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 target price boosted by analysts at Wells Fargo & Company from $42.00 to $47.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Wells Fargo & Company's price objective indicates a potential upside of 1.93% from the stock's current price.

Other research analysts have also issued reports about the company. Wall Street Zen lowered Atmus Filtration Technologies from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 24th. The Goldman Sachs Group cut Atmus Filtration Technologies from a "buy" rating to a "neutral" rating and set a $39.00 target price for the company. in a research report on Tuesday, May 27th. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $46.00 price objective (up previously from $44.00) on shares of Atmus Filtration Technologies in a report on Wednesday, August 20th. Finally, Robert W. Baird lifted their price objective on Atmus Filtration Technologies from $41.00 to $45.00 and gave the company an "outperform" rating in a research report on Monday, August 11th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $45.40.

Atmus Filtration Technologies Price Performance

Shares of NYSE ATMU traded up $0.13 during midday trading on Thursday, hitting $46.11. The company had a trading volume of 186,067 shares, compared to its average volume of 795,799. The business has a 50-day simple moving average of $42.19 and a two-hundred day simple moving average of $38.27. The company has a quick ratio of 1.43, a current ratio of 2.15 and a debt-to-equity ratio of 1.75. Atmus Filtration Technologies has a twelve month low of $30.94 and a twelve month high of $47.10. The firm has a market capitalization of $3.79 billion, a price-to-earnings ratio of 20.33, a price-to-earnings-growth ratio of 5.53 and a beta of 1.65.

Atmus Filtration Technologies (NYSE:ATMU - Get Free Report) last posted its quarterly earnings results on Friday, August 8th. The company reported $0.75 earnings per share (EPS) for the quarter, beating 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 firm 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 company posted $0.71 earnings per share. 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. Equities research analysts anticipate that Atmus Filtration Technologies will post 2.52 earnings per share for the current year.

Institutional Investors Weigh In On Atmus Filtration Technologies

Hedge funds have recently made changes to their positions in the company. Osaic Holdings Inc. lifted its holdings in shares of Atmus Filtration Technologies by 54.8% during the 2nd quarter. Osaic Holdings Inc. now owns 2,471 shares of the company's stock worth $90,000 after acquiring an additional 875 shares during the period. Squarepoint Ops LLC lifted its stake in Atmus Filtration Technologies by 465.7% in the second quarter. Squarepoint Ops LLC now owns 210,521 shares of the company's stock valued at $7,667,000 after buying an additional 173,305 shares in the last quarter. State of Wyoming increased its holdings in shares of Atmus Filtration Technologies by 55.3% in the second quarter. State of Wyoming now owns 16,495 shares of the company's stock valued at $601,000 after purchasing an additional 5,871 shares during the last quarter. Geneos Wealth Management Inc. boosted its position in shares of Atmus Filtration Technologies by 93.6% in the second quarter. Geneos Wealth Management Inc. now owns 1,332 shares of the company's stock valued at $49,000 after acquiring an additional 644 shares during the period. Finally, Tower Research Capital LLC TRC boosted its position in shares of Atmus Filtration Technologies by 70.8% in the second quarter. Tower Research Capital LLC TRC now owns 14,246 shares of the company's stock valued at $519,000 after acquiring an additional 5,907 shares during the period. Hedge funds and other institutional investors own 32.73% of the company's stock.

Atmus Filtration Technologies Company Profile

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.