Amentum (NYSE:AMTM) Earns Underweight Rating from Analysts at Morgan Stanley

Investment analysts at Morgan Stanley started coverage on shares of Amentum (NYSE:AMTM) in a research note issued to investors on Wednesday,Briefing.com Automated Import reports. The brokerage set an “underweight” rating and a $19.00 price target on the stock. Morgan Stanley’s target price would suggest a potential upside of 1.39% from the company’s previous close.

AMTM has been the subject of several other reports. BTIG Research started coverage on shares of Amentum in a report on Tuesday. They issued a “buy” rating and a $30.00 target price for the company. Truist Financial reduced their price target on shares of Amentum from $31.00 to $24.00 and set a “buy” rating on the stock in a research note on Monday. Cantor Fitzgerald upgraded Amentum to a “hold” rating in a research note on Tuesday, February 25th. Royal Bank of Canada restated a “sector perform” rating and set a $24.00 target price on shares of Amentum in a research report on Thursday, February 6th. Finally, The Goldman Sachs Group initiated coverage on Amentum in a report on Thursday, March 20th. They set a “neutral” rating and a $21.00 target price on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Amentum has a consensus rating of “Hold” and a consensus price target of $24.71.

Amentum Stock Performance

Shares of NYSE:AMTM opened at $18.74 on Wednesday. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 1.02. The firm has a 50 day moving average price of $18.95. Amentum has a 12 month low of $16.01 and a 12 month high of $34.47.

Amentum (NYSE:AMTM) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.06. As a group, equities research analysts predict that Amentum will post 2.1 earnings per share for the current fiscal year.

Insider Activity at Amentum

In other news, insider Steven J. Demetriou acquired 100,000 shares of the stock in a transaction that occurred on Wednesday, February 12th. The shares were acquired at an average cost of $20.81 per share, for a total transaction of $2,081,000.00. Following the purchase, the insider now owns 620,893 shares of the company’s stock, valued at approximately $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 this hyperlink. Also, Director Barbara Loughran acquired 4,600 shares of the stock in a transaction on Tuesday, February 18th. The stock was bought at an average price of $21.23 per share, with a total value of $97,658.00. Following the transaction, the director now directly owns 4,600 shares of the company’s stock, valued at approximately $97,658. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 18.67% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Amentum

Several institutional investors and hedge funds have recently modified their holdings of AMTM. Vanguard Group Inc. boosted its position in shares of Amentum by 18.0% in the 4th quarter. Vanguard Group Inc. now owns 16,542,447 shares of the company’s stock worth $347,888,000 after purchasing an additional 2,529,173 shares in the last quarter. Kovitz Investment Group Partners LLC grew its stake in shares of Amentum by 10,851.5% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 14,787,345 shares of the company’s stock worth $310,978,000 after purchasing an additional 14,652,319 shares in the last quarter. Invesco Ltd. grew its stake in Amentum by 77.6% during the 4th quarter. Invesco Ltd. now owns 13,856,239 shares of the company’s stock worth $291,397,000 after buying an additional 6,055,638 shares during the last quarter. Primecap Management Co. CA raised its holdings in Amentum by 21.7% during the fourth quarter. Primecap Management Co. CA now owns 6,414,379 shares of the company’s stock worth $134,894,000 after purchasing an additional 1,143,097 shares in the last quarter. Finally, Cooper Creek Partners Management LLC raised its holdings in Amentum by 396.3% during the fourth quarter. Cooper Creek Partners Management LLC now owns 4,157,034 shares of the company’s stock worth $87,422,000 after purchasing an additional 3,319,364 shares during the last quarter. 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.