Bank of America Forecasts Strong Price Appreciation for Amentum (NYSE:AMTM) Stock

Amentum (NYSE:AMTM) had its price target lifted by research analysts at Bank of America from $27.00 to $30.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Bank of America‘s price target points to a potential upside of 3.56% from the company’s current price.

Several other equities research analysts have also issued reports on AMTM. Citizens Jmp increased their target price on shares of Amentum from $30.00 to $35.00 and gave the stock a “market outperform” rating in a report on Wednesday, November 26th. Morgan Stanley raised shares of Amentum from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $20.00 to $35.00 in a research note on Wednesday, November 26th. BTIG Research raised their price objective on shares of Amentum from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday, December 3rd. Truist Financial upped their target price on shares of Amentum from $30.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, November 26th. Finally, Cantor Fitzgerald increased their price target on Amentum from $35.00 to $40.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 2nd. Seven investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $32.42.

Amentum Price Performance

Shares of Amentum stock opened at $28.97 on Wednesday. The stock has a market cap of $7.06 billion, a P/E ratio of 107.30, a P/E/G ratio of 0.85 and a beta of -0.01. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.32 and a current ratio of 1.32. The stock’s fifty day moving average is $26.36 and its 200 day moving average is $24.87. Amentum has a one year low of $16.01 and a one year high of $31.87.

Amentum (NYSE:AMTM) last issued its quarterly earnings results on Monday, November 24th. The company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. Amentum had a return on equity of 11.57% and a net margin of 0.46%.The business had revenue of $3.93 billion during the quarter, compared to analysts’ expectations of $3.61 billion. The company’s revenue was up 10.1% on a year-over-year basis. Sell-side analysts anticipate that Amentum will post 2.1 earnings per share for the current year.

Hedge Funds Weigh In On Amentum

Institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its holdings in shares of Amentum by 14.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 104,771 shares of the company’s stock worth $2,509,000 after acquiring an additional 13,449 shares in the last quarter. Vermillion & White Wealth Management Group LLC bought a new stake in Amentum in the third quarter worth $46,000. CIBC Private Wealth Group LLC increased its position in Amentum by 63.6% in the third quarter. CIBC Private Wealth Group LLC now owns 5,300 shares of the company’s stock worth $127,000 after purchasing an additional 2,061 shares during the last quarter. Advisory Services Network LLC purchased a new stake in Amentum during the third quarter valued at $61,000. Finally, Dark Forest Capital Management LP bought a new position in Amentum during the third quarter valued at $2,296,000. Hedge funds and other institutional investors own 39.93% of the company’s stock.

About Amentum

Amentum is a government services provider specializing in mission-critical solutions for defense, federal civilian and commercial customers around the globe. The company delivers integrated services that span the full lifecycle of complex programs and facilities, including engineering, program and project management, logistics, operations, maintenance and environmental remediation.

Core offerings include infrastructure support, energy and facilities management, environmental solutions and nuclear services.