PHINIA (NYSE:PHIN) Cut to “Hold” at Zacks Research

Zacks Research downgraded shares of PHINIA (NYSE:PHIN) from a strong-buy rating to a hold rating in a research note issued to investors on Tuesday morning,Zacks.com reports.

PHIN has been the subject of a number of other reports. Wall Street Zen raised PHINIA from a “buy” rating to a “strong-buy” rating in a research report on Sunday, February 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of PHINIA in a research note on Monday, December 29th. Northland Securities set a $93.00 price objective on PHINIA in a report on Friday, February 13th. UBS Group restated a “neutral” rating and set a $76.00 target price on shares of PHINIA in a research report on Friday, February 13th. Finally, Freedom Capital cut shares of PHINIA from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 26th. Three investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $68.80.

PHINIA Price Performance

Shares of NYSE:PHIN opened at $69.92 on Tuesday. PHINIA has a 12 month low of $38.44 and a 12 month high of $81.11. The firm has a market capitalization of $2.63 billion, a P/E ratio of 21.51 and a beta of 1.36. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.86 and a quick ratio of 1.36. The company’s fifty day moving average price is $70.50 and its 200 day moving average price is $63.07.

PHINIA (NYSE:PHIN) last released its quarterly earnings data on Thursday, February 12th. The company reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by ($0.17). PHINIA had a net margin of 3.73% and a return on equity of 12.56%. The company had revenue of $889.00 million during the quarter, compared to analyst estimates of $843.59 million. During the same quarter in the prior year, the company earned $0.71 EPS. The business’s revenue was up 6.7% on a year-over-year basis. As a group, sell-side analysts predict that PHINIA will post 4.21 earnings per share for the current fiscal year.

PHINIA Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 20th. Shareholders of record on Friday, March 6th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, March 6th. This represents a $1.20 annualized dividend and a yield of 1.7%. This is a boost from PHINIA’s previous quarterly dividend of $0.27. PHINIA’s dividend payout ratio (DPR) is currently 36.92%.

Insider Buying and Selling

In other news, VP Christopher Gustanski sold 3,812 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $72.73, for a total transaction of $277,246.76. Following the completion of the sale, the vice president owned 14,871 shares in the company, valued at $1,081,567.83. This represents a 20.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Neil Fryer sold 624 shares of the stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $72.75, for a total value of $45,396.00. Following the sale, the vice president directly owned 18,180 shares of the company’s stock, valued at approximately $1,322,595. This represents a 3.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On PHINIA

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of PHINIA by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 4,510,133 shares of the company’s stock worth $282,740,000 after acquiring an additional 44,599 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of PHINIA by 2.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,301,996 shares of the company’s stock worth $144,314,000 after acquiring an additional 45,214 shares during the period. Voss Capital LP raised its holdings in PHINIA by 2.8% during the fourth quarter. Voss Capital LP now owns 1,727,468 shares of the company’s stock worth $108,295,000 after purchasing an additional 47,468 shares in the last quarter. American Century Companies Inc. raised its holdings in PHINIA by 4.7% during the third quarter. American Century Companies Inc. now owns 1,641,916 shares of the company’s stock worth $94,377,000 after purchasing an additional 74,430 shares in the last quarter. Finally, LSV Asset Management lifted its position in PHINIA by 13.8% in the third quarter. LSV Asset Management now owns 1,364,534 shares of the company’s stock valued at $78,433,000 after purchasing an additional 165,316 shares during the period. Hedge funds and other institutional investors 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. 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.