PHINIA (NYSE:PHIN) Shares Gap Up After Insider Buying Activity

Shares of PHINIA Inc. (NYSE:PHIN) gapped up before the market opened on Friday following insider buying activity. The stock had previously closed at $40.43, but opened at $42.62. PHINIA shares last traded at $42.45, with a volume of 67,562 shares traded.

Specifically, CEO Brady D. Ericson acquired 10,000 shares of PHINIA stock in a transaction dated Wednesday, April 30th. The stock was purchased at an average cost of $39.73 per share, for a total transaction of $397,300.00. Following the completion of the purchase, the chief executive officer now directly owns 436,486 shares in the company, valued at $17,341,588.78. This trade represents a 2.34 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on PHIN shares. Northland Capmk upgraded shares of PHINIA to a “strong-buy” rating in a report on Thursday, January 30th. Bank of America initiated coverage on shares of PHINIA in a report on Thursday, April 10th. They set a “buy” rating and a $53.00 target price for the company. Northland Securities assumed coverage on PHINIA in a research report on Thursday, January 30th. They set an “outperform” rating and a $61.00 price target on the stock. UBS Group reiterated a “neutral” rating and set a $45.00 price objective (down previously from $56.00) on shares of PHINIA in a research note on Thursday, April 10th. Finally, BNP Paribas cut PHINIA from an “outperform” rating to a “neutral” rating and set a $46.00 price objective for the company. in a report on Wednesday, April 23rd. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $51.50.

PHINIA Stock Up 3.6 %

The stock has a market cap of $1.67 billion, a PE ratio of 23.93 and a beta of 1.56. The business has a 50-day moving average price of $42.44 and a 200-day moving average price of $47.54. The company has a current ratio of 1.90, a quick ratio of 1.44 and a debt-to-equity ratio of 0.61.

PHINIA (NYSE:PHIN) last released its earnings results on Friday, April 25th. The company reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.10). PHINIA had a return on equity of 10.12% and a net margin of 2.32%. The company had revenue of $796.00 million for the quarter, compared to analysts’ expectations of $813.24 million. During the same period in the prior year, the firm earned $1.08 EPS. The firm’s revenue for the quarter was down 7.8% on a year-over-year basis. As a group, analysts forecast that PHINIA Inc. will post 4.21 earnings per share for the current year.

PHINIA Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 2.58%. This is a boost from PHINIA’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, February 28th. PHINIA’s payout ratio is presently 61.36%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PHIN. CX Institutional acquired a new stake in shares of PHINIA in the first quarter valued at about $31,000. Smartleaf Asset Management LLC grew its stake in PHINIA by 149.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 698 shares of the company’s stock valued at $33,000 after acquiring an additional 418 shares in the last quarter. KBC Group NV raised its holdings in PHINIA by 45.8% in the 4th quarter. KBC Group NV now owns 2,180 shares of the company’s stock valued at $105,000 after acquiring an additional 685 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of PHINIA during the 4th quarter worth approximately $144,000. Finally, AlphaQuest LLC acquired a new position in shares of PHINIA during the 4th quarter worth approximately $173,000. 90.94% of the stock is owned by institutional investors and hedge funds.

About PHINIA

PHINIA Inc engages in the development, design, and manufacture of integrated components and systems that optimize performance, increase efficiency, and reduce emissions in combustion and hybrid propulsion for commercial and light vehicles, and industrial applications. The company operates through Fuel Systems and Aftermarket segments.