Amentum (NYSE:AMTM) Stock Price Down 3.8% – What’s Next?

Shares of Amentum Holdings, Inc. (NYSE:AMTM) traded down 3.8% during trading on Tuesday . The company traded as low as $22.10 and last traded at $22.26. 461,308 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 2,765,647 shares. The stock had previously closed at $23.13.

Wall Street Analyst Weigh In

Several research firms recently weighed in on AMTM. BTIG Research began coverage on shares of Amentum in a research report on Tuesday, April 15th. They set a “buy” rating and a $30.00 price objective for the company. Royal Bank of Canada set a $24.00 price target on shares of Amentum and gave the stock a “sector perform” rating in a report on Wednesday, May 21st. Morgan Stanley started 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. The Goldman Sachs Group assumed coverage on shares of Amentum in a research report on Thursday, March 20th. They set a “neutral” rating and a $21.00 price objective for the company. Finally, Citizens Jmp started coverage on Amentum in a report on Monday, May 12th. They issued an “outperform” rating and a $30.00 target price on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $25.22.

Amentum Trading Down 4.0%

The business’s 50-day simple moving average is $20.29 and its two-hundred day simple moving average is $20.74. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.59 and a quick ratio of 1.59.

Amentum (NYSE:AMTM) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.05. The firm had revenue of $3.49 billion for the quarter, compared to the consensus estimate of $3.44 billion. Equities analysts anticipate that Amentum Holdings, Inc. will post 2.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in AMTM. American Securities LLC bought a new stake in Amentum during the 1st quarter worth approximately $798,869,000. Kovitz Investment Group Partners LLC lifted its holdings in shares of Amentum by 10,851.5% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 14,787,345 shares of the company’s stock worth $310,978,000 after purchasing an additional 14,652,319 shares during the period. Invesco Ltd. lifted its holdings in shares of Amentum by 77.6% during the fourth quarter. Invesco Ltd. now owns 13,856,239 shares of the company’s stock worth $291,397,000 after purchasing an additional 6,055,638 shares during the period. Primecap Management Co. CA grew its stake in shares of Amentum by 56.9% in the first quarter. Primecap Management Co. CA now owns 10,061,589 shares of the company’s stock worth $183,121,000 after purchasing an additional 3,647,210 shares during the last quarter. Finally, Cooper Creek Partners Management LLC grew its stake in shares of Amentum by 396.3% in the fourth quarter. Cooper Creek Partners Management LLC now owns 4,157,034 shares of the company’s stock worth $87,422,000 after purchasing an additional 3,319,364 shares during 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.