Amentum (NYSE:AMTM) Shares Gap Up - Still a Buy?

Amentum Holdings, Inc. (NYSE:AMTM - Get Free Report) shares gapped up prior to trading on Friday . The stock had previously closed at $21.83, but opened at $22.66. Amentum shares last traded at $22.86, with a volume of 558,006 shares changing hands.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Morgan Stanley assumed 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. Royal Bank of Canada set a $24.00 price objective on shares of Amentum and gave the company a "sector perform" rating in a research report on Wednesday, May 21st. Truist Financial decreased their target price on Amentum from $31.00 to $24.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. BTIG Research started coverage on Amentum in a research note on Tuesday, April 15th. They set a "buy" rating and a $30.00 price target on the stock. Finally, Cantor Fitzgerald raised Amentum to a "hold" rating in a research report on Tuesday, February 25th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Amentum currently has an average rating of "Hold" and an average target price of $25.38.

Amentum Stock Performance

The firm has a fifty day moving average price of $20.13 and a 200 day moving average price of $20.79. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 1.02.

Amentum (NYSE:AMTM - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.53 earnings per share (EPS) for the quarter, beating 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. On average, sell-side analysts expect that Amentum Holdings, Inc. will post 2.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of AMTM. American Securities LLC acquired a new stake in shares of Amentum in the 1st quarter valued at $798,869,000. Kovitz Investment Group Partners LLC increased its position in Amentum by 10,851.5% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 14,787,345 shares of the company's stock worth $310,978,000 after purchasing an additional 14,652,319 shares during the period. Invesco Ltd. raised its holdings in 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 purchasing an additional 6,055,638 shares during the last quarter. Primecap Management Co. CA lifted its position in Amentum by 56.9% during the 1st quarter. Primecap Management Co. CA now owns 10,061,589 shares of the company's stock valued at $183,121,000 after purchasing an additional 3,647,210 shares during the period. Finally, Cooper Creek Partners Management LLC boosted its stake 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 valued at $87,422,000 after purchasing an additional 3,319,364 shares during the last quarter. Institutional investors 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.

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