Amentum (NYSE:AMTM) Now Covered by Analysts at Royal Bank of Canada

Equities researchers at Royal Bank of Canada initiated coverage on shares of Amentum (NYSE:AMTM) in a report issued on Friday,Briefing.com Automated Import reports. The brokerage set a “sector perform” rating and a $24.00 price target on the stock. Royal Bank of Canada’s price target suggests a potential upside of 11.47% from the stock’s current price.

AMTM has been the subject of several other reports. Truist Financial initiated coverage on Amentum in a report on Monday, October 14th. They issued a “buy” rating and a $31.00 target price for the company. Raymond James initiated coverage on Amentum in a research report on Thursday, November 21st. They issued an “outperform” rating and a $30.00 price objective for the company.

Amentum Stock Performance

AMTM opened at $21.53 on Friday. The business has a 50 day simple moving average of $24.30. Amentum has a 1-year low of $18.38 and a 1-year high of $34.50.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Dover Advisors LLC acquired a new stake in shares of Amentum during the third quarter worth about $219,000. McKinley Carter Wealth Services Inc. purchased a new stake in Amentum during the 3rd quarter worth about $1,764,000. Heritage Family Offices LLP acquired a new stake in Amentum in the 3rd quarter valued at about $308,000. ZWJ Investment Counsel Inc. acquired a new position in Amentum during the 3rd quarter worth approximately $2,256,000. Finally, Compass Wealth Management LLC purchased a new stake in Amentum during the 3rd quarter worth about $804,000. 39.93% of the stock is currently owned by hedge funds and other institutional investors.

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.