Amentum (NYSE:AMTM) Trading 8.3% Higher – Should You Buy?

Shares of Amentum Holdings, Inc. (NYSE:AMTM) shot up 8.3% during mid-day trading on Wednesday . The stock traded as high as $19.40 and last traded at $19.35. Approximately 1,546,609 shares changed hands during trading, a decline of 37% from the average daily volume of 2,457,832 shares. The stock had previously closed at $17.87.

Wall Street Analyst Weigh In

A number of equities analysts have commented 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 report on Thursday, February 6th. Cantor Fitzgerald raised shares of Amentum to a “hold” rating in a report on Tuesday, February 25th. Finally, The Goldman Sachs Group began coverage on shares of Amentum in a research note on Thursday, March 20th. They set a “neutral” rating and a $21.00 price objective on the stock. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $26.20.

Amentum Price Performance

The firm has a fifty day moving average price of $19.77. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.59 and a current ratio of 1.59.

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

Insiders Place Their Bets

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

Institutional Trading of Amentum

A number of hedge funds and other institutional investors have recently modified their holdings of AMTM. Vanguard Group Inc. grew its holdings in Amentum by 18.0% during the fourth quarter. Vanguard Group Inc. now owns 16,542,447 shares of the company’s stock worth $347,888,000 after acquiring an additional 2,529,173 shares during the period. Kovitz Investment Group Partners LLC boosted its position in shares of Amentum by 10,851.5% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 14,787,345 shares of the company’s stock valued at $310,978,000 after purchasing an additional 14,652,319 shares in the last quarter. Invesco Ltd. grew its stake in shares of Amentum by 77.6% in the 4th quarter. Invesco Ltd. now owns 13,856,239 shares of the company’s stock worth $291,397,000 after purchasing an additional 6,055,638 shares during the last quarter. State Street Corp bought a new stake in shares of Amentum in the 3rd quarter worth approximately $236,306,000. Finally, Primecap Management Co. CA lifted its stake in Amentum by 21.7% during the fourth quarter. Primecap Management Co. CA now owns 6,414,379 shares of the company’s stock valued at $134,894,000 after purchasing an additional 1,143,097 shares during the last quarter. 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.