KeyCorp Upgrades PHINIA (NYSE:PHIN) to “Strong-Buy”

PHINIA (NYSE:PHIN) was upgraded by equities researchers at KeyCorp to a “strong-buy” rating in a research report issued on Thursday,Zacks.com reports.

Other equities research analysts have also issued research reports about the stock. Wall Street Zen raised shares of PHINIA from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 2nd. Weiss Ratings raised shares of PHINIA from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, June 4th. Zacks Research upgraded shares of PHINIA from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. Northland Securities set a $93.00 price target on shares of PHINIA in a research report on Friday, February 13th. Finally, UBS Group reiterated a “neutral” rating and issued a $76.00 price objective on shares of PHINIA in a research report on Friday, February 13th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, PHINIA presently has an average rating of “Moderate Buy” and a consensus price target of $74.83.

PHINIA Price Performance

PHIN stock opened at $85.25 on Thursday. PHINIA has a 1 year low of $41.59 and a 1 year high of $86.65. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.82 and a quick ratio of 1.32. The firm has a market capitalization of $3.16 billion, a PE ratio of 23.81 and a beta of 1.16. The business has a 50 day simple moving average of $75.39 and a 200-day simple moving average of $69.40.

PHINIA (NYSE:PHIN) last released 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 company had revenue of $878.00 million for the quarter, compared to analyst estimates of $838.67 million. PHINIA had a return on equity of 13.23% and a net margin of 3.96%.The firm’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.94 earnings per share. Equities research analysts anticipate that PHINIA will post 6.36 earnings per share for the current fiscal year.

Insider Activity at PHINIA

In other news, VP Michael Coetzee sold 1,250 shares of the company’s 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 transaction, the vice president directly owned 27,009 shares in the company, valued at approximately $2,177,195.49. This represents a 4.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Samantha Pombier sold 2,227 shares of the stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $82.36, for a total transaction of $183,415.72. Following the transaction, the vice president directly owned 6,637 shares of the company’s stock, valued at $546,623.32. The trade was a 25.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On PHINIA

A number of institutional investors have recently modified their holdings of PHIN. Lodge Hill Capital LLC raised its holdings in shares of 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 period. ION Fund Management Ltd purchased a new position in PHINIA during the 4th quarter valued at about $32,285,000. Freestone Grove Partners LP increased its stake in PHINIA by 1,206.1% during the fourth quarter. Freestone Grove Partners LP now owns 557,097 shares of the company’s stock worth $34,924,000 after purchasing an additional 514,442 shares during the period. UBS Group AG lifted its position in shares of PHINIA by 222.9% during the third quarter. UBS Group AG now owns 466,053 shares of the company’s stock worth $26,789,000 after purchasing an additional 321,708 shares in the last quarter. Finally, Amundi lifted 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 purchasing an additional 196,099 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.