Truist Financial Raises Amentum (NYSE:AMTM) Price Target to $30.00

Amentum (NYSE:AMTM - Free Report) had its price objective increased by Truist Financial from $24.00 to $30.00 in a research note published on Thursday,Benzinga reports. Truist Financial currently has a buy rating on the stock.

Several other research analysts have also recently commented on AMTM. Bank of America started coverage on Amentum in a research report on Tuesday, June 10th. They issued a "neutral" rating and a $24.00 target price for the company. Citizens Jmp started coverage on Amentum in a research report on Monday, May 12th. They issued an "outperform" rating and a $30.00 target price for the company. BTIG Research started coverage on Amentum in a research report on Tuesday, April 15th. They issued a "buy" rating and a $30.00 target price for the company. Royal Bank Of Canada set a $24.00 target price on Amentum and gave the stock a "sector perform" rating in a research report on Wednesday, May 21st. Finally, Morgan Stanley assumed coverage on Amentum in a report on Wednesday, April 16th. They set an "underweight" rating and a $19.00 price objective for the company. 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 stock. Based on data from MarketBeat.com, Amentum has an average rating of "Hold" and an average price target of $25.89.

Amentum Price Performance

Shares of Amentum stock traded up $0.25 during midday trading on Thursday, hitting $25.56. The company had a trading volume of 817,510 shares, compared to its average volume of 1,488,565. The business's 50 day simple moving average is $22.90 and its two-hundred day simple moving average is $21.07. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 1.01. Amentum has a 1-year low of $16.01 and a 1-year high of $34.50.

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Huntington National Bank bought a new position in shares of Amentum in the fourth quarter valued at about $30,000. Quarry LP acquired a new stake in Amentum in the first quarter worth about $30,000. Signaturefd LLC increased its position in Amentum by 108.0% in the first quarter. Signaturefd LLC now owns 1,764 shares of the company's stock worth $32,000 after purchasing an additional 916 shares during the period. OFI Invest Asset Management acquired a new position in Amentum during the 2nd quarter valued at about $48,000. Finally, National Bank of Canada FI boosted its stake in shares of Amentum by 31,328.6% in the 4th quarter. National Bank of Canada FI now owns 2,200 shares of the company's stock valued at $46,000 after purchasing an additional 2,193 shares during the last quarter. 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.