Royal Bank of Canada Reaffirms Sector Perform Rating for Amentum (NYSE:AMTM)

Amentum (NYSE:AMTM)‘s stock had its “sector perform” rating reaffirmed by equities researchers at Royal Bank of Canada in a note issued to investors on Thursday,Benzinga reports. They presently have a $24.00 price objective on the stock. Royal Bank of Canada’s price objective would indicate a potential upside of 8.47% from the company’s current price.

AMTM has been the topic of a number of other research reports. Raymond James started coverage on Amentum in a research note on Thursday, November 21st. They issued an “outperform” rating and a $30.00 price target on the stock. Truist Financial began coverage on Amentum in a report on Monday, October 14th. They set a “buy” rating and a $31.00 target price on the stock.

Amentum Price Performance

Shares of NYSE:AMTM opened at $22.13 on Thursday. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.57 and a quick ratio of 1.57. Amentum has a 1-year low of $18.38 and a 1-year high of $34.50. The stock’s 50-day moving average price is $22.02.

Amentum (NYSE:AMTM) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.06. On average, equities research analysts anticipate that Amentum will post 2.1 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Arrow Financial Corp bought a new position in shares of Amentum during the 3rd quarter valued at about $26,000. US Bancorp DE acquired a new stake in Amentum during the 3rd quarter worth approximately $30,000. Anchor Investment Management LLC bought a new position in Amentum in the third quarter valued at approximately $32,000. Signaturefd LLC acquired a new position in shares of Amentum in the third quarter valued at approximately $33,000. Finally, Glen Eagle Advisors LLC bought a new stake in shares of Amentum during the third quarter worth $35,000. 39.93% of the stock is 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.