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

PHINIA Inc. (NYSE:PHIN) has been given a consensus rating of “Moderate Buy” by the ten research firms that are covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $66.3333.

PHIN has been the subject of a number of analyst reports. UBS Group reissued a “neutral” rating and set a $76.00 target price on shares of PHINIA in a research note on Friday, February 13th. Zacks Research raised shares of PHINIA from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 31st. Freedom Capital downgraded shares of PHINIA from a “strong-buy” rating to a “hold” rating in a research report on Thursday. Wall Street Zen raised PHINIA from a “buy” rating to a “strong-buy” rating in a report on Sunday, February 22nd. Finally, Northland Securities set a $93.00 price target on PHINIA in a research note on Friday, February 13th.

Hedge Funds Weigh In On PHINIA

Institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada increased its position in PHINIA by 464.8% during the 1st quarter. Royal Bank of Canada now owns 75,745 shares of the company’s stock worth $3,214,000 after purchasing an additional 62,333 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of PHINIA by 62.3% during the 1st quarter. AQR Capital Management LLC now owns 22,343 shares of the company’s stock worth $938,000 after purchasing an additional 8,576 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of PHINIA by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,891 shares of the company’s stock worth $1,056,000 after purchasing an additional 1,093 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in PHINIA by 6.4% in the first quarter. Goldman Sachs Group Inc. now owns 977,177 shares of the company’s stock valued at $41,462,000 after purchasing an additional 58,875 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in PHINIA by 7.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 94,270 shares of the company’s stock worth $4,000,000 after buying an additional 6,478 shares during the period. 90.94% of the stock is owned by institutional investors and hedge funds.

PHINIA Stock Down 2.2%

Shares of PHINIA stock opened at $72.54 on Friday. PHINIA has a one year low of $36.25 and a one year high of $81.11. The company has a market cap of $2.75 billion, a P/E ratio of 22.32 and a beta of 1.37. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.36 and a current ratio of 1.86. The firm has a fifty day moving average of $69.86 and a two-hundred day moving average of $60.66.

PHINIA (NYSE:PHIN) last issued its quarterly earnings results on Thursday, February 12th. The company reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.17). The firm had revenue of $889.00 million for the quarter, compared to analyst estimates of $843.59 million. PHINIA had a return on equity of 12.56% and a net margin of 3.73%.The company’s revenue was up 6.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.71 earnings per share. On average, analysts forecast that PHINIA will post 4.21 earnings per share for the current year.

PHINIA Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, March 6th will be given a dividend of $0.30 per share. The ex-dividend date is Friday, March 6th. This represents a $1.20 annualized dividend and a dividend yield of 1.7%. This is an increase from PHINIA’s previous quarterly dividend of $0.27. PHINIA’s payout ratio is presently 33.23%.

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. 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.