Amentum (NYSE:AMTM) Stock Price Down 5.2% - Time to Sell?

Amentum Holdings, Inc. (NYSE:AMTM - Get Free Report) shares were down 5.2% on Monday . The company traded as low as $19.48 and last traded at $19.58. Approximately 760,775 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 2,734,575 shares. The stock had previously closed at $20.66.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on AMTM shares. BTIG Research started coverage on shares of Amentum in a research note on Tuesday, April 15th. They issued a "buy" rating and a $30.00 target price on the stock. The Goldman Sachs Group started coverage on shares of Amentum in a research report on Thursday, March 20th. They issued a "neutral" rating and a $21.00 price target on the stock. Cantor Fitzgerald raised shares of Amentum to a "hold" rating in a research report on Tuesday, February 25th. Royal Bank of Canada set a $24.00 price target on shares of Amentum and gave the company a "sector perform" rating in a research report on Wednesday, May 21st. Finally, Truist Financial lowered their price target on shares of Amentum from $31.00 to $24.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $25.38.

Amentum Stock Performance

The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 1.02. The company's 50 day simple moving average is $20.05 and its 200-day simple moving average is $20.79.

Amentum (NYSE:AMTM - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.53 earnings per share for the quarter, topping analysts' consensus estimates of $0.48 by $0.05. The business had revenue of $3.49 billion during the quarter, compared to the consensus estimate of $3.44 billion. As a group, research analysts forecast that Amentum Holdings, Inc. will post 2.1 EPS for the current fiscal year.

Institutional Investors Weigh In On Amentum

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. American Securities LLC bought a new position in shares of Amentum in the 1st quarter worth $798,869,000. Invesco Ltd. increased its stake in Amentum by 24.1% in the first quarter. Invesco Ltd. now owns 17,191,110 shares of the company's stock valued at $312,878,000 after acquiring an additional 3,334,871 shares during the last quarter. Vanguard Group Inc. raised its position in Amentum by 18.0% during the fourth quarter. Vanguard Group Inc. now owns 16,542,447 shares of the company's stock valued at $347,888,000 after purchasing an additional 2,529,173 shares in the last quarter. Kovitz Investment Group Partners LLC raised its position in Amentum by 10,851.5% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 14,787,345 shares of the company's stock valued at $310,978,000 after purchasing an additional 14,652,319 shares in the last quarter. Finally, Primecap Management Co. CA lifted its stake in Amentum by 56.9% during the first quarter. Primecap Management Co. CA now owns 10,061,589 shares of the company's stock worth $183,121,000 after purchasing an additional 3,647,210 shares during the last quarter. 39.93% of the stock is owned by hedge funds and other institutional investors.

Amentum Company Profile

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.