PHINIA (NYSE:PHIN) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of PHINIA (NYSE:PHIN) from a buy rating to a strong-buy rating in a research report sent to investors on Sunday morning.

A number of other research analysts also recently weighed in on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of PHINIA in a research report on Monday, December 29th. Northland Securities set a $93.00 price objective on PHINIA in a report on Friday, February 13th. BNP Paribas Exane raised PHINIA from a “neutral” rating to an “outperform” rating and set a $63.00 target price on the stock in a research report on Monday, November 3rd. UBS Group reissued a “neutral” rating and set a $76.00 price target on shares of PHINIA in a research report on Friday, February 13th. Finally, Zacks Research upgraded PHINIA from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 31st. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $66.33.

PHINIA Trading Up 3.0%

NYSE PHIN opened at $79.24 on Friday. PHINIA has a one year low of $36.25 and a one year high of $81.11. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.86 and a quick ratio of 1.36. The firm has a market cap of $3.00 billion, a P/E ratio of 24.38 and a beta of 1.37. The stock’s 50-day moving average is $68.96 and its 200-day moving average is $60.26.

PHINIA (NYSE:PHIN) last posted its quarterly earnings data on Thursday, February 12th. The company reported $1.18 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.17). The company had revenue of $889.00 million during the quarter, compared to the consensus estimate of $843.59 million. PHINIA had a net margin of 3.73% and a return on equity of 12.56%. The company’s revenue was up 6.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.71 earnings per share. Sell-side analysts anticipate that PHINIA will post 4.21 earnings per share for the current fiscal year.

PHINIA Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Friday, March 6th will be paid a dividend of $0.30 per share. The ex-dividend date is Friday, March 6th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.5%. This is a boost from PHINIA’s previous quarterly dividend of $0.27. PHINIA’s dividend payout ratio is 33.23%.

Institutional Trading of PHINIA

Several hedge funds have recently added to or reduced their stakes in the company. ION Fund Management Ltd bought a new stake in PHINIA in the 4th quarter valued at about $32,285,000. Freestone Grove Partners LP raised its position in shares of PHINIA by 1,206.1% in the fourth quarter. Freestone Grove Partners LP now owns 557,097 shares of the company’s stock valued at $34,924,000 after buying an additional 514,442 shares in the last quarter. UBS Group AG boosted its stake in shares of PHINIA by 222.9% in the third quarter. UBS Group AG now owns 466,053 shares of the company’s stock valued at $26,789,000 after buying an additional 321,708 shares during the period. Voss Capital LP boosted its stake in shares of PHINIA by 10.8% in the second quarter. Voss Capital LP now owns 2,290,000 shares of the company’s stock valued at $101,882,000 after buying an additional 222,658 shares during the period. Finally, Teacher Retirement System of Texas grew its position in PHINIA by 92.2% during the third quarter. Teacher Retirement System of Texas now owns 416,328 shares of the company’s stock worth $23,931,000 after buying an additional 199,756 shares in the last quarter. 90.94% of the stock is owned by institutional investors and hedge funds.

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.