Atmus Filtration Technologies (NYSE:ATMU) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Atmus Filtration Technologies (NYSE:ATMU) announced its quarterly 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 business had revenue of $426.60 million for the quarter, compared to analysts’ expectations of $416.18 million. The firm’s revenue 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 %

Atmus Filtration Technologies stock traded down $2.48 during mid-day 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 twelve month low of $18.21 and a twelve month high of $33.70. The stock’s fifty day moving average price is $29.04 and its two-hundred day moving average price is $24.45. The company has a current ratio of 1.85, a quick ratio of 1.18 and a debt-to-equity ratio of 7.34.

Analyst Ratings Changes

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

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.