Wells Fargo & Company Lowers Atmus Filtration Technologies (NYSE:ATMU) Price Target to $40.00

Atmus Filtration Technologies (NYSE:ATMU) had its target price cut by analysts at Wells Fargo & Company from $45.00 to $40.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective indicates a potential upside of 1.39% from the company’s previous close.

Several other brokerages also recently issued reports on ATMU. Robert W. Baird lifted their price objective on Atmus Filtration Technologies from $42.00 to $48.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. JPMorgan Chase & Co. lifted their price objective on Atmus Filtration Technologies from $39.00 to $47.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Finally, Northland Securities lifted their price objective on Atmus Filtration Technologies from $49.00 to $50.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Atmus Filtration Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.80.

Atmus Filtration Technologies Price Performance

ATMU stock opened at $39.45 on Tuesday. The firm has a 50 day moving average of $41.16 and a 200-day moving average of $36.43. Atmus Filtration Technologies has a 12-month low of $21.09 and a 12-month high of $45.43. The company has a current ratio of 2.11, a quick ratio of 1.35 and a debt-to-equity ratio of 2.61. The company has a market cap of $3.28 billion, a price-to-earnings ratio of 18.35, a PEG ratio of 4.42 and a beta of 1.80.

Atmus Filtration Technologies (NYSE:ATMU) last posted its quarterly earnings results on Friday, November 8th. The company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.09. Atmus Filtration Technologies had a net margin of 10.84% and a return on equity of 134.28%. The company had revenue of $404.00 million during the quarter, compared to the consensus estimate of $403.40 million. During the same period last year, the firm earned $0.52 EPS. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. As a group, equities analysts expect that Atmus Filtration Technologies will post 2.45 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Quarry LP acquired a new position in Atmus Filtration Technologies in the 2nd quarter valued at $29,000. GAMMA Investing LLC raised its holdings in Atmus Filtration Technologies by 89.3% in the 3rd quarter. GAMMA Investing LLC now owns 1,641 shares of the company’s stock valued at $62,000 after acquiring an additional 774 shares during the last quarter. KBC Group NV raised its holdings in Atmus Filtration Technologies by 42.1% in the 3rd quarter. KBC Group NV now owns 2,424 shares of the company’s stock valued at $91,000 after acquiring an additional 718 shares during the last quarter. Daiwa Securities Group Inc. acquired a new position in Atmus Filtration Technologies in the 2nd quarter valued at $134,000. Finally, Oppenheimer Asset Management Inc. acquired a new position in Atmus Filtration Technologies in the 2nd quarter valued at $220,000. 32.73% of the stock is currently 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.