Amentum (NYSE:AMTM) Price Target Raised to $42.00

Amentum (NYSE:AMTM) had its price target increased by equities researchers at Truist Financial from $34.00 to $42.00 in a research report issued to clients and investors on Wednesday, MarketBeat.com reports. The firm presently has a “buy” rating on the stock. Truist Financial’s target price would indicate a potential upside of 22.38% from the company’s previous close.

AMTM has been the subject of several other reports. JPMorgan Chase & Co. increased their price objective on Amentum from $30.00 to $34.00 and gave the company a “neutral” rating in a research note on Wednesday, November 26th. Morgan Stanley upgraded shares of Amentum from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $20.00 to $35.00 in a research report on Wednesday, November 26th. Bank of America upped their price objective on shares of Amentum from $27.00 to $30.00 and gave the company a “neutral” rating in a research note on Wednesday, December 31st. Wall Street Zen lowered shares of Amentum from a “strong-buy” rating to a “buy” rating in a research note on Sunday, December 28th. Finally, Citigroup restated an “outperform” rating on shares of Amentum in a report on Monday. Seven investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $33.50.

Amentum Stock Down 0.2%

AMTM stock opened at $34.32 on Wednesday. Amentum has a 52 week low of $16.01 and a 52 week high of $34.64. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.84. The firm has a 50-day simple moving average of $28.01 and a 200-day simple moving average of $25.46. The stock has a market capitalization of $8.36 billion, a P/E ratio of 127.11, a P/E/G ratio of 1.01 and a beta of -0.01.

Amentum (NYSE:AMTM) last posted its quarterly earnings data on Monday, November 24th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.04. Amentum had a return on equity of 11.57% and a net margin of 0.46%.The company had revenue of $3.93 billion for the quarter, compared to analysts’ expectations of $3.61 billion. Amentum’s revenue was up 10.1% on a year-over-year basis. Equities analysts forecast that Amentum will post 2.1 earnings per share for the current fiscal year.

Institutional Trading of Amentum

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Atlantic Union Bankshares Corp purchased a new position in shares of Amentum during the second quarter worth $25,000. Blue Trust Inc. boosted its holdings in Amentum by 116.5% during the 3rd quarter. Blue Trust Inc. now owns 1,204 shares of the company’s stock valued at $29,000 after acquiring an additional 648 shares during the period. Mather Group LLC. acquired a new position in Amentum in the 3rd quarter valued at about $32,000. Caitong International Asset Management Co. Ltd grew its position in Amentum by 1,517.0% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 1,520 shares of the company’s stock valued at $36,000 after acquiring an additional 1,426 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its stake in Amentum by 433.5% during the second quarter. Smartleaf Asset Management LLC now owns 1,814 shares of the company’s stock worth $43,000 after purchasing an additional 1,474 shares during the period. Hedge funds and other institutional investors 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.