PHINIA (NYSE:PHIN) Rating Lowered to Hold at Freedom Capital

PHINIA (NYSE:PHIN) was downgraded by equities research analysts at Freedom Capital from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Thursday,Zacks.com reports.

Several other equities analysts also recently weighed in on the stock. Northland Securities set a $93.00 price target on shares of PHINIA in a research note on Friday, February 13th. Wall Street Zen raised shares of PHINIA from a “buy” rating to a “strong-buy” rating in a research note on Sunday, February 22nd. UBS Group restated a “neutral” rating and issued a $76.00 price target on shares of PHINIA in a research report on Friday, February 13th. Zacks Research raised PHINIA from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 31st. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of PHINIA in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, PHINIA currently has an average rating of “Moderate Buy” and a consensus price target of $66.33.

PHINIA Price Performance

Shares of PHIN traded down $1.59 during trading hours on Thursday, hitting $72.54. 543,282 shares of the stock were exchanged, compared to its average volume of 479,518. The stock’s 50-day moving average price is $69.86 and its two-hundred day moving average price is $60.62. PHINIA has a 12-month low of $36.25 and a 12-month high of $81.11. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.36 and a current ratio of 1.86. The company has a market cap of $2.75 billion, a price-to-earnings ratio of 22.32 and a beta of 1.37.

PHINIA (NYSE:PHIN) last announced its quarterly earnings data on Thursday, February 12th. The company reported $1.18 earnings per share 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 analysts’ expectations of $843.59 million. During the same quarter in the previous year, the business posted $0.71 EPS. The company’s revenue for the quarter was up 6.7% on a year-over-year basis. Research analysts expect that PHINIA will post 4.21 earnings per share for the current year.

Institutional Investors Weigh In On PHINIA

A number of institutional investors have recently made changes to their positions in the stock. Larson Financial Group LLC lifted its holdings in shares of PHINIA by 151.5% in the 4th quarter. Larson Financial Group LLC now owns 425 shares of the company’s stock worth $27,000 after acquiring an additional 256 shares during the last quarter. Federation des caisses Desjardins du Quebec raised its position in PHINIA by 2,500.0% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 780 shares of the company’s stock valued at $49,000 after purchasing an additional 750 shares during the period. EverSource Wealth Advisors LLC lifted its stake in PHINIA by 34.4% during the third quarter. EverSource Wealth Advisors LLC now owns 868 shares of the company’s stock worth $50,000 after purchasing an additional 222 shares in the last quarter. EMC Capital Management purchased a new position in shares of PHINIA during the second quarter worth $39,000. Finally, TD Waterhouse Canada Inc. boosted its position in shares of PHINIA by 350.0% during the second quarter. TD Waterhouse Canada Inc. now owns 900 shares of the company’s stock worth $42,000 after buying an additional 700 shares during the period. 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.