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

Atmus Filtration Technologies (NYSE:ATMU) had its price target cut by Wells Fargo & Company from $40.00 to $39.00 in a report released on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential downside of 0.53% from the stock’s current price.

Several other research firms have also weighed in on ATMU. Northland Securities lifted their price objective on Atmus Filtration Technologies from $49.00 to $50.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Robert W. Baird reduced their price target on shares of Atmus Filtration Technologies from $46.00 to $45.00 and set an “outperform” rating on the stock in a research report on Monday. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $43.00.

Atmus Filtration Technologies Price Performance

ATMU opened at $39.21 on Monday. Atmus Filtration Technologies has a 1 year low of $22.74 and a 1 year high of $45.43. The company has a debt-to-equity ratio of 2.61, a quick ratio of 1.35 and a current ratio of 2.11. The company’s 50 day simple moving average is $40.30 and its 200 day simple moving average is $39.08. The stock has a market capitalization of $3.26 billion, a PE ratio of 17.74, a P/E/G ratio of 3.99 and a beta of 1.80.

Atmus Filtration Technologies (NYSE:ATMU) last announced its quarterly earnings results on Friday, February 21st. The company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.05. The company had revenue of $406.70 million for the quarter, compared to analyst estimates of $399.24 million. Atmus Filtration Technologies had a net margin of 11.12% and a return on equity of 120.81%. As a group, sell-side analysts expect that Atmus Filtration Technologies will post 2.52 EPS for the current year.

Institutional Trading of Atmus Filtration Technologies

Several large investors have recently bought and sold shares of the company. Glenmede Trust Co. NA boosted its stake in shares of Atmus Filtration Technologies by 0.7% in the third quarter. Glenmede Trust Co. NA now owns 41,275 shares of the company’s stock valued at $1,549,000 after purchasing an additional 303 shares during the period. LPL Financial LLC lifted its holdings in Atmus Filtration Technologies by 3.3% in the 4th quarter. LPL Financial LLC now owns 10,102 shares of the company’s stock worth $396,000 after buying an additional 326 shares in the last quarter. Summit Investment Advisors Inc. boosted its position in Atmus Filtration Technologies by 3.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 8,766 shares of the company’s stock valued at $343,000 after buying an additional 330 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Atmus Filtration Technologies by 1.7% during the fourth quarter. Franklin Resources Inc. now owns 28,712 shares of the company’s stock valued at $1,125,000 after acquiring an additional 476 shares in the last quarter. Finally, Graham Capital Management L.P. increased its position in shares of Atmus Filtration Technologies by 1.9% during the fourth quarter. Graham Capital Management L.P. now owns 27,511 shares of the company’s stock worth $1,078,000 after acquiring an additional 511 shares during the last quarter. Institutional investors and hedge funds 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.