Amentum (NYSE:AMTM) Shares Gap Up After Analyst Upgrade

Key Points

• Amentum Holdings, Inc. shares gapped up after an upgrade by Cantor Fitzgerald from a neutral to an overweight rating, with a new price target of $35.00.
• Despite the upgrade, other analysts have mixed views, with varying target prices ranging from $20.00 to $30.00 and an average rating of "Moderate Buy."
• The company reported earnings of $0.56 per share for the last quarter, exceeding expectations, and its quarterly revenue increased by 66.2% compared to the previous year.

Amentum Holdings, Inc. (NYSE:AMTM - Get Free Report) gapped up before the market opened on Thursday after Cantor Fitzgerald upgraded the stock from a neutral rating to an overweight rating. The stock had previously closed at $22.59, but opened at $23.28. Cantor Fitzgerald now has a $35.00 price target on the stock, up from their previous price target of $25.00. Amentum shares last traded at $23.00, with a volume of 149,074 shares.

Other analysts have also recently issued reports about the company. Morgan Stanley upped their target price on Amentum from $19.00 to $20.00 and gave the company an "underweight" rating in a research report on Thursday, September 18th. JMP Securities reaffirmed a "market outperform" rating and issued a $30.00 target price on shares of Amentum in a report on Monday, August 18th. Bank of America increased their target price on shares of Amentum from $26.00 to $27.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 13th. The Goldman Sachs Group boosted their target price on Amentum from $21.00 to $26.00 and gave the company a "neutral" rating in a report on Wednesday, August 13th. Finally, Truist Financial raised their target price 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. Six research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $28.40.

Institutional Trading of Amentum

A number of hedge funds have recently added to or reduced their stakes in the business. Wesbanco Bank Inc. raised its position in shares of Amentum by 1.7% during the 2nd quarter. Wesbanco Bank Inc. now owns 24,466 shares of the company's stock valued at $578,000 after acquiring an additional 416 shares in the last quarter. Intact Investment Management Inc. lifted its position in Amentum by 6.1% in the second quarter. Intact Investment Management Inc. now owns 7,319 shares of the company's stock worth $173,000 after purchasing an additional 419 shares during the period. UMB Bank n.a. lifted its stake in Amentum by 11.6% during the second quarter. UMB Bank n.a. now owns 4,121 shares of the company's stock valued at $97,000 after purchasing an additional 430 shares during the last quarter. MAI Capital Management grew its holdings in shares of Amentum by 12.3% in the 2nd quarter. MAI Capital Management now owns 4,259 shares of the company's stock worth $101,000 after acquiring an additional 468 shares during the last quarter. Finally, Signaturefd LLC lifted its stake in Amentum by 27.0% during the second quarter. Signaturefd LLC now owns 2,241 shares of the company's stock valued at $53,000 after buying an additional 477 shares in the last quarter. 39.93% of the stock is owned by institutional investors and hedge funds.

Amentum Stock Performance

The firm's 50-day simple moving average is $24.53 and its two-hundred day simple moving average is $22.08. The stock has a market capitalization of $5.58 billion and a PE ratio of 58.75. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.97.

Amentum (NYSE:AMTM - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.56 earnings per share for the quarter, beating analysts' consensus estimates of $0.53 by $0.03. The business had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $3.51 billion. Amentum had a net margin of 0.41% and a return on equity of 10.90%. The business's quarterly revenue was up 66.2% compared to the same quarter last year. Amentum has set its FY 2025 guidance at 2.050-2.200 EPS. On average, equities research analysts expect that Amentum Holdings, Inc. will post 2.1 earnings per share for the current fiscal year.

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.

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