JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Atmus Filtration Technologies (NYSE:ATMU) Stock

Atmus Filtration Technologies (NYSE:ATMU) had its price objective lifted by JPMorgan Chase & Co. from $44.00 to $46.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 19.71% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. Robert W. Baird cut 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 note on Monday, February 24th. Wells Fargo & Company reduced their price objective on Atmus Filtration Technologies from $40.00 to $39.00 and set an “equal weight” rating for the company in a research note on Monday, February 24th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $42.80.

Atmus Filtration Technologies Trading Up 0.9 %

Shares of ATMU traded up $0.35 during trading on Thursday, reaching $38.43. 141,930 shares of the company traded hands, compared to its average volume of 1,023,699. The stock has a 50-day simple moving average of $39.62 and a 200-day simple moving average of $39.67. The stock has a market cap of $3.20 billion, a PE ratio of 17.39, a price-to-earnings-growth ratio of 3.99 and a beta of 1.83. Atmus Filtration Technologies has a twelve month low of $27.62 and a twelve month high of $45.43. The company has a quick ratio of 1.35, a current ratio of 2.11 and a debt-to-equity ratio of 2.61.

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

Institutional Trading of Atmus Filtration Technologies

Hedge funds have recently added to or reduced their stakes in the business. Geneos Wealth Management Inc. acquired a new position in Atmus Filtration Technologies in the fourth quarter valued at $26,000. New Age Alpha Advisors LLC purchased a new position in shares of Atmus Filtration Technologies in the 4th quarter valued at $32,000. Nisa Investment Advisors LLC increased its holdings in Atmus Filtration Technologies by 333.1% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,139 shares of the company’s stock valued at $45,000 after purchasing an additional 876 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Atmus Filtration Technologies by 295.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,368 shares of the company’s stock valued at $54,000 after buying an additional 1,022 shares during the period. Finally, Quarry LP lifted its holdings in Atmus Filtration Technologies by 70.9% in the 4th quarter. Quarry LP now owns 1,993 shares of the company’s stock worth $78,000 after buying an additional 827 shares in the last quarter. 32.73% of the stock is owned by institutional investors and hedge funds.

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.