Amentum (NYSE:AMTM) Sets New 12-Month Low - Here's Why

Amentum Holdings, Inc. (NYSE:AMTM - Get Free Report)'s share price hit a new 52-week low on Friday . The stock traded as low as $16.90 and last traded at $17.50, with a volume of 873622 shares changing hands. The stock had previously closed at $18.30.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AMTM. The Goldman Sachs Group assumed coverage on shares of Amentum in a research note on Thursday, March 20th. They set a "neutral" rating and a $21.00 target price for the company. Cantor Fitzgerald upgraded Amentum to a "hold" rating in a report on Tuesday, February 25th. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $24.00 price target on shares of Amentum in a research report on Thursday, February 6th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, Amentum currently has a consensus rating of "Hold" and a consensus target price of $26.20.

Amentum Trading Up 9.4 %

The business has a fifty day simple moving average of $19.22. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.59 and a current ratio of 1.59.

Amentum (NYSE:AMTM - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.51 EPS for the quarter, beating analysts' consensus estimates of $0.45 by $0.06. Analysts forecast that Amentum Holdings, Inc. will post 2.1 EPS for the current fiscal year.

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Insider Activity

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Kovitz Investment Group Partners LLC increased its holdings in Amentum by 10,851.5% in the 4th 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 in the last quarter. State Street Corp acquired a new position in shares of Amentum in the third quarter valued at approximately $236,306,000. Invesco Ltd. raised its holdings in Amentum by 77.6% in the 4th quarter. Invesco Ltd. now owns 13,856,239 shares of the company's stock valued at $291,397,000 after buying an additional 6,055,638 shares during the last quarter. Cooper Creek Partners Management LLC raised its stake in shares of Amentum by 396.3% during the fourth quarter. Cooper Creek Partners Management LLC now owns 4,157,034 shares of the company's stock valued at $87,422,000 after acquiring an additional 3,319,364 shares during the last quarter. Finally, Geode Capital Management LLC acquired a new position in shares of Amentum during the third quarter worth $101,022,000. 39.93% of the stock is currently owned by institutional investors and hedge funds.

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.