PHINIA (NYSE:PHIN) Cut to “Hold” at Freedom Capital

Freedom Capital downgraded shares of PHINIA (NYSE:PHIN) from a strong-buy rating to a hold rating in a report published on Thursday,Zacks.com reports.

Several other equities analysts also recently issued reports on the company. UBS Group reiterated a “neutral” rating and issued a $76.00 price objective on shares of PHINIA in a research report on Friday, February 13th. Wall Street Zen upgraded shares of PHINIA from a “buy” rating to a “strong-buy” rating in a research report on Sunday, February 22nd. BNP Paribas Exane upgraded shares of PHINIA from a “neutral” rating to an “outperform” rating and set a $63.00 price objective for the company in a research report on Monday, November 3rd. Zacks Research raised shares of PHINIA from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 31st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of PHINIA in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $66.33.

PHINIA Stock Down 2.2%

Shares of PHINIA stock opened at $72.54 on Thursday. The firm has a market cap of $2.75 billion, a price-to-earnings ratio of 22.32 and a beta of 1.37. The stock has a 50-day simple moving average of $69.86 and a 200-day simple moving average of $60.66. PHINIA has a 52-week low of $36.25 and a 52-week high of $81.11. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.86 and a quick ratio of 1.36.

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

PHINIA Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Friday, March 6th will be paid a $0.30 dividend. This is a boost from PHINIA’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Friday, March 6th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.7%. PHINIA’s dividend payout ratio (DPR) is currently 33.23%.

Hedge Funds Weigh In On PHINIA

Several institutional investors and hedge funds have recently modified their holdings of PHIN. Invesco Ltd. raised its position in shares of PHINIA by 8.3% in the fourth quarter. Invesco Ltd. now owns 469,567 shares of the company’s stock valued at $29,437,000 after buying an additional 35,835 shares in the last quarter. Vident Advisory LLC raised its holdings in PHINIA by 6.9% in the 4th quarter. Vident Advisory LLC now owns 11,286 shares of the company’s stock valued at $708,000 after acquiring an additional 733 shares in the last quarter. EP Wealth Advisors LLC bought a new stake in shares of PHINIA during the 4th quarter valued at $253,000. XTX Topco Ltd acquired a new stake in shares of PHINIA during the 4th quarter worth $1,015,000. Finally, Wellington Management Group LLP grew its holdings in shares of PHINIA by 0.8% during the 4th quarter. Wellington Management Group LLP now owns 367,128 shares of the company’s stock worth $23,015,000 after purchasing an additional 3,039 shares in the last quarter. 90.94% of the stock is currently owned by institutional investors and hedge funds.

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.