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

Atmus Filtration Technologies (NYSE:ATMU - Get Free Report) had its price target increased by equities research analysts at Wells Fargo & Company from $37.00 to $39.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Wells Fargo & Company's price objective would indicate a potential upside of 3.23% from the stock's current price.

Other analysts have also recently issued reports about the stock. JPMorgan Chase & Co. boosted their price objective on shares of Atmus Filtration Technologies from $38.00 to $41.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. The Goldman Sachs Group cut Atmus Filtration Technologies from a "buy" rating to a "neutral" rating and set a $39.00 target price on the stock. in a report on Tuesday, May 27th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Atmus Filtration Technologies has a consensus rating of "Moderate Buy" and an average price target of $42.80.

Atmus Filtration Technologies Trading Up 1.2%

NYSE ATMU traded up $0.44 during trading hours on Tuesday, hitting $37.78. 301,314 shares of the company's stock were exchanged, compared to its average volume of 854,828. The business's 50 day moving average is $36.40 and its 200-day moving average is $37.63. The company has a debt-to-equity ratio of 2.12, a quick ratio of 1.46 and a current ratio of 2.23. Atmus Filtration Technologies has a 12-month low of $28.01 and a 12-month high of $45.43. The firm has a market capitalization of $3.12 billion, a P/E ratio of 17.10, a price-to-earnings-growth ratio of 4.72 and a beta of 1.64.

Atmus Filtration Technologies (NYSE:ATMU - Get Free Report) last announced its quarterly earnings data on Friday, May 2nd. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.04. Atmus Filtration Technologies had a net margin of 11.14% and a return on equity of 94.85%. The business had revenue of $110.50 million for the quarter, compared to analyst estimates of $424.03 million. During the same period in the prior year, the firm posted $0.60 EPS. The company's revenue was down 2.3% on a year-over-year basis. As a group, analysts anticipate 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 institutional investors have recently added to or reduced their stakes in the company. Jones Financial Companies Lllp lifted its stake in shares of Atmus Filtration Technologies by 143.1% in the first quarter. Jones Financial Companies Lllp now owns 700 shares of the company's stock worth $26,000 after acquiring an additional 412 shares in the last quarter. SouthState Corp purchased a new stake in Atmus Filtration Technologies during the 1st quarter worth approximately $27,000. New Age Alpha Advisors LLC acquired a new position in shares of Atmus Filtration Technologies in the 4th quarter valued at approximately $32,000. Tower Research Capital LLC TRC raised its position in shares of Atmus Filtration Technologies by 295.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,368 shares of the company's stock valued at $54,000 after purchasing an additional 1,022 shares in the last quarter. Finally, Quarry LP boosted its stake in shares of Atmus Filtration Technologies by 70.9% during the 4th quarter. Quarry LP now owns 1,993 shares of the company's stock valued at $78,000 after buying an additional 827 shares during the last quarter. Institutional investors and hedge funds 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.