Amentum (NYSE:AMTM) Shares Up 4.7% - Here's Why

Amentum Holdings, Inc. (NYSE:AMTM - Get Free Report) shares were up 4.7% during trading on Wednesday . The company traded as high as $23.35 and last traded at $23.34. Approximately 484,182 shares were traded 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 Analyst Weigh In

Several analysts have weighed in on AMTM shares. Royal Bank Of Canada set a $24.00 target price on Amentum and gave the company a "sector perform" rating in a report on Wednesday, May 21st. Morgan Stanley began 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. Citizens Jmp started coverage on shares of Amentum in a report on Monday, May 12th. They set an "outperform" rating and a $30.00 target price for the company. BTIG Research initiated coverage on shares of Amentum in a research report on Tuesday, April 15th. They set a "buy" rating and a $30.00 target price for the company. Finally, Bank of America initiated coverage on shares of Amentum in a research report on Tuesday, June 10th. They issued a "neutral" rating and a $24.00 price target on the stock. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Amentum presently has a consensus rating of "Hold" and a consensus price target of $25.22.

Amentum Stock Performance

The stock's fifty day simple moving average is $21.51 and its 200-day simple moving average is $20.65. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 1.01.

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

Institutional Investors Weigh In On Amentum

Several hedge funds have recently made changes to their positions in AMTM. American Securities LLC acquired a new position in Amentum in the first quarter valued at $798,869,000. Invesco Ltd. grew its holdings in Amentum by 24.1% in the 1st quarter. Invesco Ltd. now owns 17,191,110 shares of the company's stock valued at $312,878,000 after buying an additional 3,334,871 shares during the period. Vanguard Group Inc. increased its stake in shares of Amentum by 18.0% during the 4th quarter. Vanguard Group Inc. now owns 16,542,447 shares of the company's stock valued at $347,888,000 after acquiring an additional 2,529,173 shares during the last quarter. Kovitz Investment Group Partners LLC increased its stake in shares of 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 valued at $310,978,000 after acquiring an additional 14,652,319 shares during the last quarter. Finally, Primecap Management Co. CA lifted its holdings in shares of Amentum by 56.9% during the 1st quarter. Primecap Management Co. CA now owns 10,061,589 shares of the company's stock worth $183,121,000 after acquiring an additional 3,647,210 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.