Amentum (NYSE:AMTM) Given New $27.00 Price Target at Bank of America

Amentum (NYSE:AMTM) had its target price upped by Bank of America from $26.00 to $27.00 in a research note released on Wednesday morning,Benzinga reports. Bank of America currently has a neutral rating on the stock.

Several other brokerages also recently commented on AMTM. BTIG Research started coverage on Amentum in a research note on Tuesday, April 15th. They set a “buy” rating and a $30.00 target price for the company. The Goldman Sachs Group lifted their target price on Amentum from $21.00 to $26.00 and gave the stock a “neutral” rating in a research note on Wednesday. Morgan Stanley started coverage on Amentum in a research note on Wednesday, April 16th. They set an “underweight” rating and a $19.00 target price for the company. Royal Bank Of Canada lifted their price target on Amentum from $24.00 to $26.00 and gave the stock a “sector perform” rating in a report on Thursday, August 7th. Finally, Citizens Jmp started coverage on Amentum in a report on Monday, May 12th. They set an “outperform” rating and a $30.00 price target for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $27.00.

Amentum Stock Performance

Shares of NYSE AMTM opened at $26.48 on Wednesday. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.97. Amentum has a 12 month low of $16.01 and a 12 month high of $34.50. The stock has a 50 day moving average of $24.02 and a 200-day moving average of $21.31. The company has a market capitalization of $6.44 billion and a P/E ratio of 67.90.

Amentum (NYSE:AMTM) last issued its earnings results on Tuesday, August 5th. The company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.53 by $0.03. Amentum had a return on equity of 10.90% and a net margin of 0.41%. The company had revenue of $2.23 billion during 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, equities research analysts predict that Amentum will post 2.1 EPS for the current year.

Hedge Funds Weigh In On Amentum

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. raised its holdings in Amentum by 18.3% in the 1st quarter. Principal Financial Group Inc. now owns 712,172 shares of the company’s stock valued at $12,962,000 after acquiring an additional 110,123 shares in the last quarter. Amalgamated Bank raised its holdings in Amentum by 12.3% in the 1st quarter. Amalgamated Bank now owns 43,366 shares of the company’s stock valued at $789,000 after acquiring an additional 4,756 shares in the last quarter. KBC Group NV raised its holdings in Amentum by 14.3% in the 1st quarter. KBC Group NV now owns 7,339 shares of the company’s stock valued at $134,000 after acquiring an additional 918 shares in the last quarter. Janney Montgomery Scott LLC acquired a new position in Amentum in the 1st quarter valued at $615,000. Finally, New York State Teachers Retirement System raised its holdings in Amentum by 11.6% in the 1st quarter. New York State Teachers Retirement System now owns 138,486 shares of the company’s stock valued at $2,520,000 after acquiring an additional 14,364 shares in the last quarter. 39.93% of the stock is owned by institutional investors and hedge funds.

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.