PHINIA (NYSE:PHIN) Upgraded at Wall Street Zen

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

PHIN has been the subject of a number of other research reports. Zacks Research lowered PHINIA from a “hold” rating to a “strong sell” rating in a report on Monday, August 3rd. UBS Group lowered their target price 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. KeyCorp initiated coverage on PHINIA in a research note on Friday, June 12th. They set an “overweight” rating and a $105.00 price target on the stock. Northland Securities set a $98.00 target price on shares of PHINIA in a research report on Friday, July 31st. Finally, Weiss Ratings lowered shares of PHINIA from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $82.00.

PHINIA Trading Down 0.5%

PHIN stock opened at $68.31 on Friday. The firm’s 50-day moving average is $76.70 and its 200 day moving average is $74.77. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.81 and a quick ratio of 1.34. PHINIA has a 12 month low of $50.79 and a 12 month high of $86.93. The company has a market capitalization of $2.50 billion, a PE ratio of 19.57 and a beta of 1.17.

PHINIA (NYSE:PHIN) last announced its quarterly earnings results 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). PHINIA had a net margin of 3.73% and a return on equity of 13.86%. The firm had revenue of $940.00 million during the quarter, compared to analysts’ expectations of $918.83 million. On average, research analysts anticipate that PHINIA will post 6.18 EPS for the current year.

PHINIA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, September 4th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Friday, September 4th. PHINIA’s dividend payout ratio is presently 34.38%.

Insiders Place Their Bets

In other news, VP Samantha Pombier sold 2,227 shares of the firm’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $82.36, for a total value of $183,415.72. Following the transaction, 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 legal filing with the SEC, which is available through this link. Also, VP Michael Coetzee sold 1,250 shares of PHINIA stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $80.61, for a total transaction of $100,762.50. Following the sale, the vice president directly owned 27,009 shares in the company, valued at approximately $2,177,195.49. This trade represents a 4.42% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Larson Financial Group LLC boosted its stake in PHINIA by 151.5% during the fourth quarter. Larson Financial Group LLC now owns 425 shares of the company’s stock worth $27,000 after buying an additional 256 shares during the last quarter. Nykredit A S purchased a new position in PHINIA in the second quarter worth approximately $38,000. Federation des caisses Desjardins du Quebec increased its stake in PHINIA by 2,500.0% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 780 shares of the company’s stock worth $49,000 after acquiring an additional 750 shares during the last quarter. State of Wyoming acquired a new stake in PHINIA during the second quarter worth $60,000. Finally, Hantz Financial Services Inc. raised its position in PHINIA by 76.7% in the fourth quarter. Hantz Financial Services Inc. now owns 979 shares of the company’s stock valued at $61,000 after purchasing an additional 425 shares during the period. 90.94% of the stock is currently owned by institutional investors and hedge funds.

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.