Amentum’s (AMTM) “Sector Perform” Rating Reaffirmed at Royal Bank of Canada

Amentum (NYSE:AMTM)‘s stock had its “sector perform” rating reiterated by analysts at Royal Bank of Canada in a report issued on Thursday,Benzinga reports. They presently have a $24.00 price objective on the stock. Royal Bank of Canada’s price target suggests a potential upside of 3.00% from the stock’s current price.

Several other equities analysts have also commented on the stock. Raymond James began coverage on shares of Amentum in a report on Thursday, November 21st. They set an “outperform” rating and a $30.00 target price on the stock. Truist Financial assumed coverage on Amentum in a research note on Monday, October 14th. They set a “buy” rating and a $31.00 price objective on the stock.

Amentum Price Performance

Shares of AMTM traded up $0.62 during midday trading on Thursday, reaching $23.30. The stock had a trading volume of 1,178,344 shares, compared to its average volume of 2,317,523. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 1.02. The business has a 50-day moving average price of $22.04. Amentum has a 12-month low of $18.38 and a 12-month high of $34.50.

Amentum (NYSE:AMTM) last issued its earnings results on Tuesday, February 4th. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.06. Equities analysts predict that Amentum will post 2.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Amentum

A number of hedge funds have recently modified their holdings of the company. State Street Corp bought a new stake in shares of Amentum in the third quarter worth about $236,306,000. Primecap Management Co. CA purchased a new stake in Amentum in the 3rd quarter worth approximately $169,999,000. Geode Capital Management LLC bought a new stake in shares of Amentum in the 3rd quarter worth approximately $101,022,000. Ruane Cunniff & Goldfarb L.P. purchased a new position in shares of Amentum during the third quarter valued at approximately $81,608,000. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of Amentum during the third quarter valued at approximately $78,399,000. Hedge funds and other 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.