PHINIA (NYSE:PHIN) Given New $69.00 Price Target at UBS Group

PHINIA (NYSE:PHIN) had its price target boosted by UBS Group from $68.00 to $69.00 in a report published on Friday,Benzinga reports. They currently have a neutral rating on the stock.

Other equities analysts have also recently issued reports about the company. Northland Securities set a $98.00 price target on PHINIA in a research report on Friday, July 31st. Zacks Research upgraded PHINIA from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 29th. Wall Street Zen cut PHINIA from a “buy” rating to a “hold” rating in a research note on Saturday, October 10th. Finally, Weiss Ratings lowered PHINIA from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, September 16th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.75.

PHINIA Trading Down 0.2%

PHINIA stock opened at $62.78 on Friday. PHINIA has a 12-month low of $51.28 and a 12-month high of $86.93. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.70 and a quick ratio of 1.28. The stock has a market capitalization of $2.30 billion, a PE ratio of 12.66 and a beta of 1.19. The firm has a 50 day simple moving average of $62.07 and a 200-day simple moving average of $71.32.

PHINIA (NYSE:PHIN) last announced its earnings results on Thursday, October 29th. The company reported $1.83 EPS for the quarter, topping the consensus estimate of $1.68 by $0.15. The firm had revenue of $912.00 million for the quarter, compared to analysts’ expectations of $928.21 million. PHINIA had a return on equity of 14.32% and a net margin of 5.22%. As a group, equities research analysts expect that PHINIA will post 6.25 EPS for the current fiscal year.

PHINIA Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 18th. Shareholders of record on Friday, September 4th were given a $0.30 dividend. The ex-dividend date was Friday, September 4th. This represents a $1.20 annualized dividend and a yield of 1.9%. PHINIA’s payout ratio is 24.19%.

Insider Buying and Selling

In other news, SVP Robert Boyle sold 7,500 shares of the firm’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $62.12, for a total transaction 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. This trade represents a 22.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Brady D. Ericson sold 27,860 shares of the firm’s stock in a transaction that occurred on Monday, August 31st. The shares were 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 in the company, valued at $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 55,270 shares of company stock valued at $3,698,592 in the last three months. Insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On PHINIA

Hedge funds and other institutional investors have recently bought and sold shares of the business. Baron Wealth Management LLC raised its position in shares of PHINIA by 3.7% during the 2nd quarter. Baron Wealth Management LLC now owns 4,542 shares of the company’s stock valued at $374,000 after acquiring an additional 160 shares during the last quarter. Signaturefd LLC grew its stake in shares of PHINIA by 29.5% during the third quarter. Signaturefd LLC now owns 1,023 shares of the company’s stock worth $61,000 after purchasing an additional 233 shares during the period. Teachers Retirement System of The State of Kentucky grew its stake in shares of PHINIA by 3.8% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 9,640 shares of the company’s stock worth $659,000 after purchasing an additional 350 shares during the period. Nisa Investment Advisors LLC increased its holdings in PHINIA by 2.1% in the third quarter. Nisa Investment Advisors LLC now owns 18,143 shares of the company’s stock valued at $1,078,000 after purchasing an additional 370 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in PHINIA by 49.7% during the first quarter. EverSource Wealth Advisors LLC now owns 1,132 shares of the company’s stock worth $77,000 after buying an additional 376 shares during the last quarter. 90.94% of the stock is owned by institutional investors.

PHINIA Company Profile

PHINIA Inc (NYSE:PHIN) is a global supplier of fuel systems, electrical systems and aftermarket products for automotive, commercial vehicle and industrial applications. The company develops technologies that support the performance, efficiency and emissions management of internal-combustion engines and other propulsion systems.

Its products include fuel injectors, fuel pumps and modules, fuel-system controls, ignition components, sensors, actuators and electronic control systems. PHINIA also supplies diesel fuel systems and related technologies for commercial vehicles and off-highway equipment, as well as replacement parts, service products and solutions through its aftermarket business.

PHINIA was established as an independent public company in 2023 after being spun off from BorgWarner.