PHINIA (NYSE:PHIN) Downgraded to “Hold” Rating by Wall Street Zen

Wall Street Zen downgraded shares of PHINIA (NYSE:PHIN) from a buy rating to a hold rating in a research note released on Sunday,Wall Street Zen reports.

A number of other research firms have also recently weighed in on PHIN. Northland Securities set a $98.00 price target on PHINIA in a report on Friday, July 31st. UBS Group dropped their price objective on shares of PHINIA from $81.00 to $80.00 and set a “neutral” rating on the stock in a research note on Friday, July 31st. KeyCorp initiated coverage on shares of PHINIA in a research report on Friday, June 12th. They set an “overweight” rating and a $105.00 target price on the stock. Weiss Ratings raised shares of PHINIA from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, September 1st. Finally, Zacks Research downgraded shares of PHINIA from a “hold” rating to a “strong sell” rating in a research note on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $82.00.

PHINIA Trading Up 0.1%

NYSE:PHIN opened at $69.12 on Friday. The business’s 50-day moving average is $75.49 and its two-hundred day moving average is $74.55. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.81 and a quick ratio of 1.34. PHINIA has a 12 month low of $50.79 and a 12 month high of $86.93. The firm has a market capitalization of $2.53 billion, a PE ratio of 19.81 and a beta of 1.14.

PHINIA (NYSE:PHIN) last issued its quarterly earnings data on Thursday, July 30th. The company reported $1.53 EPS for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.04). PHINIA had a return on equity of 13.86% and a net margin of 3.73%.The company had revenue of $940.00 million for the quarter, compared to analyst estimates of $918.83 million. Research analysts predict that PHINIA will post 6.18 earnings per share for the current fiscal year.

PHINIA Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $1.20 annualized dividend and a yield of 1.7%. PHINIA’s dividend payout ratio is currently 34.38%.

Insider Buying and Selling at PHINIA

In other news, VP Samantha Pombier sold 2,227 shares of the business’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $82.36, for a total value of $183,415.72. Following the completion of the sale, the vice president owned 6,637 shares of the company’s stock, valued at approximately $546,623.32. The trade was a 25.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brady D. Ericson sold 27,860 shares of the company’s stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $68.39, for a total transaction of $1,905,345.40. Following the completion of the sale, the chief executive officer owned 330,497 shares in the company, valued at approximately $22,602,689.83. This trade represents a 7.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 31,337 shares of company stock worth $2,189,524 in the last ninety days. 2.20% of the stock is owned by insiders.

Institutional Trading of PHINIA

A number of institutional investors and hedge funds have recently modified their holdings of PHIN. Larson Financial Group LLC grew its position in shares of PHINIA by 151.5% during the 4th quarter. Larson Financial Group LLC now owns 425 shares of the company’s stock valued at $27,000 after buying an additional 256 shares during the last quarter. Nykredit A S bought a new position in PHINIA in the second quarter worth about $38,000. Federation des caisses Desjardins du Quebec boosted its stake 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 acquiring an additional 750 shares during the period. State of Wyoming acquired a new position in PHINIA in the second quarter valued at approximately $60,000. Finally, Hantz Financial Services Inc. grew its holdings in shares of PHINIA by 76.7% during the fourth quarter. Hantz Financial Services Inc. now owns 979 shares of the company’s stock valued at $61,000 after purchasing an additional 425 shares during the last quarter. 90.94% of the stock is owned by institutional investors and hedge funds.

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.