Amentum (NYSE:AMTM) Stock Price Down 5.1% – Time to Sell?

Amentum Holdings, Inc. (NYSE:AMTM) traded down 5.1% during trading on Thursday . The stock traded as low as $22.00 and last traded at $21.94. 833,829 shares traded hands during mid-day trading, a decline of 64% from the average session volume of 2,305,352 shares. The stock had previously closed at $23.12.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Raymond James assumed coverage on Amentum in a research note on Thursday, November 21st. They issued an “outperform” rating and a $30.00 target price for the company. Truist Financial assumed coverage on Amentum in a research note on Monday, October 14th. They issued a “buy” rating and a $31.00 target price for the company. Finally, Royal Bank of Canada assumed coverage on Amentum in a research note on Friday, January 10th. They issued a “sector perform” rating and a $24.00 target price for the company.

Amentum Stock Down 6.2 %

The firm’s fifty day moving average price is $22.70. 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 (NYSE:AMTM) last released its quarterly earnings results on Monday, December 16th. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.10. As a group, equities research analysts forecast that Amentum Holdings, Inc. will post 2.1 earnings per share for the current year.

Hedge Funds Weigh In On Amentum

A number of large investors have recently modified their holdings of the company. State Street Corp purchased a new position in shares of Amentum during the 3rd quarter valued at about $236,306,000. Primecap Management Co. CA purchased a new position in shares of Amentum during the 3rd quarter valued at about $169,999,000. Geode Capital Management LLC bought a new position in Amentum during the 3rd quarter worth approximately $101,022,000. Ruane Cunniff & Goldfarb L.P. bought a new position in Amentum during the 3rd quarter worth approximately $81,608,000. Finally, Allspring Global Investments Holdings LLC bought a new position in Amentum during the 3rd quarter worth approximately $78,399,000. 39.93% of the stock is owned by hedge funds and other institutional investors.

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.