Amentum (NYSE:AMTM) Shares Down 5.2% – Here’s Why

Amentum Holdings, Inc. (NYSE:AMTM) shares traded down 5.2% during mid-day trading on Monday . The company traded as low as $19.48 and last traded at $19.58. 760,775 shares traded hands during trading, a decline of 72% from the average session volume of 2,734,575 shares. The stock had previously closed at $20.66.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. The Goldman Sachs Group assumed coverage on Amentum in a research report on Thursday, March 20th. They set a “neutral” rating and a $21.00 price target on the stock. Cantor Fitzgerald raised Amentum to a “hold” rating in a research report on Tuesday, February 25th. Royal Bank of Canada set a $24.00 price objective on Amentum and gave the company a “sector perform” rating in a research report on Wednesday, May 21st. Truist Financial dropped their price objective on Amentum from $31.00 to $24.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Finally, BTIG Research started coverage on Amentum in a research report on Tuesday, April 15th. They set a “buy” rating and a $30.00 price objective on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $25.38.

Amentum Price Performance

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 fifty day simple moving average of $19.99 and a two-hundred day simple moving average of $20.79.

Amentum (NYSE:AMTM) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.05. The business had revenue of $3.49 billion during the quarter, compared to analyst estimates of $3.44 billion. On average, equities analysts anticipate that Amentum Holdings, Inc. will post 2.1 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AMTM. Huntington National Bank purchased a new position in shares of Amentum in the fourth quarter worth about $30,000. Quarry LP purchased a new position in Amentum during the first quarter valued at approximately $30,000. Signaturefd LLC raised its position in Amentum by 108.0% during the first quarter. Signaturefd LLC now owns 1,764 shares of the company’s stock valued at $32,000 after acquiring an additional 916 shares in the last quarter. IFP Advisors Inc raised its position in Amentum by 119.2% during the fourth quarter. IFP Advisors Inc now owns 1,532 shares of the company’s stock valued at $35,000 after acquiring an additional 833 shares in the last quarter. Finally, Asset Planning Inc purchased a new position in Amentum during the fourth quarter valued at approximately $36,000. 39.93% of the stock is currently owned by hedge funds and other institutional investors.

Amentum Company Profile

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.