Atmus Filtration Technologies (NYSE:ATMU) Issues Quarterly Earnings Results

Atmus Filtration Technologies (NYSE:ATMU) announced its quarterly earnings data on Friday. The company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.01, Briefing.com reports. The business had revenue of $426.60 million during the quarter, compared to the consensus estimate of $416.18 million. Atmus Filtration Technologies had a net margin of 10.52% and a return on equity of 135.12%. The business’s revenue was up 1.9% on a year-over-year basis. 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 Trading Down 8.0 %

Shares of Atmus Filtration Technologies stock traded down $2.48 on Friday, hitting $28.44. 5,741,916 shares of the company traded hands, compared to its average volume of 2,326,992. The stock’s 50 day moving average price is $29.04 and its 200-day moving average price is $24.45. The company has a debt-to-equity ratio of 7.34, a quick ratio of 1.18 and a current ratio of 1.85. Atmus Filtration Technologies has a 52 week low of $18.21 and a 52 week high of $33.70.

Analysts Set New Price Targets

Several 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 price objective for the company in a research note on Wednesday, March 20th. Robert W. Baird raised 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 note on Wednesday, April 17th. JPMorgan Chase & Co. lifted their price target 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. Finally, The Goldman Sachs Group lifted their price target on shares of Atmus Filtration Technologies from $30.00 to $34.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Atmus Filtration Technologies presently has an average rating of “Buy” and a consensus 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.