PHINIA (NYSE:PHIN) Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of PHINIA (NYSE:PHIN) from a buy rating to a hold rating in a research note published on Saturday morning,Wall Street Zen reports.

A number of other brokerages also recently commented on PHIN. Northland Securities set a $98.00 price objective on PHINIA in a research report on Friday, July 31st. Zacks Research raised shares of PHINIA from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 29th. Weiss Ratings cut shares of PHINIA from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, September 16th. KeyCorp started coverage on shares of PHINIA in a research note on Friday, June 12th. They issued an “overweight” rating and a $105.00 price target for the company. Finally, UBS Group decreased their price target on shares of PHINIA from $80.00 to $68.00 and set a “neutral” rating for the company in a research note on Wednesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, PHINIA has a consensus rating of “Moderate Buy” and a consensus price target of $83.50.

PHINIA Trading Down 2.4%

NYSE:PHIN opened at $56.46 on Friday. PHINIA has a 12-month low of $50.79 and a 12-month high of $86.93. The firm has a market cap of $2.07 billion, a PE ratio of 16.18 and a beta of 1.19. The company has a current ratio of 1.81, a quick ratio of 1.34 and a debt-to-equity ratio of 0.63. The stock has a fifty day moving average price of $66.68 and a 200 day moving average price of $73.05.

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

PHINIA Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Friday, September 4th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.1%. The ex-dividend date was Friday, September 4th. PHINIA’s dividend payout ratio (DPR) is currently 34.38%.

Insider Activity at PHINIA

In other news, CEO Brady D. Ericson sold 27,860 shares of the business’s stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $68.39, for a total value of $1,905,345.40. Following the completion of the sale, the chief executive officer directly owned 330,497 shares of the company’s stock, valued at approximately $22,602,689.83. The trade was a 7.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Robert Boyle sold 7,500 shares of the business’s stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $62.12, for a total value of $465,900.00. Following the completion of the sale, the senior vice president directly owned 25,317 shares of the company’s stock, valued at $1,572,692.04. The trade was a 22.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 55,270 shares of company stock valued at $3,698,592. Corporate insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Nykredit A S acquired a new position in PHINIA in the 2nd quarter valued at about $38,000. Integrated Wealth Concepts LLC purchased a new stake in PHINIA during the 2nd quarter valued at approximately $39,000. EverSource Wealth Advisors LLC raised its stake in PHINIA by 49.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,132 shares of the company’s stock valued at $77,000 after acquiring an additional 376 shares during the last quarter. C M Bidwell & Associates Ltd. acquired a new stake in PHINIA during the 2nd quarter worth approximately $84,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in PHINIA during the 2nd quarter worth approximately $104,000. Hedge funds and other institutional investors own 90.94% of the company’s stock.

About PHINIA

PHINIA Inc (NYSE: PHIN) is a global automotive technology company that develops and manufactures fuel systems, electrical systems and electrification components for commercial vehicles, passenger vehicles and other mobility applications. The company serves original equipment manufacturers as well as the automotive aftermarket.

PHINIA’s products include gasoline and diesel fuel-injection systems, fuel pumps and modules, injectors, ignition coils, glow plugs, alternators and starters. Its electrification portfolio includes components such as high-voltage systems, battery-related technologies and power-conversion products designed to support hybrid and electric vehicles.

The company also supplies replacement parts and service solutions through its aftermarket business, including products marketed under the Delphi brand.