Brokerages Set PHINIA Inc. (NYSE:PHIN) Price Target at $74.83

PHINIA Inc. (NYSE:PHIN) has earned a consensus recommendation of “Moderate Buy” from the ten brokerages that are currently covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $75.6667.

Several analysts have recently issued reports on PHIN shares. Zacks Research downgraded PHINIA from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 30th. UBS Group lifted their price objective on PHINIA from $76.00 to $81.00 and gave the stock a “neutral” rating in a research report on Thursday. Weiss Ratings raised shares of PHINIA from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday. Wall Street Zen upgraded shares of PHINIA from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 2nd. Finally, KeyCorp assumed coverage on shares of PHINIA in a report on Friday, June 12th. They issued an “overweight” rating and a $105.00 target price on the stock.

Insider Buying and Selling

In other PHINIA news, VP Michael Coetzee sold 1,250 shares of PHINIA stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $80.61, for a total value of $100,762.50. Following the completion of the sale, the vice president directly owned 27,009 shares of the company’s stock, valued at approximately $2,177,195.49. The trade was a 4.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Samantha Pombier sold 2,227 shares of the business’s stock in a transaction on 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 transaction, the vice president owned 6,637 shares of the company’s stock, valued at $546,623.32. This trade represents a 25.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 2.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On PHINIA

Institutional investors have recently added to or reduced their stakes in the business. Lodge Hill Capital LLC boosted its stake in PHINIA by 450.8% in the 1st quarter. Lodge Hill Capital LLC now owns 2,381,150 shares of the company’s stock worth $162,966,000 after buying an additional 1,948,820 shares during the last quarter. ION Fund Management Ltd purchased a new stake in PHINIA in the 4th quarter valued at about $32,285,000. Freestone Grove Partners LP increased its stake in shares of PHINIA by 1,206.1% during the 4th quarter. Freestone Grove Partners LP now owns 557,097 shares of the company’s stock valued at $34,924,000 after acquiring an additional 514,442 shares during the last quarter. UBS Group AG increased its stake in shares of PHINIA by 222.9% during the 3rd quarter. UBS Group AG now owns 466,053 shares of the company’s stock valued at $26,789,000 after acquiring an additional 321,708 shares during the last quarter. Finally, Amundi lifted its holdings in shares of PHINIA by 4,268.6% during the 1st 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 period. 90.94% of the stock is currently owned by institutional investors and hedge funds.

PHINIA Price Performance

Shares of NYSE PHIN traded down $0.42 on Friday, hitting $78.27. The company’s stock had a trading volume of 241,580 shares, compared to its average volume of 462,345. The stock has a 50 day moving average of $78.87 and a 200-day moving average of $72.77. The company has a market capitalization of $2.90 billion, a price-to-earnings ratio of 21.86 and a beta of 1.13. PHINIA has a 12-month low of $46.78 and a 12-month high of $86.93. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.82 and a quick ratio of 1.32.

PHINIA (NYSE:PHIN) last issued its quarterly earnings data on Thursday, April 30th. The company reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.16. The business had revenue of $878.00 million during the quarter, compared to analysts’ expectations of $838.67 million. PHINIA had a net margin of 3.96% and a return on equity of 13.23%. The company’s revenue was up 10.3% on a year-over-year basis. During the same period last year, the company posted $0.94 EPS. As a group, research analysts predict that PHINIA will post 6.24 EPS for the current year.

PHINIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 23rd. Investors of record on Tuesday, June 9th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, June 9th. This represents a $1.20 annualized dividend and a dividend yield of 1.5%. PHINIA’s dividend payout ratio is presently 33.52%.

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.