PHINIA (NYSE:PHIN) Raised to “Buy” at Wall Street Zen

PHINIA (NYSE:PHIN) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

PHIN has been the topic of a number of other reports. Northland Securities set a $98.00 target price on PHINIA in a research report on Friday, July 31st. Weiss Ratings cut PHINIA from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, September 16th. UBS Group lifted their price target on PHINIA from $68.00 to $69.00 and gave the stock a “neutral” rating in a research note on Friday, October 30th. Finally, Zacks Research upgraded shares of PHINIA from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 29th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $90.67.

PHINIA Stock Performance

NYSE:PHIN opened at $68.80 on Friday. The firm’s fifty day simple moving average is $61.99 and its 200-day simple moving average is $71.34. The company has a quick ratio of 1.28, a current ratio of 1.70 and a debt-to-equity ratio of 0.64. The stock has a market cap of $2.47 billion, a PE ratio of 13.87 and a beta of 1.16. PHINIA has a fifty-two week low of $51.38 and a fifty-two week high of $86.93.

PHINIA (NYSE:PHIN) last released its quarterly earnings data on Thursday, October 29th. The company reported $1.83 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.15. PHINIA had a net margin of 5.22% and a return on equity of 14.32%. The firm had revenue of $912.00 million for the quarter, compared to the consensus estimate of $928.21 million. Analysts expect that PHINIA will post 6.10 earnings per share for the current fiscal year.

Insider Buying and Selling

In other PHINIA news, CFO Chris Gropp sold 13,500 shares of the company’s stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $66.71, for a total value of $900,585.00. Following the transaction, the chief financial officer directly owned 43,823 shares in the company, valued at approximately $2,923,432.33. This represents a 23.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Todd Anderson sold 3,056 shares of the firm’s stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $66.41, for a total transaction of $202,948.96. Following the sale, the vice president directly owned 26,736 shares in the company, valued at $1,775,537.76. This represents a 10.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 55,270 shares of company stock worth $3,698,592 in the last 90 days. 2.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PHINIA

Several institutional investors and hedge funds have recently modified their holdings of the company. Lodge Hill Capital LLC boosted its position in PHINIA by 450.8% in the 1st quarter. Lodge Hill Capital LLC now owns 2,381,150 shares of the company’s stock valued at $162,966,000 after buying an additional 1,948,820 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of PHINIA by 1.5% during the first quarter. Dimensional Fund Advisors LP now owns 2,336,499 shares of the company’s stock valued at $159,901,000 after acquiring an additional 34,503 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of PHINIA by 1.5% during the second quarter. Wellington Management Group LLP now owns 298,734 shares of the company’s stock valued at $24,607,000 after acquiring an additional 4,274 shares in the last quarter. Amundi increased its position in shares of PHINIA by 4,268.6% during the first quarter. Amundi now owns 200,693 shares of the company’s stock worth $13,735,000 after acquiring an additional 196,099 shares during the last quarter. Finally, Empowered Funds LLC increased its position in shares of PHINIA by 3.3% during the first quarter. Empowered Funds LLC now owns 184,368 shares of the company’s stock worth $12,618,000 after acquiring an additional 5,869 shares during the last quarter. Hedge funds and other institutional investors own 90.94% of the company’s stock.

About PHINIA

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.