Amentum (NYSE:AMTM) Shares Gap Up - Still a Buy?

Amentum Holdings, Inc. (NYSE:AMTM - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $19.80, but opened at $20.99. Amentum shares last traded at $20.95, with a volume of 330,189 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Raymond James assumed coverage on shares of Amentum in a report on Thursday, November 21st. They set an "outperform" rating and a $30.00 price objective for the company. Cantor Fitzgerald assumed coverage on shares of Amentum in a report on Friday, February 7th. They set a "neutral" rating and a $25.00 price objective for the company. Finally, Royal Bank of Canada restated a "sector perform" rating and set a $24.00 price objective on shares of Amentum in a report on Thursday, February 6th.

Amentum Stock Down 3.3 %

The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.59 and a current ratio of 1.59. The stock's 50 day moving average is $21.38.

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

Insider Transactions at Amentum

In other news, insider Steven J. Demetriou purchased 100,000 shares of the company's stock in a transaction on Wednesday, February 12th. The shares were purchased at an average cost 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 of the company's stock, valued at $12,920,783.33. The trade was a 19.20 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Barbara Loughran purchased 4,600 shares of the company's stock in a transaction on Tuesday, February 18th. The shares were purchased at an average cost of $21.23 per share, for a total transaction of $97,658.00. Following the completion of the transaction, 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. 18.67% of the stock is currently owned by insiders.

Institutional Trading of Amentum

Several institutional investors and hedge funds have recently added to or reduced their stakes in AMTM. Signaturefd LLC acquired a new position in shares of Amentum in the third quarter valued at $33,000. Private Advisor Group LLC acquired a new position in shares of Amentum in the third quarter valued at $433,000. Hennion & Walsh Asset Management Inc. acquired a new position in shares of Amentum in the third quarter valued at $250,000. CENTRAL TRUST Co acquired a new position in shares of Amentum in the third quarter valued at about $399,000. Finally, IFM Investors Pty Ltd acquired a new position in shares of Amentum in the third quarter valued at about $729,000. 39.93% of the stock is owned by institutional investors.

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.