Truist Financial Lowers Amentum (NYSE:AMTM) Price Target to $24.00

Amentum (NYSE:AMTM) had its target price lowered by investment analysts at Truist Financial from $31.00 to $24.00 in a report released on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s price objective suggests a potential upside of 32.43% from the company’s current price.

Several other brokerages have also issued reports on AMTM. The Goldman Sachs Group initiated coverage on Amentum in a research note on Thursday, March 20th. They issued a “neutral” rating and a $21.00 price target on the stock. Royal Bank of Canada restated a “sector perform” rating and issued a $24.00 price target on shares of Amentum in a report on Thursday, February 6th. Finally, Cantor Fitzgerald raised shares of Amentum to a “hold” rating in a research note on Tuesday, February 25th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $24.80.

Amentum Price Performance

NYSE:AMTM opened at $18.12 on Monday. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.59 and a quick ratio of 1.59. Amentum has a fifty-two week low of $16.01 and a fifty-two week high of $34.47. The firm’s 50 day moving average price is $19.11.

Amentum (NYSE:AMTM) last released its 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. As a group, equities research analysts anticipate that Amentum will post 2.1 earnings per share for the current year.

Insider Transactions at Amentum

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

Hedge Funds Weigh In On Amentum

Several institutional investors have recently bought and sold shares of AMTM. Kovitz Investment Group Partners LLC raised its stake in shares of Amentum by 10,851.5% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 14,787,345 shares of the company’s stock valued at $310,978,000 after buying an additional 14,652,319 shares during the period. Invesco Ltd. lifted its holdings in Amentum by 77.6% during the fourth quarter. Invesco Ltd. now owns 13,856,239 shares of the company’s stock valued at $291,397,000 after purchasing an additional 6,055,638 shares during the last quarter. Cooper Creek Partners Management LLC boosted its position 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 period. Geode Capital Management LLC purchased a new position in shares of Amentum in the third quarter worth about $101,022,000. Finally, Vanguard Group Inc. raised its position in shares of Amentum by 18.0% in the fourth quarter. Vanguard Group Inc. now owns 16,542,447 shares of the company’s stock valued at $347,888,000 after purchasing an additional 2,529,173 shares during the period. 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.