PHINIA (NYSE:PHIN) Sets New 52-Week High – Should You Buy?

Shares of PHINIA Inc. (NYSE:PHIN) reached a new 52-week high on Wednesday . The company traded as high as $61.86 and last traded at $61.1970, with a volume of 364918 shares trading hands. The stock had previously closed at $61.04.

Analysts Set New Price Targets

PHIN has been the topic of a number of recent analyst reports. Bank of America raised their target price on shares of PHINIA from $60.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, September 10th. Weiss Ratings restated a “hold (c)” rating on shares of PHINIA in a research note on Monday. UBS Group dropped their target price on shares of PHINIA from $62.00 to $59.00 and set a “neutral” rating for the company in a report on Wednesday, October 29th. Citigroup reissued a “neutral” rating on shares of PHINIA in a report on Tuesday, October 14th. Finally, Wall Street Zen lowered PHINIA from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 20th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.43.

PHINIA Trading Up 0.3%

The company has a 50-day moving average price of $55.09 and a two-hundred day moving average price of $53.18. The stock has a market cap of $2.36 billion, a P/E ratio of 27.62 and a beta of 1.44. The company has a current ratio of 1.72, a quick ratio of 1.25 and a debt-to-equity ratio of 0.61.

PHINIA (NYSE:PHIN) last issued its quarterly earnings results on Tuesday, October 28th. The company reported $1.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.42. PHINIA had a return on equity of 11.64% and a net margin of 2.63%.The company had revenue of $908.00 million during the quarter, compared to the consensus estimate of $861.57 million. During the same period last year, the company earned $1.17 earnings per share. PHINIA’s revenue was up 8.2% on a year-over-year basis. On average, research analysts expect that PHINIA Inc. will post 4.21 EPS for the current fiscal year.

PHINIA Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 12th. Investors of record on Monday, November 24th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.8%. The ex-dividend date was Monday, November 24th. PHINIA’s dividend payout ratio is presently 48.65%.

Insider Transactions at PHINIA

In other news, VP Hongyong Yang sold 893 shares of the stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $52.43, for a total value of $46,819.99. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Samantha Pombier sold 1,940 shares of the firm’s stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $54.14, for a total value of $105,031.60. Following the sale, the vice president directly owned 8,869 shares of the company’s stock, valued at $480,167.66. This represents a 17.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 2.00% of the company’s stock.

Institutional Trading of PHINIA

Several institutional investors and hedge funds have recently modified their holdings of the stock. UBS Group AG grew its stake in PHINIA by 222.9% in the third quarter. UBS Group AG now owns 466,053 shares of the company’s stock worth $26,789,000 after purchasing an additional 321,708 shares in the last quarter. Voss Capital LP grew its position in shares of PHINIA by 10.8% during the 2nd quarter. Voss Capital LP now owns 2,290,000 shares of the company’s stock worth $101,882,000 after buying an additional 222,658 shares in the last quarter. Teacher Retirement System of Texas increased its stake in shares of PHINIA by 92.2% during the third quarter. Teacher Retirement System of Texas now owns 416,328 shares of the company’s stock valued at $23,931,000 after buying an additional 199,756 shares during the period. LSV Asset Management increased its stake in shares of PHINIA by 19.4% during the second quarter. LSV Asset Management now owns 1,199,218 shares of the company’s stock valued at $53,353,000 after buying an additional 194,627 shares during the period. Finally, Heartland Advisors Inc. raised its holdings in shares of PHINIA by 157.0% in the third quarter. Heartland Advisors Inc. now owns 257,018 shares of the company’s stock valued at $14,773,000 after acquiring an additional 157,018 shares in the last quarter. Institutional investors own 90.94% of the company’s stock.

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. The Fuel Systems segment provides advanced fuel injection systems, including pumps, injectors, fuel rail assemblies, and engine control modules; fuel delivery modules; canisters; sensors; and electronic control modules.