Amentum (NYSE:AMTM) Shares Gap Up – Still a Buy?

Amentum Holdings, Inc. (NYSE:AMTM)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $19.80, but opened at $20.99. Amentum shares last traded at $20.95, with a volume of 330,189 shares traded.

Analyst Ratings Changes

Several research analysts have recently issued reports on AMTM shares. Cantor Fitzgerald initiated coverage on shares of Amentum in a research note on Friday, February 7th. They issued a “neutral” rating and a $25.00 target price on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $24.00 price objective on shares of Amentum in a research note on Thursday, February 6th. Finally, Raymond James assumed coverage on shares of Amentum in a report on Thursday, November 21st. They set an “outperform” rating and a $30.00 target price for the company.

Amentum Price Performance

The firm’s 50 day moving average price is $21.59. The company has a quick ratio of 1.57, a current ratio of 1.59 and a debt-to-equity ratio of 1.02.

Amentum (NYSE:AMTM) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.06. On average, sell-side analysts predict that Amentum Holdings, Inc. will post 2.1 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Steven J. Demetriou acquired 100,000 shares of the business’s stock in a transaction dated Wednesday, February 12th. The stock was bought at an average price of $20.81 per share, with a total value of $2,081,000.00. Following the acquisition, the insider now owns 620,893 shares in the company, valued at $12,920,783.33. This represents a 19.20 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 18.67% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Amentum

A number of hedge funds and other institutional investors have recently bought and sold shares of AMTM. Sumitomo Mitsui DS Asset Management Company Ltd acquired a new stake in Amentum during the third quarter worth approximately $414,000. Stratos Wealth Advisors LLC bought a new position in shares of Amentum during the third quarter worth approximately $282,000. Vest Financial LLC acquired a new stake in Amentum during the 3rd quarter worth approximately $326,000. Allspring Global Investments Holdings LLC bought a new stake in Amentum in the 3rd quarter valued at $78,399,000. Finally, Toth Financial Advisory Corp acquired a new position in Amentum in the 3rd quarter valued at $1,579,000. 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.