Amentum (NYSE:AMTM) Reaches New 52-Week Low – Here’s Why

Amentum Holdings, Inc. (NYSE:AMTM) reached a new 52-week low during trading on Tuesday . The company traded as low as $17.41 and last traded at $17.73, with a volume of 563569 shares trading hands. The stock had previously closed at $18.56.

Analyst Ratings Changes

A number of research firms have commented on AMTM. Raymond James started coverage on shares of Amentum in a research note on Thursday, November 21st. They issued an “outperform” rating and a $30.00 price objective on the stock. Cantor Fitzgerald raised Amentum to a “hold” rating in a research report on Tuesday, February 25th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $24.00 target price on shares of Amentum in a report on Thursday, February 6th.

Amentum Stock Down 8.1 %

The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.59 and a current ratio of 1.59. The company’s fifty day moving average price is $21.08.

Amentum (NYSE:AMTM) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.06. As a group, sell-side analysts expect that Amentum Holdings, Inc. will post 2.1 EPS for the current year.

Insiders Place Their Bets

In other news, Director Barbara Loughran acquired 4,600 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was purchased at an average cost of $21.23 per share, with a total value of $97,658.00. Following the purchase, the director now directly owns 4,600 shares of the company’s stock, valued at approximately $97,658. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Steven J. Demetriou purchased 100,000 shares of the company’s stock in a transaction dated Wednesday, February 12th. The stock was purchased at an average price of $20.81 per share, with a total value of $2,081,000.00. Following the transaction, the insider now owns 620,893 shares of the company’s stock, valued at approximately $12,920,783.33. This represents a 19.20 % 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 company insiders.

Institutional Trading of Amentum

Large investors have recently modified their holdings of the business. Arrow Financial Corp purchased a new stake in Amentum in the 3rd quarter valued at approximately $26,000. US Bancorp DE acquired a new stake in shares of Amentum during the 3rd quarter worth about $30,000. Anchor Investment Management LLC purchased a new stake in shares of Amentum during the third quarter worth about $32,000. Glen Eagle Advisors LLC acquired a new position in shares of Amentum in the third quarter valued at approximately $35,000. Finally, Studio Investment Management LLC purchased a new position in shares of Amentum during the third quarter valued at approximately $42,000. 39.93% of the stock is currently owned by institutional investors and hedge funds.

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.