Atmus Filtration Technologies (NYSE:ATMU) Cut to "Buy" at Wall Street Zen

Key Points

• Atmus Filtration Technologies has been downgraded by Wall Street Zen from a "strong-buy" to a "buy" rating, following reviews from several other analysts.
• The company reported earnings of $0.75 per share for the latest quarter, surpassing expectations and reflecting a 4.8% increase in revenue year-over-year.
• Atmus Filtration's stock currently holds an average rating of "Hold" with a consensus price target of $43.80, while multiple institutions have recently increased their stakes in the company.

Atmus Filtration Technologies (NYSE:ATMU - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a note issued to investors on Sunday.

A number of other analysts have also issued reports on ATMU. Wells Fargo & Company boosted their price target on Atmus Filtration Technologies from $37.00 to $39.00 and gave the company an "equal weight" rating in a report on Tuesday, July 1st. Robert W. Baird boosted their price target on Atmus Filtration Technologies from $41.00 to $45.00 and gave the company an "outperform" rating in a report on Monday, August 11th. The Goldman Sachs Group downgraded shares of Atmus Filtration Technologies from a "buy" rating to a "neutral" rating and set a $39.00 price objective for the company. in a research note on Tuesday, May 27th. Finally, JPMorgan Chase & Co. reissued a "neutral" rating and issued a $46.00 price objective (up previously from $44.00) on shares of Atmus Filtration Technologies in a research note on Wednesday, August 20th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $43.80.

Atmus Filtration Technologies Trading Down 0.8%

Shares of NYSE ATMU traded down $0.34 during trading hours on Friday, reaching $44.25. The stock had a trading volume of 70,961 shares, compared to its average volume of 790,704. The company has a current ratio of 2.15, a quick ratio of 1.43 and a debt-to-equity ratio of 1.75. The firm has a market cap of $3.64 billion, a price-to-earnings ratio of 19.57, a P/E/G ratio of 5.36 and a beta of 1.64. The business's fifty day moving average price is $39.42 and its two-hundred day moving average price is $37.54. Atmus Filtration Technologies has a 52-week low of $30.94 and a 52-week high of $45.92.

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

Hedge Funds Weigh In On Atmus Filtration Technologies

A number of large investors have recently made changes to their positions in ATMU. LPL Financial LLC increased its position in shares of Atmus Filtration Technologies by 3.3% during the fourth quarter. LPL Financial LLC now owns 10,102 shares of the company's stock worth $396,000 after purchasing an additional 326 shares in the last quarter. First Trust Advisors LP increased its position in shares of Atmus Filtration Technologies by 196.8% during the fourth quarter. First Trust Advisors LP now owns 158,136 shares of the company's stock worth $6,196,000 after purchasing an additional 104,855 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Atmus Filtration Technologies by 39.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 738,469 shares of the company's stock worth $28,931,000 after purchasing an additional 208,550 shares in the last quarter. MetLife Investment Management LLC increased its position in shares of Atmus Filtration Technologies by 4.3% during the fourth quarter. MetLife Investment Management LLC now owns 50,595 shares of the company's stock worth $1,982,000 after purchasing an additional 2,103 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its position in shares of Atmus Filtration Technologies by 295.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,368 shares of the company's stock worth $54,000 after purchasing an additional 1,022 shares in the last quarter. 32.73% of the stock is owned by institutional investors and hedge funds.

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.