Wells Fargo & Company Downgrades Atmus Filtration Technologies (NYSE:ATMU) to Equal Weight

Atmus Filtration Technologies (NYSE:ATMU) was downgraded by investment analysts at Wells Fargo & Company from an “overweight” rating to an “equal weight” rating in a research report issued on Monday, MarketBeat reports. They currently have a $45.00 price objective on the stock, up from their previous price objective of $42.00. Wells Fargo & Company‘s price target indicates a potential upside of 5.73% from the company’s current price.

ATMU has been the topic of a number of other research reports. Robert W. Baird increased their price target on Atmus Filtration Technologies from $37.00 to $42.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Northland Securities increased their target price on Atmus Filtration Technologies from $38.00 to $49.00 and gave the stock an “outperform” rating in a report on Tuesday, October 15th. Finally, JPMorgan Chase & Co. boosted their price target on Atmus Filtration Technologies from $39.00 to $47.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $44.80.

Atmus Filtration Technologies Stock Up 0.4 %

ATMU opened at $42.56 on Monday. The stock has a fifty day moving average of $37.85 and a 200-day moving average of $33.07. The company has a market capitalization of $3.55 billion, a P/E ratio of 19.88, a P/E/G ratio of 5.05 and a beta of 1.68. Atmus Filtration Technologies has a fifty-two week low of $19.04 and a fifty-two week high of $44.66. The company has a debt-to-equity ratio of 3.28, a quick ratio of 1.30 and a current ratio of 2.07.

Atmus Filtration Technologies (NYSE:ATMU) last released its quarterly earnings results on Friday, November 8th. The company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.09. Atmus Filtration Technologies had a net margin of 10.52% and a return on equity of 187.12%. The business had revenue of $404.00 million for the quarter, compared to analyst estimates of $403.40 million. During the same period last year, the firm earned $0.52 earnings per share. Atmus Filtration Technologies’s revenue for the quarter was up 2.0% compared to the same quarter last year. On average, equities analysts expect that Atmus Filtration Technologies will post 2.34 EPS for the current year.

Insider Buying and Selling

In other Atmus Filtration Technologies news, Director Gretchen R. Haggerty bought 5,849 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were purchased at an average price of $34.20 per share, for a total transaction of $200,035.80. Following the completion of the transaction, the director now directly owns 19,882 shares in the company, valued at approximately $679,964.40. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.43% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Atmus Filtration Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Algert Global LLC increased its holdings in shares of Atmus Filtration Technologies by 516.7% during the third quarter. Algert Global LLC now owns 161,513 shares of the company’s stock worth $6,062,000 after buying an additional 135,325 shares in the last quarter. Eagle Asset Management Inc. bought a new stake in Atmus Filtration Technologies during the 3rd quarter worth $21,635,000. Charles Schwab Investment Management Inc. increased its holdings in Atmus Filtration Technologies by 5.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 713,143 shares of the company’s stock worth $26,764,000 after purchasing an additional 39,114 shares in the last quarter. Intech Investment Management LLC bought a new position in Atmus Filtration Technologies in the third quarter valued at about $831,000. Finally, Prospera Financial Services Inc acquired a new stake in shares of Atmus Filtration Technologies during the third quarter valued at about $246,000. 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.