PHINIA Inc. (NYSE:PHIN) Receives Average Rating of “Moderate Buy” from Brokerages

PHINIA Inc. (NYSE:PHIN) has been assigned an average rating of “Moderate Buy” from the ten research firms that are covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $74.8333.

Several research analysts recently commented on PHIN shares. Freedom Capital lowered shares of PHINIA from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 26th. Wall Street Zen upgraded shares of PHINIA from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 2nd. Weiss Ratings upgraded shares of PHINIA from a “hold (c+)” rating to a “buy (b-)” rating in a report 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. Finally, KeyCorp started coverage on shares of PHINIA in a report on Friday. They issued an “overweight” rating and a $105.00 price target on the stock.

PHINIA Trading Up 4.2%

NYSE PHIN opened at $85.25 on Tuesday. PHINIA has a one year low of $41.59 and a one year high of $86.65. The company’s 50 day moving average price is $75.39 and its 200 day moving average price is $69.40. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.32 and a current ratio of 1.82. The firm has a market capitalization of $3.16 billion, a price-to-earnings ratio of 23.81 and a beta of 1.16.

PHINIA (NYSE:PHIN) last posted its quarterly earnings results on Thursday, April 30th. The company reported $1.29 EPS for the quarter, beating the consensus estimate of $1.13 by $0.16. PHINIA had a net margin of 3.96% and a return on equity of 13.23%. The firm had revenue of $878.00 million for the quarter, compared to analyst estimates of $838.67 million. During the same quarter last year, the firm posted $0.94 earnings per share. PHINIA’s revenue for the quarter was up 10.3% compared to the same quarter last year. On average, sell-side analysts predict that PHINIA will post 6.36 EPS for the current year.

PHINIA Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 23rd. Stockholders of record on Tuesday, June 9th will be paid a dividend of $0.30 per share. The ex-dividend date is Tuesday, June 9th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.4%. PHINIA’s dividend payout ratio (DPR) is currently 33.52%.

Insider Buying and Selling

In other news, VP Samantha Pombier sold 2,227 shares of PHINIA stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $82.36, for a total transaction of $183,415.72. Following the sale, the vice president owned 6,637 shares in the company, valued at $546,623.32. This trade represents a 25.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 transaction of $100,762.50. Following the sale, the vice president owned 27,009 shares in the company, valued at $2,177,195.49. This represents a 4.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 2.20% of the company’s stock.

Institutional Trading of PHINIA

A number of hedge funds have recently made changes to their positions in PHIN. Royal Bank of Canada raised its stake in shares of PHINIA by 464.8% during the first quarter. Royal Bank of Canada now owns 75,745 shares of the company’s stock valued at $3,214,000 after purchasing an additional 62,333 shares during the period. AQR Capital Management LLC raised its stake in shares of PHINIA by 62.3% during the first quarter. AQR Capital Management LLC now owns 22,343 shares of the company’s stock valued at $938,000 after purchasing an additional 8,576 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of PHINIA by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,891 shares of the company’s stock valued at $1,056,000 after purchasing an additional 1,093 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of PHINIA by 6.4% during the first quarter. Goldman Sachs Group Inc. now owns 977,177 shares of the company’s stock valued at $41,462,000 after purchasing an additional 58,875 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of PHINIA by 7.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 94,270 shares of the company’s stock valued at $4,000,000 after purchasing an additional 6,478 shares during the period. Hedge funds and other institutional investors own 90.94% of the company’s stock.

PHINIA Company Profile

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.