Amentum (NYSE:AMTM) Stock Price Down 3.8% – What’s Next?

Amentum Holdings, Inc. (NYSE:AMTM)’s share price traded down 3.8% during trading on Tuesday . The company traded as low as $22.10 and last traded at $22.26. 461,308 shares were traded during mid-day trading, a decline of 83% from the average session volume of 2,765,647 shares. The stock had previously closed at $23.13.

Wall Street Analyst Weigh In

A number of analysts have weighed in on AMTM shares. BTIG Research began coverage on shares of Amentum in a research report on Tuesday, April 15th. They set a “buy” rating and a $30.00 target price for the company. Citizens Jmp initiated coverage on shares of Amentum in a research note on Monday, May 12th. They set an “outperform” rating and a $30.00 target price for the company. The Goldman Sachs Group began coverage on shares of Amentum in a report on Thursday, March 20th. They issued a “neutral” rating and a $21.00 target price on the stock. Cantor Fitzgerald upgraded Amentum to a “hold” rating in a report on Tuesday, February 25th. Finally, Truist Financial lowered their price objective on Amentum from $31.00 to $24.00 and set a “buy” rating for the company in a research report on Monday, April 14th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $25.22.

Amentum Stock Down 4.0%

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 business’s fifty day simple moving average is $20.29 and its 200 day simple moving average is $20.74.

Amentum (NYSE:AMTM) last issued its earnings results on Tuesday, May 6th. The company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.48 by $0.05. The firm had revenue of $3.49 billion during the quarter, compared to analyst estimates of $3.44 billion. As a group, research analysts anticipate that Amentum Holdings, Inc. will post 2.1 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in AMTM. Huntington National Bank bought a new position in Amentum in the 4th quarter valued at about $30,000. Quarry LP purchased a new stake in shares of Amentum in the first quarter worth approximately $30,000. Signaturefd LLC boosted its position in shares of 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 buying an additional 916 shares during the last quarter. IFP Advisors Inc lifted its stake in Amentum by 119.2% during the 4th 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 bought a new position in Amentum during the 4th quarter valued at $36,000. 39.93% of the stock is currently owned by institutional investors and hedge funds.

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.