Amentum (NYSE:AMTM) Sets New 52-Week Low – Time to Sell?

Amentum Holdings, Inc. (NYSE:AMTM)’s stock price hit a new 52-week low during trading on Friday . The stock traded as low as $16.90 and last traded at $17.50, with a volume of 873622 shares changing hands. The stock had previously closed at $18.30.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Cantor Fitzgerald upgraded shares of Amentum to a “hold” rating in a research report on Tuesday, February 25th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $24.00 target price on shares of Amentum in a report on Thursday, February 6th. Finally, The Goldman Sachs Group assumed coverage on Amentum in a report on Thursday, March 20th. They set a “neutral” rating and a $21.00 price target for the company. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $26.20.

Amentum Price Performance

The company has a debt-to-equity ratio of 1.02, a current ratio of 1.59 and a quick ratio of 1.59. The stock has a fifty day moving average price of $19.55.

Amentum (NYSE:AMTM) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.06. Equities analysts forecast that Amentum Holdings, Inc. will post 2.1 earnings per share for the current year.

Insider Transactions at Amentum

In related news, insider Steven J. Demetriou acquired 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The shares were bought at an average cost of $20.81 per share, with a total value of $2,081,000.00. Following the completion of the purchase, the insider now directly owns 620,893 shares in the company, valued at $12,920,783.33. The trade was a 19.20 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director Barbara Loughran bought 4,600 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were purchased at an average cost of $21.23 per share, with a total value of $97,658.00. Following the transaction, the director now directly owns 4,600 shares in the company, valued at approximately $97,658. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. 18.67% of the stock is owned by company insiders.

Hedge Funds Weigh In On Amentum

A number of hedge funds have recently bought and sold shares of the company. Huntington National Bank acquired a new stake in Amentum during the 4th quarter worth about $30,000. Anchor Investment Management LLC acquired a new stake in Amentum during the third quarter worth approximately $32,000. Glen Eagle Advisors LLC bought a new stake in Amentum in the third quarter worth approximately $35,000. IFP Advisors Inc increased its holdings in Amentum by 119.2% in the fourth quarter. IFP Advisors Inc now owns 1,532 shares of the company’s stock worth $35,000 after purchasing an additional 833 shares in the last quarter. Finally, Asset Planning Inc acquired a new position in Amentum in the fourth quarter valued at approximately $36,000. Institutional investors own 39.93% of the company’s stock.

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.