Wall Street Zen Upgrades Amentum (NYSE:AMTM) to “Buy”

Amentum (NYSE:AMTM) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Sunday, Wall Street Zen reports.

AMTM has been the topic of several other reports. Bank of America cut their price objective on shares of Amentum from $35.00 to $30.00 and set a “neutral” rating on the stock in a report on Monday, July 20th. JPMorgan Chase & Co. lowered their target price on Amentum from $31.00 to $26.00 and set a “neutral” rating for the company in a report on Monday, August 17th. Morgan Stanley set a $24.00 target price on Amentum in a report on Tuesday, August 11th. Zacks Research raised Amentum from a “strong sell” rating to a “hold” rating in a research report on Friday, October 30th. Finally, Royal Bank Of Canada cut their price target on Amentum from $26.00 to $25.00 and set a “sector perform” rating on the stock in a report on Wednesday, October 28th. Five research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $28.91.

Amentum Trading Up 5.0%

NYSE AMTM opened at $22.32 on Friday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.52 and a current ratio of 1.52. The company has a market capitalization of $5.46 billion, a price-to-earnings ratio of 9.54, a price-to-earnings-growth ratio of 0.60 and a beta of 0.15. The company’s 50-day simple moving average is $19.99 and its two-hundred day simple moving average is $24.19. Amentum has a one year low of $17.72 and a one year high of $38.11.

Amentum (NYSE:AMTM) last posted its quarterly earnings results on Monday, August 10th. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.61 by $0.06. Amentum had a net margin of 1.44% and a return on equity of 12.19%. The business had revenue of $3.49 billion during the quarter, compared to analyst estimates of $3.57 billion. During the same quarter in the previous year, the business posted $0.56 EPS. The company’s quarterly revenue was down 2.0% compared to the same quarter last year. Equities analysts forecast that Amentum will post 2.38 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Carlson Capital L.P. acquired a new stake in Amentum in the third quarter valued at approximately $852,000. Bessemer Group Inc. increased its position in shares of Amentum by 2.7% during the third quarter. Bessemer Group Inc. now owns 129,460 shares of the company’s stock worth $2,346,000 after purchasing an additional 3,353 shares in the last quarter. Danske Bank A S increased its position in shares of Amentum by 14.1% during the third quarter. Danske Bank A S now owns 9,738 shares of the company’s stock worth $176,000 after purchasing an additional 1,202 shares in the last quarter. Fifth Third Bancorp lifted its holdings in shares of Amentum by 43.6% during the 3rd quarter. Fifth Third Bancorp now owns 404,618 shares of the company’s stock valued at $7,332,000 after purchasing an additional 122,803 shares during the last quarter. Finally, Maryland State Retirement & Pension System lifted its holdings in shares of Amentum by 39.3% during the 3rd quarter. Maryland State Retirement & Pension System now owns 41,578 shares of the company’s stock valued at $753,000 after purchasing an additional 11,740 shares during the last quarter. Hedge funds and other institutional investors own 39.93% of the company’s stock.

About Amentum

Amentum is a provider of engineering, technical and mission-support services for government and commercial customers. Its work includes managing and operating facilities and infrastructure, maintaining equipment, providing logistics and program-management support, and delivering technology and cybersecurity services.

The company serves customers in areas including defense, intelligence, space, energy and environmental remediation. Its clients include U.S. government agencies and customers in other countries, with work spanning operations and support as well as complex engineering and technology projects.

Amentum took its current form in 2024, when the company combined with Jacobs Solutions’ Critical Mission Solutions and Cyber & Intelligence businesses.