Bank of America Forecasts Strong Price Appreciation for PHINIA (NYSE:PHIN) Stock

PHINIA (NYSE:PHIN) had its price objective raised by Bank of America from $53.00 to $55.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Bank of America‘s price target suggests a potential upside of 24.49% from the stock’s previous close.

Several other brokerages also recently commented on PHIN. UBS Group reaffirmed a “neutral” rating and issued a $45.00 price target (down from $56.00) on shares of PHINIA in a research report on Thursday, April 10th. CL King started coverage on PHINIA in a research report on Monday, March 24th. They issued a “buy” rating and a $54.00 target price for the company. BNP Paribas lowered shares of PHINIA from an “outperform” rating to a “neutral” rating and set a $46.00 price target on the stock. in a report on Wednesday, April 23rd. Northland Capmk upgraded shares of PHINIA to a “strong-buy” rating in a research report on Thursday, January 30th. Finally, Northland Securities initiated coverage on shares of PHINIA in a research note on Thursday, January 30th. They set an “outperform” rating and a $61.00 price target for the company. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, PHINIA currently has an average rating of “Moderate Buy” and a consensus price target of $51.83.

PHINIA Stock Performance

Shares of PHIN opened at $44.18 on Thursday. The company’s 50 day moving average price is $41.86 and its 200 day moving average price is $47.37. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.44 and a current ratio of 1.90. PHINIA has a 52 week low of $36.25 and a 52 week high of $57.23. The company has a market capitalization of $1.76 billion, a PE ratio of 25.25 and a beta of 1.59.

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

Insiders Place Their Bets

In other PHINIA news, CEO Brady D. Ericson purchased 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 30th. The stock was acquired at an average cost of $39.73 per share, with a total value 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 approximately $17,341,588.78. This represents a 2.34% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Brandywine Global Investment Management LLC bought a new position in PHINIA during the 4th quarter worth approximately $6,874,000. Barclays PLC grew its holdings in shares of PHINIA by 336.2% in the 3rd quarter. Barclays PLC now owns 72,805 shares of the company’s stock valued at $3,351,000 after buying an additional 56,114 shares during the period. Empowered Funds LLC increased its position in shares of PHINIA by 5.1% in the 4th quarter. Empowered Funds LLC now owns 239,821 shares of the company’s stock valued at $11,552,000 after buying an additional 11,625 shares in the last quarter. Ritholtz Wealth Management raised its stake in PHINIA by 50.8% during the 4th quarter. Ritholtz Wealth Management now owns 28,046 shares of the company’s stock worth $1,351,000 after buying an additional 9,442 shares during the period. Finally, Alliancebernstein L.P. grew its stake in PHINIA by 4.2% in the fourth quarter. Alliancebernstein L.P. now owns 60,963 shares of the company’s stock valued at $2,937,000 after acquiring an additional 2,445 shares during the period. Institutional investors and hedge funds own 90.94% of the company’s stock.

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.