Amentum (NYSE:AMTM) Stock Price Down 4.1% - Here's Why

Key Points

• Amentum Holdings, Inc. (NYSE:AMTM) saw its stock decline by 4.1%, trading as low as $24.56 before closing at $24.13, with a 90% drop in trading volume compared to its average.
• Multiple analysts have given varied price targets for Amentum, with estimates ranging from $20.00 to $30.00, resulting in an average consensus price target of $28.40 and a "Moderate Buy" rating.
• The company's recent quarterly earnings reported $0.56 EPS, exceeding expectations, but its revenue of $2.23 billion fell short of estimates, indicating mixed performance.

Amentum Holdings, Inc. (NYSE:AMTM - Get Free Report)'s stock price dropped 4.1% on Thursday . The company traded as low as $24.56 and last traded at $24.13. Approximately 216,534 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 2,136,485 shares. The stock had previously closed at $25.16.

Analysts Set New Price Targets

AMTM has been the subject of a number of analyst reports. JMP Securities reaffirmed a "market outperform" rating and issued a $30.00 price target on shares of Amentum in a research report on Monday, August 18th. The Goldman Sachs Group boosted their price target on Amentum from $21.00 to $26.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 13th. Raymond James Financial reaffirmed an "outperform" rating and issued a $30.00 price target on shares of Amentum in a research report on Monday, August 18th. Morgan Stanley boosted their price target on Amentum from $19.00 to $20.00 and gave the stock an "underweight" rating in a research report on Thursday, September 18th. Finally, Truist Financial lifted their price objective on Amentum from $24.00 to $30.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Six analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $28.40.

Amentum Stock Down 1.9%

The company has a debt-to-equity ratio of 0.97, a current ratio of 1.58 and a quick ratio of 1.58. The business has a 50 day moving average price of $24.35 and a 200 day moving average price of $22.26. The firm has a market capitalization of $6.01 billion and a P/E ratio of 63.24.

Amentum (NYSE:AMTM - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.56 EPS for the quarter, topping analysts' consensus estimates of $0.53 by $0.03. Amentum had a return on equity of 10.90% and a net margin of 0.41%.The business had revenue of $2.23 billion for the quarter, compared to analyst estimates of $3.51 billion. The firm's 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, analysts predict that Amentum Holdings, Inc. will post 2.1 earnings per share for the current year.

Hedge Funds Weigh In On Amentum

Several institutional investors and hedge funds have recently added to or reduced their stakes in AMTM. American Securities LLC bought a new position in Amentum during the first quarter valued at about $798,869,000. Primecap Management Co. CA boosted its holdings in Amentum by 56.9% during the first 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 in the last quarter. Invesco Ltd. boosted its holdings in Amentum by 24.1% during the first quarter. Invesco Ltd. now owns 17,191,110 shares of the company's stock valued at $312,878,000 after purchasing an additional 3,334,871 shares in the last quarter. Norges Bank acquired a new stake in Amentum during the second quarter valued at approximately $51,015,000. Finally, Frontier Capital Management Co. LLC boosted its holdings in Amentum by 52.6% during the second quarter. Frontier Capital Management Co. LLC now owns 5,460,743 shares of the company's stock valued at $128,928,000 after purchasing an additional 1,882,011 shares in the last quarter. 39.93% of the stock is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.