PHINIA (NYSE:PHIN) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of PHINIA (NYSE:PHIN) from a hold rating to a buy rating in a research report sent to investors on Monday morning,Wall Street Zen reports.

Several other brokerages have also recently weighed in on PHIN. Northland Securities set a $98.00 price target on PHINIA in a research report on Friday, July 31st. Weiss Ratings upgraded shares of PHINIA from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, September 1st. UBS Group reduced their price objective on shares of PHINIA from $81.00 to $80.00 and set a “neutral” rating for the company in a research note on Friday, July 31st. Zacks Research lowered shares of PHINIA from a “hold” rating to a “strong sell” rating in a report on Monday, August 3rd. Finally, KeyCorp assumed coverage on shares of PHINIA in a research note on Friday, June 12th. They issued an “overweight” rating and a $105.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $86.50.

PHINIA Price Performance

PHINIA stock opened at $62.85 on Monday. The firm has a market capitalization of $2.30 billion, a P/E ratio of 18.01 and a beta of 1.14. PHINIA has a one year low of $50.79 and a one year high of $86.93. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.81 and a quick ratio of 1.34. The business has a fifty day moving average price of $74.01 and a 200-day moving average price of $74.13.

PHINIA (NYSE:PHIN) last released its quarterly earnings data on Thursday, July 30th. The company reported $1.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.04). The company had revenue of $940.00 million for the quarter, compared to the consensus estimate of $918.83 million. PHINIA had a net margin of 3.73% and a return on equity of 13.86%. As a group, equities research analysts forecast that PHINIA will post 6.18 EPS for the current year.

PHINIA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, September 4th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $1.20 annualized dividend and a dividend yield of 1.9%. PHINIA’s dividend payout ratio (DPR) is presently 34.38%.

Insider Activity

In related news, VP Christopher Gustanski sold 2,097 shares of the company’s stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $66.97, for a total value of $140,436.09. Following the transaction, the vice president directly owned 11,301 shares in the company, valued at approximately $756,827.97. This represents a 15.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brady D. Ericson sold 27,860 shares of the firm’s stock in a transaction on Monday, August 31st. The shares were sold at an average price of $68.39, for a total transaction of $1,905,345.40. Following the sale, the chief executive officer owned 330,497 shares in the company, valued at approximately $22,602,689.83. This trade represents a 7.77% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 47,770 shares of company stock worth $3,232,692. Company insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On PHINIA

Hedge funds have recently added to or reduced their stakes in the company. California State Teachers Retirement System increased its position in shares of PHINIA by 7,907.8% during the 2nd quarter. California State Teachers Retirement System now owns 3,750,388 shares of the company’s stock valued at $308,919,000 after purchasing an additional 3,703,554 shares during the last quarter. Lodge Hill Capital LLC increased its holdings in shares of PHINIA by 450.8% in the first 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 period. Dimensional Fund Advisors LP lifted its stake in shares of PHINIA by 1.5% in the 1st 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 during the last quarter. Voss Capital LP boosted its holdings in PHINIA by 2.8% during the 4th quarter. Voss Capital LP now owns 1,727,468 shares of the company’s stock valued at $108,295,000 after acquiring an additional 47,468 shares during the period. Finally, Prevatt Capital Ltd lifted its position in PHINIA by 18.8% in the first quarter. Prevatt Capital Ltd now owns 380,000 shares of the company’s stock valued at $26,007,000 after purchasing an additional 60,000 shares during the last quarter. Institutional investors own 90.94% of the company’s stock.

PHINIA Company Profile

PHINIA Inc (NYSE: PHIN) is a global supplier of fuel systems, electrical systems and aftermarket products for commercial vehicles, passenger vehicles and industrial applications. The company’s products are designed to support internal-combustion, hybrid and other powertrain technologies.

Its product portfolio includes fuel injectors, fuel pumps, fuel modules, electronic control units, sensors, actuators, ignition components, starters and alternators. PHINIA also provides replacement parts, diagnostic equipment and related service solutions through its aftermarket business, which serves original-equipment and independent repair channels.

PHINIA was established as an independent public company in 2023 through the separation of BorgWarner’s fuel systems and aftermarket businesses.