Amentum (NYSE:AMTM) Price Target Raised to $26.00 at Royal Bank Of Canada

Key Points

• Royal Bank of Canada raised their price target for Amentum (NYSE:AMTM) from $24.00 to $26.00, suggesting a possible upside of 1.99% from the current price.
• Amentum recently reported earnings per share of $0.56, outperforming analysts' expectations of $0.53, with a revenue increase of 66.2% year-over-year.
• The stock currently holds a consensus rating of "Hold" from analysts, with one sell rating, four holds, and four buy ratings issued.

Amentum (NYSE:AMTM - Free Report) had its price target hoisted by Royal Bank Of Canada from $24.00 to $26.00 in a research report released on Thursday,Benzinga reports. Royal Bank Of Canada currently has a sector perform rating on the stock.

AMTM has been the topic of a number of other reports. Truist Financial lifted their price target on Amentum from $24.00 to $30.00 and gave the company a "buy" rating in a report on Thursday, July 24th. BTIG Research assumed coverage on Amentum in a report on Tuesday, April 15th. They issued a "buy" rating and a $30.00 price target on the stock. Citizens Jmp began coverage on Amentum in a report on Monday, May 12th. They issued an "outperform" rating and a $30.00 price target on the stock. Morgan Stanley began coverage on Amentum in a research note on Wednesday, April 16th. They set an "underweight" rating and a $19.00 target price on the stock. Finally, Bank of America began coverage on Amentum in a research note on Tuesday, June 10th. They set a "neutral" rating and a $24.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $26.11.

Amentum Stock Down 2.8%

Shares of NYSE:AMTM traded down $0.72 on Thursday, reaching $25.16. The company had a trading volume of 1,299,773 shares, compared to its average volume of 1,669,930. Amentum has a 52-week low of $16.01 and a 52-week high of $34.50. The firm's 50 day simple moving average is $23.71 and its 200-day simple moving average is $21.22. The firm has a market capitalization of $6.12 billion and a PE ratio of 64.51. The company has a current ratio of 1.58, a quick ratio of 1.56 and a debt-to-equity ratio of 0.97.

Amentum (NYSE:AMTM - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.56 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $3.51 billion. Amentum's quarterly revenue was up 66.2% compared to the same quarter last year. As a group, analysts expect that Amentum will post 2.1 earnings per share for the current fiscal year.

Institutional Trading of Amentum

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AMTM. American Securities LLC acquired a new stake in Amentum during the 1st quarter worth about $798,869,000. Kovitz Investment Group Partners LLC lifted its position in Amentum by 10,851.5% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 14,787,345 shares of the company's stock worth $310,978,000 after acquiring an additional 14,652,319 shares during the period. Invesco Ltd. lifted its position 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 acquiring an additional 6,055,638 shares during the period. Primecap Management Co. CA lifted its holdings in shares of Amentum by 56.9% in the 1st quarter. Primecap Management Co. CA now owns 10,061,589 shares of the company's stock valued at $183,121,000 after buying an additional 3,647,210 shares during the period. Finally, Cooper Creek Partners Management LLC lifted its holdings 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 buying an additional 3,319,364 shares during the period. Institutional investors and hedge funds own 39.93% of the company's stock.

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.