Amentum (NYSE:AMTM) Trading Up 8.4% - Time to Buy?

Amentum Holdings, Inc. (NYSE:AMTM - Get Free Report) shares traded up 8.4% on Tuesday . The stock traded as high as $20.94 and last traded at $20.94. 1,386,521 shares traded hands during mid-day trading, a decline of 50% from the average session volume of 2,748,798 shares. The stock had previously closed at $19.32.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Royal Bank of Canada set a $24.00 price target on shares of Amentum and gave the stock a "sector perform" rating in a research report on Wednesday, May 21st. BTIG Research assumed coverage on shares of Amentum in a research report on Tuesday, April 15th. They issued a "buy" rating and a $30.00 price target on the stock. Morgan Stanley assumed coverage on shares of Amentum in a research report on Wednesday, April 16th. They issued an "underweight" rating and a $19.00 price target on the stock. Truist Financial reduced their price target on shares of Amentum from $31.00 to $24.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Finally, Cantor Fitzgerald upgraded shares of Amentum to a "hold" rating in a research report on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $25.38.

Amentum Trading Up 3.0%

The stock's fifty day moving average price is $20.22 and its 200 day moving average price is $20.78. 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 posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.53 EPS for the quarter, topping analysts' consensus estimates of $0.48 by $0.05. The company had revenue of $3.49 billion during the quarter, compared to the consensus estimate of $3.44 billion. As a group, equities research analysts anticipate that Amentum Holdings, Inc. will post 2.1 earnings per share for the current year.

Institutional Investors Weigh In On Amentum

Hedge funds and other institutional investors have recently made changes to their positions in the company. CIBC Private Wealth Group LLC lifted its position in shares of Amentum by 9.7% during the 4th quarter. CIBC Private Wealth Group LLC now owns 7,639 shares of the company's stock valued at $164,000 after buying an additional 675 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Amentum by 22.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 3,978 shares of the company's stock valued at $84,000 after buying an additional 730 shares in the last quarter. IFP Advisors Inc lifted its position in shares of Amentum by 119.2% during the 4th quarter. IFP Advisors Inc now owns 1,532 shares of the company's stock valued at $35,000 after buying an additional 833 shares in the last quarter. State of Wyoming lifted its position in shares of Amentum by 43.3% during the 4th quarter. State of Wyoming now owns 2,756 shares of the company's stock valued at $58,000 after buying an additional 833 shares in the last quarter. Finally, Signaturefd LLC lifted its position in shares of Amentum by 108.0% during the 1st quarter. Signaturefd LLC now owns 1,764 shares of the company's stock valued at $32,000 after buying an additional 916 shares in the last quarter. Institutional investors and hedge funds 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.