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

Shares of PHINIA Inc. (NYSE:PHIN) have been assigned an average rating of “Moderate Buy” from the ten brokerages that are presently covering the firm, MarketBeat.com reports. Six analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $74.8333.

A number of equities research analysts have recently commented on the company. Weiss Ratings cut PHINIA from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, June 23rd. KeyCorp began coverage on shares of PHINIA in a research report on Friday, June 12th. They set an “overweight” rating and a $105.00 price target for the company. Wall Street Zen upgraded shares of PHINIA from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 2nd. Finally, Zacks Research lowered shares of PHINIA from a “strong-buy” rating to a “hold” rating in a research report on Tuesday.

PHINIA Stock Performance

Shares of PHIN opened at $75.58 on Friday. The stock has a 50 day moving average of $78.29 and a 200 day moving average of $72.10. The company has a market capitalization of $2.80 billion, a price-to-earnings ratio of 21.11 and a beta of 1.13. PHINIA has a 12 month low of $46.70 and a 12 month high of $86.93. The company has a current ratio of 1.82, a quick ratio of 1.32 and a debt-to-equity ratio of 0.62.

PHINIA (NYSE:PHIN) last posted its quarterly earnings data on Thursday, April 30th. The company reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.16. The business had revenue of $878.00 million for the quarter, compared to analysts’ expectations of $838.67 million. PHINIA had a return on equity of 13.23% and a net margin of 3.96%.The business’s revenue was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.94 earnings per share. As a group, sell-side analysts forecast that PHINIA will post 6.24 earnings per share for the current year.

PHINIA Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 23rd. Stockholders of record on Tuesday, June 9th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Tuesday, June 9th. PHINIA’s dividend payout ratio is currently 33.52%.

Insider Activity at PHINIA

In other news, VP Samantha Pombier sold 2,227 shares of the firm’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $82.36, for a total transaction of $183,415.72. Following the completion of the sale, the vice president owned 6,637 shares in the company, valued at $546,623.32. This trade represents a 25.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Michael Coetzee sold 1,250 shares of PHINIA stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $80.61, for a total transaction of $100,762.50. Following the completion of the sale, the vice president directly owned 27,009 shares in the company, valued at $2,177,195.49. This trade represents a 4.42% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Royal Bank of Canada grew its stake in shares of 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 acquiring an additional 62,333 shares during the period. AQR Capital Management LLC raised its stake in PHINIA by 62.3% in the 1st quarter. AQR Capital Management LLC now owns 22,343 shares of the company’s stock valued at $938,000 after acquiring an additional 8,576 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in PHINIA by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,891 shares of the company’s stock valued at $1,056,000 after acquiring an additional 1,093 shares during the period. Goldman Sachs Group Inc. lifted its holdings in PHINIA by 6.4% during 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 holdings 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 valued at $4,000,000 after purchasing an additional 6,478 shares during the last quarter. Hedge funds and other 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.