Amentum (NYSE:AMTM) Coverage Initiated at The Goldman Sachs Group

Stock analysts at The Goldman Sachs Group began coverage on shares of Amentum (NYSE:AMTM) in a note issued to investors on Thursday, MarketBeat Ratings reports. The firm set a “neutral” rating and a $21.00 price target on the stock. The Goldman Sachs Group’s price objective suggests a potential upside of 14.60% from the stock’s previous close.

Several other analysts have also issued reports on the stock. Raymond James assumed coverage on shares of Amentum in a research report on Thursday, November 21st. They set an “outperform” rating and a $30.00 price target on the stock. Cantor Fitzgerald upgraded shares of Amentum to a “hold” rating in a research report on Tuesday, February 25th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $24.00 price target on shares of Amentum in a research report on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Amentum presently has a consensus rating of “Hold” and an average price target of $26.20.

Amentum Stock Performance

Shares of NYSE:AMTM opened at $18.33 on Thursday. The stock’s 50 day simple moving average is $20.44. Amentum has a 12-month low of $16.95 and a 12-month high of $34.47. 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 (NYSE:AMTM) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.06. As a group, sell-side analysts forecast that Amentum will post 2.1 EPS for the current year.

Insider Activity

In other Amentum news, Director Barbara Loughran purchased 4,600 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was purchased at an average price of $21.23 per share, with a total value of $97,658.00. Following the completion of the purchase, the director now owns 4,600 shares of the company’s stock, valued at approximately $97,658. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Steven J. Demetriou purchased 100,000 shares of the company’s stock in a transaction dated Wednesday, February 12th. The shares were acquired at an average cost of $20.81 per share, with a total value of $2,081,000.00. Following the purchase, the insider now directly owns 620,893 shares of the company’s stock, valued at approximately $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.

Hedge Funds Weigh In On Amentum

A number of hedge funds have recently bought and sold shares of AMTM. Kovitz Investment Group Partners LLC raised its stake in Amentum by 10,851.5% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 14,787,345 shares of the company’s stock worth $310,978,000 after buying an additional 14,652,319 shares during the last quarter. State Street Corp bought a new position in Amentum during the third quarter worth $236,306,000. Invesco Ltd. raised its stake in Amentum by 77.6% during the fourth quarter. Invesco Ltd. now owns 13,856,239 shares of the company’s stock worth $291,397,000 after buying an additional 6,055,638 shares during the last quarter. Primecap Management Co. CA bought a new position in Amentum during the third quarter worth $169,999,000. Finally, Cooper Creek Partners Management LLC raised its stake 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 buying an additional 3,319,364 shares during the last quarter. 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.