Amentum (NYSE:AMTM) Stock Price Up 4.7% - Time to Buy?

Amentum Holdings, Inc. (NYSE:AMTM - Get Free Report)'s stock price was up 4.7% during mid-day trading on Wednesday . The stock traded as high as $23.35 and last traded at $23.34. Approximately 484,182 shares traded hands during trading, a decline of 82% from the average daily volume of 2,729,104 shares. The stock had previously closed at $22.29.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on AMTM. Morgan Stanley began coverage on Amentum in a report on Wednesday, April 16th. They issued an "underweight" rating and a $19.00 price objective for the company. The Goldman Sachs Group began coverage on shares of Amentum in a research report on Thursday, March 20th. They set a "neutral" rating and a $21.00 price target on the stock. Royal Bank Of Canada set a $24.00 price objective on shares of Amentum and gave the stock a "sector perform" rating in a research report on Wednesday, May 21st. BTIG Research began coverage on shares of Amentum in a research report on Tuesday, April 15th. They set a "buy" rating and a $30.00 price objective on the stock. Finally, Citizens Jmp began coverage on shares of Amentum in a research report on Monday, May 12th. They set an "outperform" rating and a $30.00 price objective on the stock. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Amentum has a consensus rating of "Hold" and an average price target of $25.22.

Amentum Trading Down 2.4%

The company has a debt-to-equity ratio of 1.01, a current ratio of 1.56 and a quick ratio of 1.56. The company's 50-day moving average is $21.60 and its two-hundred day moving average is $20.63.

Amentum (NYSE:AMTM - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.48 by $0.05. The firm had revenue of $3.49 billion during the quarter, compared to analysts' expectations of $3.44 billion. As a group, sell-side analysts expect that Amentum Holdings, Inc. will post 2.1 earnings per share for the current year.

Institutional Investors Weigh In On Amentum

Large investors have recently modified their holdings of the stock. Huntington National Bank purchased a new stake in shares of Amentum during the 4th quarter worth approximately $30,000. IFP Advisors Inc lifted its holdings in shares of Amentum by 119.2% during the 4th quarter. IFP Advisors Inc now owns 1,532 shares of the company's stock worth $35,000 after acquiring an additional 833 shares during the last quarter. Quarry LP bought a new stake in shares of Amentum during the 1st quarter worth $30,000. Horizon Investments LLC bought a new stake in shares of Amentum during the 4th quarter worth $36,000. Finally, Signaturefd LLC lifted its holdings in shares of Amentum by 108.0% during the 1st quarter. Signaturefd LLC now owns 1,764 shares of the company's stock worth $32,000 after acquiring an additional 916 shares during the last quarter. Hedge funds and other institutional investors 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.