Wells Fargo & Company Issues Positive Forecast for Atmus Filtration Technologies (NYSE:ATMU) Stock Price

Key Points

• Wells Fargo & Company has raised its price target for Atmus Filtration Technologies (NYSE:ATMU) from $42.00 to $47.00, indicating a potential upside of 2.58% from the company's previous close.
• Atmus reported earnings of $0.75 per share for the last quarter, surpassing expectations, with a revenue increase of 4.8% year-over-year.
• The stock currently holds an average rating of "Hold" with a consensus price target of $45.40, as various analysts weigh in with differing ratings.

Atmus Filtration Technologies (NYSE:ATMU - Get Free Report) had its price objective upped by equities researchers at Wells Fargo & Company from $42.00 to $47.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Wells Fargo & Company's price target would suggest a potential upside of 2.04% from the company's previous close.

Several other equities analysts have also weighed in on the stock. Wall Street Zen lowered shares of Atmus Filtration Technologies from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 24th. The Goldman Sachs Group cut shares of Atmus Filtration Technologies from a "buy" rating to a "neutral" rating and set a $39.00 target price on the stock. in a research report on Tuesday, May 27th. JPMorgan Chase & Co. reissued a "neutral" rating and set a $46.00 price target (up previously from $44.00) on shares of Atmus Filtration Technologies in a research report on Wednesday, August 20th. Finally, Robert W. Baird raised their target price on shares of Atmus Filtration Technologies from $41.00 to $45.00 and gave the company an "outperform" rating in a report on Monday, August 11th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Atmus Filtration Technologies currently has a consensus rating of "Hold" and a consensus target price of $45.40.

Atmus Filtration Technologies Stock Down 0.8%

Atmus Filtration Technologies stock traded down $0.38 during midday trading on Thursday, hitting $46.06. 2,002,166 shares of the company's stock were exchanged, compared to its average volume of 688,091. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.43 and a current ratio of 2.15. Atmus Filtration Technologies has a 12 month low of $30.94 and a 12 month high of $47.10. The firm has a 50-day moving average of $42.19 and a two-hundred day moving average of $38.27. The company has a market cap of $3.78 billion, a PE ratio of 20.38, a P/E/G ratio of 5.53 and a beta of 1.65.

Atmus Filtration Technologies (NYSE:ATMU - Get Free Report) last issued its earnings results on Friday, August 8th. The company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.09. Atmus Filtration Technologies had a net margin of 11.22% and a return on equity of 83.23%. The company had revenue of $453.50 million for the quarter, compared to analysts' expectations of $433.51 million. During the same period in the prior year, the business earned $0.71 EPS. The firm's quarterly revenue was up 4.8% on a year-over-year basis. Atmus Filtration Technologies has set its FY 2025 guidance at 2.400-2.600 EPS. As a group, analysts expect that Atmus Filtration Technologies will post 2.52 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Atmus Filtration Technologies

Several institutional investors have recently bought and sold shares of ATMU. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Atmus Filtration Technologies by 4.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,698 shares of the company's stock valued at $1,869,000 after purchasing an additional 1,818 shares during the last quarter. Millennium Management LLC raised its position in shares of Atmus Filtration Technologies by 91.1% during the fourth quarter. Millennium Management LLC now owns 186,912 shares of the company's stock worth $7,323,000 after acquiring an additional 89,107 shares during the last quarter. ProShare Advisors LLC raised its position in shares of Atmus Filtration Technologies by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 23,599 shares of the company's stock worth $925,000 after acquiring an additional 7,764 shares during the last quarter. State of Wyoming raised its position in shares of Atmus Filtration Technologies by 31.9% during the fourth quarter. State of Wyoming now owns 6,560 shares of the company's stock worth $257,000 after acquiring an additional 1,587 shares during the last quarter. Finally, Voloridge Investment Management LLC raised its position in shares of Atmus Filtration Technologies by 90.0% during the fourth quarter. Voloridge Investment Management LLC now owns 211,676 shares of the company's stock worth $8,293,000 after acquiring an additional 100,281 shares during the last quarter. 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.