Shares of PHINIA Inc. (NYSE:PHIN – Get Free Report) hit a new 52-week high during trading on Monday . The company traded as high as $42.48 and last traded at $42.48, with a volume of 110311 shares changing hands. The stock had previously closed at $41.08.
Wall Street Analysts Forecast Growth
Separately, Morgan Stanley started coverage on shares of PHINIA in a report on Monday, March 11th. They set an “overweight” rating and a $50.00 price objective for the company.
Check Out Our Latest Research Report on PHINIA
PHINIA Trading Up 3.0 %
PHINIA (NYSE:PHIN – Get Free Report) last announced its earnings results on Thursday, April 25th. The company reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.34. The business had revenue of $863.00 million during the quarter, compared to analysts’ expectations of $800.00 million. PHINIA had a net margin of 3.06% and a return on equity of 7.52%. PHINIA’s revenue was up 3.4% compared to the same quarter last year. On average, research analysts anticipate that PHINIA Inc. will post 4.05 earnings per share for the current fiscal year.
Institutional Investors Weigh In On PHINIA
A number of large investors have recently made changes to their positions in the company. Commonwealth Equity Services LLC acquired a new stake in PHINIA in the third quarter worth $407,000. Maryland State Retirement & Pension System acquired a new position in PHINIA during the third quarter worth about $559,000. Bank of New York Mellon Corp bought a new position in PHINIA in the 3rd quarter valued at approximately $8,709,000. New York State Teachers Retirement System bought a new stake in shares of PHINIA in the 3rd quarter valued at $2,004,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in PHINIA in the third quarter worth $217,000. Institutional investors and hedge funds 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.
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