PHINIA Inc. (NYSE:PHIN) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of PHINIA Inc. (NYSE:PHIN) have earned an average rating of “Moderate Buy” from the seven brokerages that are presently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $52.33.

PHIN has been the subject of several recent analyst reports. CL King initiated coverage on shares of PHINIA in a research report on Monday, March 24th. They set a “buy” rating and a $54.00 price objective for the company. BNP Paribas downgraded shares of PHINIA from an “outperform” rating to a “neutral” rating and set a $46.00 price objective for the company. in a research report on Wednesday, April 23rd. Morgan Stanley reduced their price objective on shares of PHINIA from $50.00 to $46.00 and set an “equal weight” rating for the company in a research report on Monday, May 19th. Bank of America raised their price objective on shares of PHINIA from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday, May 15th. Finally, UBS Group increased their target price on PHINIA from $48.00 to $52.00 and gave the stock a “neutral” rating in a report on Monday, July 14th.

Insider Buying and Selling at PHINIA

In related news, CEO Brady D. Ericson acquired 10,000 shares of the company’s stock in a transaction on Wednesday, April 30th. The shares were acquired at an average cost of $39.73 per share, for a total transaction of $397,300.00. Following the purchase, the chief executive officer owned 436,486 shares in the company, valued at approximately $17,341,588.78. The trade was a 2.34% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Meggan M. Walsh acquired 1,400 shares of the company’s stock in a transaction on Thursday, May 22nd. The shares were bought at an average price of $42.71 per share, for a total transaction of $59,794.00. Following the completion of the purchase, the director owned 7,492 shares in the company, valued at approximately $319,983.32. This represents a 22.98% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 11,423 shares of company stock worth $458,069. Company insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On PHINIA

A number of hedge funds have recently made changes to their positions in the business. SummerHaven Investment Management LLC increased its holdings in PHINIA by 1.8% in the 2nd quarter. SummerHaven Investment Management LLC now owns 19,275 shares of the company’s stock worth $858,000 after acquiring an additional 340 shares during the last quarter. ABS Direct Equity Fund LLC increased its holdings in PHINIA by 16.7% in the 2nd quarter. ABS Direct Equity Fund LLC now owns 70,000 shares of the company’s stock worth $3,114,000 after acquiring an additional 10,000 shares during the last quarter. State of Alaska Department of Revenue increased its holdings in PHINIA by 4.9% in the 2nd quarter. State of Alaska Department of Revenue now owns 23,723 shares of the company’s stock worth $1,055,000 after acquiring an additional 1,108 shares during the last quarter. Banyan Capital Management Inc. increased its holdings in PHINIA by 4.3% in the 2nd quarter. Banyan Capital Management Inc. now owns 252,856 shares of the company’s stock worth $11,250,000 after acquiring an additional 10,382 shares during the last quarter. Finally, CHICAGO TRUST Co NA increased its holdings in PHINIA by 10.8% in the 2nd quarter. CHICAGO TRUST Co NA now owns 10,286 shares of the company’s stock worth $458,000 after acquiring an additional 1,000 shares during the last quarter. 90.94% of the stock is currently owned by institutional investors.

PHINIA Stock Down 0.1%

Shares of NYSE PHIN opened at $48.33 on Friday. The company has a current ratio of 1.85, a quick ratio of 1.36 and a debt-to-equity ratio of 0.63. The company has a market cap of $1.92 billion, a price-to-earnings ratio of 27.46, a PEG ratio of 0.52 and a beta of 1.49. PHINIA has a 12 month low of $36.25 and a 12 month high of $57.23. The stock has a 50-day moving average price of $44.63 and a two-hundred day moving average price of $45.29.

PHINIA (NYSE:PHIN) last issued its earnings results on Friday, April 25th. The company reported $0.94 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.10). PHINIA had a return on equity of 9.88% and a net margin of 2.28%. The business had revenue of $796.00 million for the quarter, compared to analyst estimates of $813.24 million. During the same period in the previous year, the firm posted $1.08 EPS. The firm’s revenue was down 7.8% compared to the same quarter last year. As a group, analysts forecast that PHINIA will post 4.21 earnings per share for the current fiscal year.

PHINIA Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 2.23%. The ex-dividend date of this dividend was Monday, June 2nd. PHINIA’s dividend payout ratio (DPR) is presently 61.36%.

PHINIA Company Profile

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.