Amentum (NYSE:AMTM) Shares Down 5.1% – Here’s Why

Amentum Holdings, Inc. (NYSE:AMTM)’s share price was down 5.1% on Thursday . The company traded as low as $22.00 and last traded at $21.94. Approximately 833,829 shares changed hands during trading, a decline of 64% from the average daily volume of 2,305,352 shares. The stock had previously closed at $23.12.

Analysts Set New Price Targets

Several research firms have recently issued reports on AMTM. Royal Bank of Canada began coverage on shares of Amentum in a report on Friday, January 10th. They set a “sector perform” rating and a $24.00 price objective on the stock. Raymond James started coverage on shares of Amentum in a report on Thursday, November 21st. They set an “outperform” rating and a $30.00 price objective on the stock. Finally, Truist Financial started coverage on shares of Amentum in a research note on Monday, October 14th. They issued a “buy” rating and a $31.00 target price on the stock.

Amentum Stock Performance

The firm has a 50-day moving average of $22.53. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.57 and a current ratio of 1.57.

Amentum (NYSE:AMTM) last announced its quarterly earnings data on Monday, December 16th. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.10. Research analysts anticipate that Amentum Holdings, Inc. will post 2.1 EPS for the current fiscal year.

Institutional Investors Weigh In On Amentum

Several large investors have recently bought and sold shares of AMTM. State Street Corp acquired a new stake in Amentum in the third quarter valued at $236,306,000. Primecap Management Co. CA acquired a new stake in Amentum in the third quarter valued at $169,999,000. Geode Capital Management LLC acquired a new stake in Amentum in the third quarter valued at $101,022,000. Ruane Cunniff & Goldfarb L.P. acquired a new stake in Amentum in the third quarter valued at $81,608,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in Amentum in the third quarter valued at $78,399,000. Institutional investors 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.