PHINIA (NYSE:PHIN) Price Target Lowered to $46.00 at Morgan Stanley

PHINIA (NYSE:PHIN) had its price target lowered by Morgan Stanley from $50.00 to $46.00 in a report published on Monday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Other equities research analysts also recently issued research reports about the stock. UBS Group restated a “neutral” rating and issued a $45.00 price objective (down previously from $56.00) on shares of PHINIA in a research note on Thursday, April 10th. CL King initiated coverage on shares of PHINIA in a research note on Monday, March 24th. They issued a “buy” rating and a $54.00 price objective on the stock. BNP Paribas cut PHINIA from an “outperform” rating to a “neutral” rating and set a $46.00 target price for the company. in a research report on Wednesday, April 23rd. Bank of America raised their target price on PHINIA from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday, May 15th. Finally, Northland Capmk raised PHINIA to a “strong-buy” rating in a research report on Thursday, January 30th. Three analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $51.17.

PHINIA Trading Down 0.2%

Shares of PHIN stock opened at $44.12 on Monday. PHINIA has a 12 month low of $36.25 and a 12 month high of $57.23. The company has a quick ratio of 1.44, a current ratio of 1.90 and a debt-to-equity ratio of 0.61. The business’s 50 day moving average is $41.89 and its two-hundred day moving average is $47.38. The company has a market cap of $1.76 billion, a PE ratio of 25.21 and a beta of 1.59.

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

Insider Buying and Selling at PHINIA

In related news, CEO Brady D. Ericson acquired 10,000 shares of the business’s stock in a transaction on Wednesday, April 30th. The stock was bought at an average cost of $39.73 per share, with a total value of $397,300.00. Following the completion of the acquisition, the chief executive officer now owns 436,486 shares in the company, valued at $17,341,588.78. The trade was a 2.34% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in PHIN. CX Institutional bought a new position in shares of PHINIA in the first quarter valued at about $31,000. Smartleaf Asset Management LLC raised its holdings in shares of PHINIA by 149.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 698 shares of the company’s stock valued at $33,000 after buying an additional 418 shares during the last quarter. Brooklyn Investment Group raised its holdings in shares of PHINIA by 853.0% in the first quarter. Brooklyn Investment Group now owns 1,582 shares of the company’s stock valued at $67,000 after buying an additional 1,416 shares during the last quarter. KBC Group NV raised its holdings in shares of PHINIA by 45.8% in the fourth quarter. KBC Group NV now owns 2,180 shares of the company’s stock valued at $105,000 after buying an additional 685 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of PHINIA in the fourth quarter valued at about $144,000. 90.94% of the stock is owned by institutional investors.

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.