Atmus Filtration Technologies (NYSE:ATMU) Trading 5.8% Higher After Better-Than-Expected Earnings

Atmus Filtration Technologies Inc. (NYSE:ATMU) shares rose 5.8% on Monday after the company announced better than expected quarterly earnings. The stock traded as high as $30.17 and last traded at $30.08. Approximately 936,765 shares were traded during trading, a decline of 70% from the average daily volume of 3,101,987 shares. The stock had previously closed at $28.44.

The company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.01. The firm had revenue of $426.60 million during the quarter, compared to analyst estimates of $416.18 million. Atmus Filtration Technologies had a return on equity of 482.30% and a net margin of 10.03%. The firm’s revenue was up 1.9% compared to the same quarter last year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Northland Securities raised shares of Atmus Filtration Technologies from a “market perform” rating to an “outperform” rating and set a $34.00 target price for the company in a research note on Wednesday, March 20th. The Goldman Sachs Group upped their target price 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. Wells Fargo & Company reduced their price target on Atmus Filtration Technologies from $37.00 to $36.00 and set an “overweight” rating for the company in a report on Monday. Robert W. Baird increased their price objective on Atmus Filtration Technologies from $29.00 to $37.00 and gave the stock an “outperform” rating in a report on Wednesday, April 17th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Atmus Filtration Technologies from $36.00 to $38.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $34.00.

Hedge Funds Weigh In On Atmus Filtration Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Kennedy Capital Management LLC bought a new stake in Atmus Filtration Technologies during the 3rd quarter valued at approximately $2,606,000. Swiss National Bank acquired a new position in Atmus Filtration Technologies in the 3rd quarter valued at approximately $763,000. Victory Capital Management Inc. bought a new stake in shares of Atmus Filtration Technologies in the 3rd quarter worth approximately $772,000. Vanguard Group Inc. increased its position in shares of Atmus Filtration Technologies by 73.5% during the third quarter. Vanguard Group Inc. now owns 1,664,828 shares of the company’s stock valued at $34,712,000 after purchasing an additional 705,018 shares during the period. Finally, Cambiar Investors LLC bought a new stake in shares of Atmus Filtration Technologies during the third quarter valued at approximately $1,972,000. Institutional investors and hedge funds own 32.73% of the company’s stock.

Atmus Filtration Technologies Stock Down 0.0 %

The firm has a market capitalization of $2.47 billion and a price-to-earnings ratio of 15.14. The business has a 50 day moving average of $29.28 and a 200 day moving average of $24.63. The company has a debt-to-equity ratio of 7.34, a current ratio of 1.85 and a quick ratio of 1.18.

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.