PHINIA (NYSE:PHIN) Cut to Buy at Wall Street Zen

Wall Street Zen downgraded shares of PHINIA (NYSE:PHIN) from a strong-buy rating to a buy rating in a report released on Saturday morning.

Several other equities research analysts also recently issued reports on the company. UBS Group decreased their price target on PHINIA from $62.00 to $59.00 and set a “neutral” rating for the company in a report on Wednesday, October 29th. Bank of America lifted their price objective on shares of PHINIA from $60.00 to $64.00 and gave the stock a “buy” rating in a report on Wednesday, September 10th. Citigroup reiterated a “neutral” rating on shares of PHINIA in a report on Tuesday, October 14th. Weiss Ratings reissued a “hold (c)” rating on shares of PHINIA in a research report on Monday, December 15th. Finally, BNP Paribas upgraded shares of PHINIA from a “hold” rating to a “strong-buy” rating in a report on Monday, November 3rd. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $56.43.

PHINIA Trading Up 0.8%

PHIN opened at $60.99 on Friday. PHINIA has a fifty-two week low of $36.25 and a fifty-two week high of $61.75. The firm has a market capitalization of $2.34 billion, a PE ratio of 27.47 and a beta of 1.43. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.72 and a quick ratio of 1.25. The company’s 50-day moving average is $54.60 and its 200 day moving average is $52.93.

PHINIA (NYSE:PHIN) last released its quarterly earnings results on Tuesday, October 28th. The company reported $1.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.42. The business had revenue of $908.00 million during the quarter, compared to the consensus estimate of $861.57 million. PHINIA had a return on equity of 11.64% and a net margin of 2.63%.The company’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.17 EPS. As a group, research analysts predict that PHINIA will post 4.21 earnings per share for the current fiscal year.

PHINIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 12th. Shareholders of record on Monday, November 24th were given a $0.27 dividend. The ex-dividend date of this dividend was Monday, November 24th. This represents a $1.08 annualized dividend and a yield of 1.8%. PHINIA’s payout ratio is currently 48.65%.

Insider Transactions at PHINIA

In other PHINIA news, VP Hongyong Yang sold 893 shares of the business’s stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $52.43, for a total value of $46,819.99. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Samantha Pombier sold 1,940 shares of the firm’s stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $54.14, for a total transaction of $105,031.60. Following the sale, the vice president owned 8,869 shares of the company’s stock, valued at approximately $480,167.66. The trade was a 17.95% decrease in their position. The disclosure for this sale is available in the SEC filing. 2.00% of the stock is owned by insiders.

Institutional Trading of PHINIA

Hedge funds have recently made changes to their positions in the company. Rock Creek Group LP grew its stake in PHINIA by 16.8% during the second quarter. Rock Creek Group LP now owns 40,891 shares of the company’s stock valued at $1,819,000 after acquiring an additional 5,891 shares in the last quarter. ABS Direct Equity Fund LLC lifted its stake in PHINIA by 16.7% in the 2nd quarter. ABS Direct Equity Fund LLC now owns 70,000 shares of the company’s stock worth $3,114,000 after purchasing an additional 10,000 shares in the last quarter. Aristides Capital LLC bought a new position in PHINIA in the 2nd quarter valued at $246,000. Envestnet Portfolio Solutions Inc. purchased a new position in shares of PHINIA during the 2nd quarter valued at $581,000. Finally, First Citizens Bank & Trust Co. purchased a new position in shares of PHINIA during the 2nd quarter valued at $592,000. 90.94% of the stock is currently owned by institutional investors.

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.