Robert W. Baird Raises Atmus Filtration Technologies (NYSE:ATMU) Price Target to $48.00

Atmus Filtration Technologies (NYSE:ATMU) had its price objective lifted by equities researchers at Robert W. Baird from $42.00 to $48.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Robert W. Baird’s price target would indicate a potential upside of 10.17% from the company’s current price.

Several other equities research analysts have also recently weighed in on the company. Northland Securities upped their price target on Atmus Filtration Technologies from $38.00 to $49.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 15th. Wells Fargo & Company downgraded shares of Atmus Filtration Technologies from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $42.00 to $45.00 in a research note on Monday. Finally, JPMorgan Chase & Co. increased their price target on Atmus Filtration Technologies from $39.00 to $47.00 and gave the company an “overweight” rating in a report on Friday, October 11th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $44.80.

Atmus Filtration Technologies Stock Performance

Shares of Atmus Filtration Technologies stock opened at $43.57 on Tuesday. The firm has a market capitalization of $3.62 billion, a P/E ratio of 20.30, a price-to-earnings-growth ratio of 4.79 and a beta of 1.68. The business’s fifty day simple moving average is $38.02 and its 200 day simple moving average is $33.15. The company has a current ratio of 2.11, a quick ratio of 1.30 and a debt-to-equity ratio of 2.61. Atmus Filtration Technologies has a 12 month low of $20.05 and a 12 month high of $44.66.

Atmus Filtration Technologies (NYSE:ATMU) last issued its earnings results on Friday, November 8th. The company reported $0.61 earnings per share for the quarter, topping 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 firm had revenue of $404.00 million during the quarter, compared to analyst estimates of $403.40 million. During the same quarter last year, the business earned $0.52 earnings per share. The company’s quarterly revenue was up 2.0% on a year-over-year basis. As a group, analysts anticipate that Atmus Filtration Technologies will post 2.37 EPS for the current year.

Insider Activity at Atmus Filtration Technologies

In related news, Director Gretchen R. Haggerty bought 5,849 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was bought at an average price of $34.20 per share, with a total value of $200,035.80. Following the transaction, the director now owns 19,882 shares of the company’s stock, valued at approximately $679,964.40. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 0.43% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Atmus Filtration Technologies

Hedge funds have recently added to or reduced their stakes in the company. Glenmede Trust Co. NA increased its stake in Atmus Filtration Technologies by 0.7% in the 3rd quarter. Glenmede Trust Co. NA now owns 41,275 shares of the company’s stock valued at $1,549,000 after buying an additional 303 shares during the last quarter. ProShare Advisors LLC raised its holdings in Atmus Filtration Technologies by 3.1% during the 2nd quarter. ProShare Advisors LLC now owns 11,282 shares of the company’s stock worth $325,000 after purchasing an additional 344 shares during the last quarter. Crossmark Global Holdings Inc. increased its position in Atmus Filtration Technologies by 2.8% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 12,999 shares of the company’s stock valued at $374,000 after buying an additional 355 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its position in shares of Atmus Filtration Technologies by 4.6% during the third quarter. DekaBank Deutsche Girozentrale now owns 14,256 shares of the company’s stock valued at $535,000 after purchasing an additional 626 shares in the last quarter. Finally, KBC Group NV raised its position in Atmus Filtration Technologies by 42.1% in the third quarter. KBC Group NV now owns 2,424 shares of the company’s stock worth $91,000 after acquiring an additional 718 shares during the period. 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.