PHINIA (NYSE:PHIN) Upgraded to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of PHINIA (NYSE:PHIN) from a buy rating to a strong-buy rating in a research report report published on Saturday.

Several other brokerages also recently commented on PHIN. Zacks Research upgraded shares of PHINIA from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 31st. BNP Paribas Exane raised shares of PHINIA from a “neutral” rating to an “outperform” rating and set a $63.00 price target for the company in a report on Monday, November 3rd. Northland Securities boosted their price target on shares of PHINIA from $65.00 to $79.00 and gave the company an “outperform” rating in a research report on Tuesday, December 30th. Citigroup reaffirmed a “neutral” rating on shares of PHINIA in a research note on Tuesday, October 14th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of PHINIA in a research note on Monday, December 29th. Three analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $59.00.

PHINIA Stock Up 1.9%

NYSE PHIN opened at $69.26 on Friday. The company has a current ratio of 1.72, a quick ratio of 1.25 and a debt-to-equity ratio of 0.61. The stock’s 50 day moving average is $57.59 and its two-hundred day moving average is $54.93. The company has a market capitalization of $2.66 billion, a price-to-earnings ratio of 31.20 and a beta of 1.37. PHINIA has a 1-year low of $36.25 and a 1-year high of $69.32.

PHINIA (NYSE:PHIN) last issued its earnings results on Tuesday, October 28th. The company reported $1.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.42. PHINIA had a return on equity of 11.64% and a net margin of 2.63%.The business had revenue of $908.00 million during the quarter, compared to analysts’ expectations of $861.57 million. During the same period in the prior year, the firm posted $1.17 EPS. PHINIA’s quarterly revenue was up 8.2% compared to the same quarter last year. Equities analysts forecast that PHINIA will post 4.21 earnings per share for the current fiscal year.

PHINIA Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 12th. Shareholders of record on Monday, November 24th were paid a $0.27 dividend. The ex-dividend date of this dividend was Monday, November 24th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.6%. PHINIA’s payout ratio is currently 48.65%.

Insider Buying and Selling

In other news, VP Samantha Pombier sold 1,940 shares of the company’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $54.14, for a total transaction of $105,031.60. Following the transaction, the vice president directly owned 8,869 shares in the company, valued at approximately $480,167.66. This represents a 17.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Hongyong Yang sold 893 shares of the firm’s stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $52.43, for a total transaction of $46,819.99. Additional details regarding this sale are available in the official SEC disclosure. 2.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PHINIA

Several hedge funds and other institutional investors have recently made changes to their positions in the company. EMC Capital Management acquired a new position in shares of PHINIA during the second quarter valued at $39,000. TD Waterhouse Canada Inc. lifted its position in PHINIA by 350.0% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 900 shares of the company’s stock valued at $42,000 after purchasing an additional 700 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of PHINIA by 34.4% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 868 shares of the company’s stock valued at $50,000 after purchasing an additional 222 shares during the last quarter. MAI Capital Management grew its position in shares of PHINIA by 845.4% during the 3rd quarter. MAI Capital Management now owns 917 shares of the company’s stock worth $53,000 after buying an additional 820 shares during the period. Finally, State of Wyoming acquired a new stake in shares of PHINIA during the 2nd quarter worth approximately $60,000. 90.94% of the stock is 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.