Bank of America Initiates Coverage on Amentum (NYSE:AMTM)

Bank of America started coverage on shares of Amentum (NYSE:AMTM) in a report published on Tuesday morning, Marketbeat Ratings reports. The brokerage issued a neutral rating and a $24.00 price objective on the stock.

Other analysts have also recently issued reports about the company. Royal Bank of Canada set a $24.00 target price on Amentum and gave the company a “sector perform” rating in a research report on Wednesday, May 21st. Truist Financial lowered their price objective 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. Citizens Jmp began coverage on shares of Amentum in a report on Monday, May 12th. They issued an “outperform” rating and a $30.00 target price for the company. Cantor Fitzgerald upgraded shares of Amentum to a “hold” rating in a research note on Tuesday, February 25th. Finally, BTIG Research initiated coverage on Amentum in a research note on Tuesday, April 15th. They set a “buy” rating and a $30.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $25.22.

Amentum Stock Up 2.6%

AMTM stock opened at $22.98 on Tuesday. Amentum has a fifty-two week low of $16.01 and a fifty-two week high of $34.47. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.59 and a current ratio of 1.59. The company’s 50 day moving average price is $20.59 and its 200 day moving average price is $20.75.

Amentum (NYSE:AMTM) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.48 by $0.05. The company had revenue of $3.49 billion for the quarter, compared to analyst estimates of $3.44 billion. As a group, analysts forecast that Amentum will post 2.1 EPS for the current year.

Institutional Trading of Amentum

A number of institutional investors have recently modified their holdings of the business. Rhumbline Advisers boosted its stake in shares of Amentum by 5.1% in the first quarter. Rhumbline Advisers now owns 310,103 shares of the company’s stock valued at $5,644,000 after buying an additional 14,919 shares in the last quarter. Security National Bank of Sioux City Iowa IA boosted its stake in shares of Amentum by 11.8% in the first quarter. Security National Bank of Sioux City Iowa IA now owns 17,069 shares of the company’s stock valued at $311,000 after buying an additional 1,800 shares in the last quarter. Nexpoint Asset Management L.P. boosted its position in Amentum by 144.0% during the first quarter. Nexpoint Asset Management L.P. now owns 43,900 shares of the company’s stock worth $799,000 after purchasing an additional 25,905 shares in the last quarter. Millennium Management LLC boosted its position in Amentum by 68.1% during the first quarter. Millennium Management LLC now owns 2,011,792 shares of the company’s stock worth $36,615,000 after purchasing an additional 815,218 shares in the last quarter. Finally, Engine Capital Management LP boosted its position in Amentum by 2.2% during the first quarter. Engine Capital Management LP now owns 635,255 shares of the company’s stock worth $11,562,000 after purchasing an additional 13,855 shares in the last quarter. 39.93% of the stock is currently owned by hedge funds and other institutional investors.

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.