Atmus Filtration Technologies (NYSE:ATMU) Shares Gap Down to $30.92

Atmus Filtration Technologies Inc. (NYSE:ATMU)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $30.92, but opened at $30.00. Atmus Filtration Technologies shares last traded at $29.23, with a volume of 658,681 shares.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on ATMU shares. JPMorgan Chase & Co. boosted their price objective on Atmus Filtration Technologies from $36.00 to $38.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Northland Securities raised Atmus Filtration Technologies from a “market perform” rating to an “outperform” rating and set a $34.00 target price on the stock in a research report on Wednesday, March 20th. Robert W. Baird upped their price objective on shares of Atmus Filtration Technologies from $29.00 to $37.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 17th. Finally, The Goldman Sachs Group boosted their price objective on Atmus Filtration Technologies from $30.00 to $34.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, Atmus Filtration Technologies has an average rating of “Buy” and a consensus target price of $32.67.

Atmus Filtration Technologies Price Performance

The company has a current ratio of 1.85, a quick ratio of 1.18 and a debt-to-equity ratio of 7.34. The business’s 50-day simple moving average is $29.04 and its two-hundred day simple moving average is $24.45.

Atmus Filtration Technologies (NYSE:ATMU) last announced its quarterly earnings results on Wednesday, February 14th. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.05. Atmus Filtration Technologies had a net margin of 10.52% and a return on equity of 135.12%. The company had revenue of $399.70 million for the quarter, compared to analysts’ expectations of $384.55 million. The firm’s revenue was up 3.8% compared to the same quarter last year. Analysts predict that Atmus Filtration Technologies Inc. will post 2.24 EPS for the current fiscal year.

Institutional Investors Weigh In On Atmus Filtration Technologies

Hedge funds and other institutional investors have recently modified their holdings of the stock. Raymond James & Associates boosted its holdings in Atmus Filtration Technologies by 11.8% in the 3rd quarter. Raymond James & Associates now owns 13,569 shares of the company’s stock valued at $283,000 after purchasing an additional 1,429 shares during the period. Bank of New York Mellon Corp bought a new stake in shares of Atmus Filtration Technologies during the 3rd quarter valued at about $837,000. Strs Ohio bought a new stake in shares of Atmus Filtration Technologies during the 3rd quarter valued at about $72,000. Allspring Global Investments Holdings LLC grew its holdings in shares of Atmus Filtration Technologies by 1.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 469,601 shares of the company’s stock worth $9,791,000 after purchasing an additional 8,391 shares in the last quarter. Finally, Cambiar Investors LLC bought a new position in shares of Atmus Filtration Technologies in the third quarter worth approximately $1,972,000. 32.73% of the stock is currently owned by institutional investors.

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.