Amentum (NYSE:AMTM) Hits New 52-Week High – Still a Buy?

Amentum Holdings, Inc. (NYSE:AMTM)’s share price reached a new 52-week high on Tuesday . The company traded as high as $35.00 and last traded at $34.6130, with a volume of 185523 shares traded. The stock had previously closed at $34.80.

Analyst Ratings Changes

A number of equities analysts have recently commented on AMTM shares. JMP Securities set a $35.00 price objective on Amentum in a research note on Wednesday, November 26th. Citigroup reiterated an “outperform” rating on shares of Amentum in a report on Monday, January 12th. Truist Financial raised their price objective on shares of Amentum from $34.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, January 14th. JPMorgan Chase & Co. upped their target price on shares of Amentum from $30.00 to $34.00 and gave the company a “neutral” rating in a research note on Wednesday, November 26th. Finally, Citizens Jmp raised their price target on shares of Amentum from $35.00 to $40.00 and gave the stock a “market outperform” rating in a research report on Monday, January 12th. Seven equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $34.50.

Amentum Trading Down 0.9%

The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.32 and a current ratio of 1.32. The business’s 50 day moving average price is $29.01 and its 200-day moving average price is $25.76. The company has a market cap of $8.41 billion, a price-to-earnings ratio of 127.73, a PEG ratio of 1.02 and a beta of -0.01.

Amentum (NYSE:AMTM) last posted its quarterly earnings results on Monday, November 24th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.04. The firm had revenue of $3.93 billion during the quarter, compared to analyst estimates of $3.61 billion. Amentum had a net margin of 0.46% and a return on equity of 11.57%. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. On average, research analysts forecast that Amentum Holdings, Inc. will post 2.1 EPS for the current year.

Institutional Trading of Amentum

Several institutional investors have recently bought and sold shares of AMTM. Invesco Ltd. grew its position in Amentum by 13.0% in the third quarter. Invesco Ltd. now owns 22,116,835 shares of the company’s stock valued at $529,698,000 after acquiring an additional 2,539,594 shares during the period. Norges Bank acquired a new stake in shares of Amentum in the 2nd quarter valued at $51,015,000. Primecap Management Co. CA grew its holdings in shares of Amentum by 19.6% in the 2nd quarter. Primecap Management Co. CA now owns 12,030,656 shares of the company’s stock worth $284,044,000 after purchasing an additional 1,969,067 shares during the last quarter. Frontier Capital Management Co. LLC increased its position in shares of Amentum by 52.6% during the 2nd quarter. Frontier Capital Management Co. LLC now owns 5,460,743 shares of the company’s stock worth $128,928,000 after purchasing an additional 1,882,011 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Amentum during the 2nd quarter worth about $32,576,000. Institutional investors and hedge funds own 39.93% of the company’s stock.

About Amentum

Amentum is a government services provider specializing in mission-critical solutions for defense, federal civilian and commercial customers around the globe. The company delivers integrated services that span the full lifecycle of complex programs and facilities, including engineering, program and project management, logistics, operations, maintenance and environmental remediation.

Core offerings include infrastructure support, energy and facilities management, environmental solutions and nuclear services.