Amentum (NYSE:AMTM) Reaches New 52-Week High – Time to Buy?

Amentum Holdings, Inc. (NYSE:AMTM)’s share price hit a new 52-week high on Friday . The stock traded as high as $38.11 and last traded at $37.5810, with a volume of 2824691 shares. The stock had previously closed at $36.40.

Analyst Ratings Changes

A number of research firms have commented on AMTM. BTIG Research boosted their price objective on Amentum from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, December 3rd. JMP Securities set a $35.00 target price on Amentum in a research report on Wednesday, November 26th. Citigroup reissued an “outperform” rating on shares of Amentum in a research note on Monday, January 12th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Amentum in a report on Monday, December 29th. Finally, Cantor Fitzgerald increased their price target on Amentum from $35.00 to $40.00 and gave the company an “overweight” rating in a research note on Tuesday, December 2nd. Seven analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $34.50.

Amentum Stock Up 3.2%

The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.84. The firm’s fifty day moving average price is $31.85 and its 200-day moving average price is $26.76. The company has a market cap of $9.16 billion, a price-to-earnings ratio of 139.19, a price-to-earnings-growth ratio of 1.07 and a beta of 0.01.

Amentum (NYSE:AMTM) last posted its earnings results on Monday, November 24th. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. Amentum had a return on equity of 11.57% and a net margin of 0.46%.The firm had revenue of $3.93 billion during the quarter, compared to analysts’ expectations of $3.61 billion. The firm’s revenue was up 10.1% on a year-over-year basis. Sell-side analysts predict that Amentum Holdings, Inc. will post 2.1 earnings per share for the current year.

Institutional Trading of Amentum

Several hedge funds and other institutional investors have recently modified their holdings of AMTM. Intact Investment Management Inc. raised its position in shares of Amentum by 6.1% in the second quarter. Intact Investment Management Inc. now owns 7,319 shares of the company’s stock valued at $173,000 after purchasing an additional 419 shares during the period. Sound Income Strategies LLC boosted its holdings in shares of Amentum by 45.3% during the 4th quarter. Sound Income Strategies LLC now owns 1,363 shares of the company’s stock worth $40,000 after buying an additional 425 shares during the period. MAI Capital Management grew its stake in Amentum by 12.3% in the 2nd quarter. MAI Capital Management now owns 4,259 shares of the company’s stock valued at $101,000 after buying an additional 468 shares during the last quarter. BCS Private Wealth Management Inc. raised its holdings in Amentum by 5.0% in the 4th quarter. BCS Private Wealth Management Inc. now owns 11,999 shares of the company’s stock valued at $348,000 after acquiring an additional 575 shares during the period. Finally, GAMMA Investing LLC lifted its position in Amentum by 13.0% during the third quarter. GAMMA Investing LLC now owns 5,021 shares of the company’s stock worth $120,000 after acquiring an additional 578 shares during the last quarter. Institutional investors and hedge funds own 39.93% of the company’s stock.

Amentum Company Profile

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.