Atmus Filtration Technologies (NYSE:ATMU) Posts Earnings Results

Atmus Filtration Technologies (NYSE:ATMU) posted its earnings results on Friday. The company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.01, Briefing.com reports. Atmus Filtration Technologies had a return on equity of 135.12% and a net margin of 10.52%. The firm had revenue of $426.60 million for the quarter, compared to the consensus estimate of $416.18 million. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. Atmus Filtration Technologies updated its FY24 guidance to $2.10-2.35 EPS and its FY 2024 guidance to 2.100-2.350 EPS.

Atmus Filtration Technologies Stock Down 8.0 %

ATMU stock traded down $2.48 during midday trading on Friday, hitting $28.44. The company’s stock had a trading volume of 5,741,916 shares, compared to its average volume of 2,326,992. Atmus Filtration Technologies has a 12 month low of $18.21 and a 12 month high of $33.70. The company has a debt-to-equity ratio of 7.34, a quick ratio of 1.18 and a current ratio of 1.85. The firm’s 50-day moving average is $29.04 and its 200-day moving average is $24.45.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on ATMU shares. 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 report on Tuesday, April 16th. Northland Securities upgraded Atmus Filtration Technologies from a “market perform” rating to an “outperform” rating and set a $34.00 price target on the stock in a research note on Wednesday, March 20th. JPMorgan Chase & Co. upped their price target on Atmus Filtration Technologies from $36.00 to $38.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Finally, Robert W. Baird upped their price target on Atmus Filtration Technologies from $29.00 to $37.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 17th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Atmus Filtration Technologies presently has an average rating of “Buy” and an average target price of $32.67.

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.