BTIG Research Initiates Coverage on Amentum (NYSE:AMTM)

BTIG Research began coverage on shares of Amentum (NYSE:AMTM - Free Report) in a research note published on Tuesday morning, Marketbeat Ratings reports. The brokerage issued a buy rating and a $30.00 target price on the stock.

Other equities analysts have also issued research reports about the company. The Goldman Sachs Group started coverage on Amentum in a research note on Thursday, March 20th. They issued a "neutral" rating and a $21.00 target price for the company. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $24.00 price target on shares of Amentum in a research note on Thursday, February 6th. Truist Financial decreased their price target on shares of Amentum from $31.00 to $24.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Finally, Cantor Fitzgerald upgraded 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 issued a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $24.71.

Amentum Price Performance

Shares of NYSE:AMTM traded up $0.05 during mid-day trading on Tuesday, reaching $18.75. The stock had a trading volume of 1,572,004 shares, compared to its average volume of 2,874,487. The business has a 50 day moving average of $18.77. Amentum has a 1 year low of $16.01 and a 1 year high of $34.47. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 1.02.

Amentum (NYSE:AMTM - Get Free Report) last issued its earnings results on Tuesday, February 4th. The company reported $0.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.45 by $0.06. On average, equities research analysts forecast that Amentum will post 2.1 earnings per share for the current fiscal year.

Insider Buying and Selling at Amentum

In other news, insider Steven J. Demetriou purchased 100,000 shares of the stock in a transaction dated Wednesday, February 12th. The stock was acquired at an average cost of $20.81 per share, for a total transaction of $2,081,000.00. Following the completion of the transaction, the insider now directly owns 620,893 shares in the company, valued at approximately $12,920,783.33. This represents a 19.20 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Barbara Loughran acquired 4,600 shares of the company's stock in a transaction dated Tuesday, February 18th. The stock was purchased at an average cost of $21.23 per share, with a total value of $97,658.00. Following the completion of the purchase, the director now directly owns 4,600 shares of the company's stock, valued at approximately $97,658. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Company insiders own 18.67% of the company's stock.

Hedge Funds Weigh In On Amentum

Several institutional investors have recently modified their holdings of the business. CIBC Private Wealth Group LLC lifted its holdings in Amentum by 9.7% during the 4th quarter. CIBC Private Wealth Group LLC now owns 7,639 shares of the company's stock worth $164,000 after buying an additional 675 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in Amentum by 22.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 3,978 shares of the company's stock worth $84,000 after purchasing an additional 730 shares during the last quarter. IFP Advisors Inc increased its stake in Amentum by 119.2% in the fourth quarter. IFP Advisors Inc now owns 1,532 shares of the company's stock valued at $35,000 after purchasing an additional 833 shares during the period. State of Wyoming raised its holdings in shares of Amentum by 43.3% in the fourth quarter. State of Wyoming now owns 2,756 shares of the company's stock valued at $58,000 after buying an additional 833 shares during the last quarter. Finally, Anchor Investment Management LLC purchased a new position in shares of Amentum during the third quarter worth about $32,000. 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.