Amentum (NYSE:AMTM) Coverage Initiated by Analysts at Morgan Stanley

Equities researchers at Morgan Stanley assumed coverage on shares of Amentum (NYSE:AMTM) in a report released on Wednesday,Briefing.com Automated Import reports. The firm set an “underweight” rating and a $19.00 price target on the stock. Morgan Stanley’s price target indicates a potential upside of 1.39% from the stock’s previous close.

AMTM has been the topic of several other reports. Cantor Fitzgerald upgraded shares of Amentum to a “hold” rating in a research report on Tuesday, February 25th. The Goldman Sachs Group initiated coverage on shares of Amentum in a research report on Thursday, March 20th. They set a “neutral” rating and a $21.00 price target for the company. Truist Financial lowered their target price on shares of Amentum from $31.00 to $24.00 and set a “buy” rating on the stock in a report on Monday. BTIG Research began coverage on shares of Amentum in a research note on Tuesday. They set a “buy” rating and a $30.00 price target for the company. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $24.00 price target on shares of Amentum in a report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $24.71.

Amentum Stock Performance

Shares of AMTM stock opened at $18.74 on Wednesday. The business’s fifty day simple moving average is $18.95. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 1.02. Amentum has a 52 week low of $16.01 and a 52 week high of $34.47.

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

Insider Activity

In other Amentum news, Director Barbara Loughran acquired 4,600 shares of the stock in a transaction dated Tuesday, February 18th. The stock was purchased at an average cost of $21.23 per share, with a total value of $97,658.00. Following the transaction, the director now owns 4,600 shares in the company, valued at approximately $97,658. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Steven J. Demetriou purchased 100,000 shares of the stock in a transaction that occurred on Wednesday, February 12th. The stock was bought at an average cost of $20.81 per share, with a total value of $2,081,000.00. Following the completion of the transaction, the insider now directly owns 620,893 shares in the company, valued at $12,920,783.33. The trade was a 19.20 % increase in their position. The disclosure for this purchase can be found here. Insiders own 18.67% of the company’s stock.

Institutional Trading of Amentum

A number of hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC raised its holdings in Amentum by 78.8% in the 1st quarter. GAMMA Investing LLC now owns 3,137 shares of the company’s stock worth $57,000 after acquiring an additional 1,383 shares during the last quarter. Rhumbline Advisers raised its stake in shares of Amentum by 5.1% during the first quarter. Rhumbline Advisers now owns 310,103 shares of the company’s stock valued at $5,644,000 after acquiring an additional 14,919 shares in the last quarter. Cacti Asset Management LLC raised its holdings in Amentum by 1.2% in the first quarter. Cacti Asset Management LLC now owns 834,442 shares of the company’s stock worth $15,078,000 after purchasing an additional 9,978 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Amentum by 149.5% in the 4th quarter. Wellington Management Group LLP now owns 2,333,221 shares of the company’s stock valued at $49,068,000 after purchasing an additional 1,398,143 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Amentum in the fourth quarter worth about $676,000. Institutional investors own 39.93% of the company’s stock.

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.