Atmus Filtration Technologies (NYSE:ATMU) Rating Lowered to Neutral at The Goldman Sachs Group

Atmus Filtration Technologies (NYSE:ATMU - Get Free Report) was downgraded by investment analysts at The Goldman Sachs Group from a "buy" rating to a "neutral" rating in a note issued to investors on Tuesday, Marketbeat.com reports. They presently have a $39.00 price objective on the stock. The Goldman Sachs Group's price target suggests a potential upside of 8.27% from the stock's previous close.

Other equities research analysts also recently issued reports about the company. JPMorgan Chase & Co. lifted their price objective on Atmus Filtration Technologies from $38.00 to $41.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Wells Fargo & Company lifted their price target on shares of Atmus Filtration Technologies from $35.00 to $37.00 and gave the stock an "equal weight" rating in a research note on Monday, May 5th. Finally, Robert W. Baird lowered their price objective on shares of Atmus Filtration Technologies from $46.00 to $45.00 and set an "outperform" rating on the stock in a research report on Monday, February 24th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $42.40.

Atmus Filtration Technologies Stock Down 0.2%

Shares of NYSE ATMU traded down $0.09 on Tuesday, reaching $36.02. 571,646 shares of the company's stock traded hands, compared to its average volume of 895,515. Atmus Filtration Technologies has a 12 month low of $27.62 and a 12 month high of $45.43. The company has a quick ratio of 1.35, a current ratio of 2.11 and a debt-to-equity ratio of 2.61. The company has a market cap of $2.98 billion, a price-to-earnings ratio of 16.30, a price-to-earnings-growth ratio of 3.99 and a beta of 1.81. The business's 50 day simple moving average is $35.56 and its two-hundred day simple moving average is $38.70.

Atmus Filtration Technologies (NYSE:ATMU - Get Free Report) last announced its quarterly earnings data on Friday, May 2nd. The company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.59 by $0.04. The company had revenue of $110.50 million for the quarter, compared to the consensus estimate of $424.03 million. Atmus Filtration Technologies had a net margin of 11.12% and a return on equity of 120.81%. Atmus Filtration Technologies's revenue for the quarter was down 2.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.60 EPS. As a group, equities research analysts forecast that Atmus Filtration Technologies will post 2.52 EPS for the current fiscal year.

Hedge Funds Weigh In On Atmus Filtration Technologies

Institutional investors have recently made changes to their positions in the business. Eminence Capital LP lifted its position in shares of Atmus Filtration Technologies by 79.0% during the 4th quarter. Eminence Capital LP now owns 4,592,614 shares of the company's stock valued at $179,939,000 after buying an additional 2,027,617 shares in the last quarter. T. Rowe Price Investment Management Inc. bought a new stake in Atmus Filtration Technologies during the 4th quarter worth approximately $63,949,000. Nuveen LLC purchased a new position in Atmus Filtration Technologies during the first quarter valued at approximately $48,966,000. Invesco Ltd. boosted its position in shares of Atmus Filtration Technologies by 806.1% in the fourth quarter. Invesco Ltd. now owns 1,167,382 shares of the company's stock worth $45,738,000 after purchasing an additional 1,038,541 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of Atmus Filtration Technologies in the fourth quarter worth $26,152,000. Institutional investors own 32.73% of the company's stock.

About Atmus Filtration Technologies

Atmus Filtration Technologies Inc designs, manufactures, and sells filtration products under the Fleetguard brand name in North America, Europe, South America, Asia, Australia, Africa, and internationally. The company offers fuel filters, lube filters, air filters, crankcase ventilation, hydraulic filters, coolants, and fuel additives, as well as other chemicals; and fuel water separators and other filtration systems to original equipment manufacturers, dealers/distributors, and end-users.