux City Iowa IA now owns 19,273 shares of the company's stock worth $455,000 after purchasing an additional 2,204 shares in the last quarter. Finally, Security National Bank of SO Dak boosted its position in shares of Amentum by 8.1% during the 2nd quarter. Security National Bank of SO Dak now owns 26,840 shares of the company's stock worth $634,000 after purchasing an additional 2,016 shares in the last quarter. Institutional investors and hedge funds 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.