PHINIA (NYSE:PHIN) Rating Lowered to “Hold” at Wall Street Zen

PHINIA (NYSE:PHIN) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

A number of other research firms also recently issued reports on PHIN. KeyCorp assumed coverage on shares of PHINIA in a report on Friday, June 12th. They set an “overweight” rating and a $105.00 price objective on the stock. UBS Group lowered their target price on shares of PHINIA from $80.00 to $68.00 and set a “neutral” rating for the company in a report on Wednesday. Northland Securities set a $98.00 target price on shares of PHINIA in a report on Friday, July 31st. Weiss Ratings lowered shares of PHINIA from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, September 16th. Finally, Zacks Research raised shares of PHINIA from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 29th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $83.50.

PHINIA Stock Down 0.2%

Shares of NYSE:PHIN opened at $57.70 on Friday. The stock has a market cap of $2.11 billion, a price-to-earnings ratio of 16.53 and a beta of 1.19. The company has a quick ratio of 1.34, a current ratio of 1.81 and a debt-to-equity ratio of 0.63. PHINIA has a 12-month low of $50.79 and a 12-month high of $86.93. The business’s 50 day moving average is $67.11 and its 200 day moving average is $73.12.

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 the consensus estimate 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 return on equity of 13.86% and a net margin of 3.73%. On average, sell-side analysts forecast that PHINIA will post 6.18 earnings per share for the current fiscal year.

Insider Activity at PHINIA

In related news, VP Todd Anderson sold 3,056 shares of the stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $66.41, for a total transaction of $202,948.96. Following the completion of the sale, the vice president directly owned 26,736 shares of the company’s stock, valued at approximately $1,775,537.76. This trade represents a 10.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Chris Gropp sold 13,500 shares of PHINIA stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $66.71, for a total value of $900,585.00. Following the sale, the chief financial officer owned 43,823 shares in the company, valued at $2,923,432.33. This trade represents a 23.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 55,270 shares of company stock valued at $3,698,592 in the last ninety days. Insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of PHIN. Lodge Hill Capital LLC raised its stake in shares of PHINIA by 450.8% during the 1st quarter. Lodge Hill Capital LLC now owns 2,381,150 shares of the company’s stock worth $162,966,000 after purchasing an additional 1,948,820 shares during the period. Dimensional Fund Advisors LP boosted its holdings 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 worth $159,901,000 after buying an additional 34,503 shares during the last quarter. Voss Capital LP boosted its holdings in shares of PHINIA by 2.8% in the 4th quarter. Voss Capital LP now owns 1,727,468 shares of the company’s stock worth $108,295,000 after buying an additional 47,468 shares during the last quarter. Prevatt Capital Ltd grew its position in PHINIA by 18.8% during the first quarter. Prevatt Capital Ltd now owns 380,000 shares of the company’s stock valued at $26,007,000 after buying an additional 60,000 shares during the period. Finally, Wellington Management Group LLP grew its position in PHINIA by 1.5% during the second quarter. Wellington Management Group LLP now owns 298,734 shares of the company’s stock valued at $24,607,000 after buying an additional 4,274 shares during the period. Institutional investors own 90.94% of the company’s stock.

PHINIA Company Profile

PHINIA Inc (NYSE: PHIN) is a global automotive technology company that develops and manufactures fuel systems, electrical systems and electrification components for commercial vehicles, passenger vehicles and other mobility applications. The company serves original equipment manufacturers as well as the automotive aftermarket.

PHINIA’s products include gasoline and diesel fuel-injection systems, fuel pumps and modules, injectors, ignition coils, glow plugs, alternators and starters. Its electrification portfolio includes components such as high-voltage systems, battery-related technologies and power-conversion products designed to support hybrid and electric vehicles.

The company also supplies replacement parts and service solutions through its aftermarket business, including products marketed under the Delphi brand.