PHINIA (NYSE:PHIN) Hits New 52-Week High – What’s Next?

PHINIA Inc. (NYSE:PHIN) shares reached a new 52-week high on Monday . The stock traded as high as $69.50 and last traded at $69.4150, with a volume of 30563 shares. The stock had previously closed at $69.22.

Analyst Ratings Changes

A number of research analysts have recently issued reports on PHIN shares. Zacks Research upgraded shares of PHINIA from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 31st. Weiss Ratings reiterated a “hold (c)” rating on shares of PHINIA in a research note on Monday, December 29th. BNP Paribas Exane raised PHINIA from a “neutral” rating to an “outperform” rating and set a $63.00 price objective for the company in a report on Monday, November 3rd. Northland Securities raised their target price on PHINIA from $65.00 to $79.00 and gave the company an “outperform” rating in a report on Tuesday, December 30th. Finally, Wall Street Zen upgraded PHINIA from a “buy” rating to a “strong-buy” rating in a report on Saturday. Three research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $59.00.

PHINIA Price Performance

The company has a current ratio of 1.72, a quick ratio of 1.25 and a debt-to-equity ratio of 0.61. The company has a market cap of $2.64 billion, a P/E ratio of 30.96 and a beta of 1.37. The business’s fifty day moving average is $57.59 and its 200 day moving average is $55.01.

PHINIA (NYSE:PHIN) last announced its quarterly earnings data on Tuesday, October 28th. The company reported $1.59 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.42. PHINIA had a return on equity of 11.64% and a net margin of 2.63%.The business had revenue of $908.00 million during the quarter, compared to analyst estimates of $861.57 million. During the same period in the prior year, the company earned $1.17 earnings per share. PHINIA’s revenue was up 8.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that PHINIA Inc. will post 4.21 EPS for the current year.

PHINIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 12th. Investors of record on Monday, November 24th were issued a $0.27 dividend. The ex-dividend date of this dividend was Monday, November 24th. This represents a $1.08 annualized dividend and a yield of 1.6%. PHINIA’s dividend payout ratio (DPR) is 48.65%.

Insider Activity

In related news, VP Samantha Pombier sold 1,940 shares of the business’s stock in a transaction on Friday, November 14th. The stock was sold at an average price of $54.14, for a total transaction of $105,031.60. Following the sale, the vice president directly owned 8,869 shares in the company, valued at approximately $480,167.66. The trade was a 17.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Hongyong Yang sold 893 shares of the company’s stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $52.43, for a total value of $46,819.99. Additional details regarding this sale are available in the official SEC disclosure. 2.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. EMC Capital Management purchased a new position in PHINIA during the second quarter worth about $39,000. TD Waterhouse Canada Inc. boosted its position in shares of PHINIA by 350.0% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 900 shares of the company’s stock valued at $42,000 after acquiring an additional 700 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of PHINIA by 34.4% during the third quarter. EverSource Wealth Advisors LLC now owns 868 shares of the company’s stock worth $50,000 after purchasing an additional 222 shares in the last quarter. MAI Capital Management increased its position in shares of PHINIA by 845.4% in the third quarter. MAI Capital Management now owns 917 shares of the company’s stock worth $53,000 after purchasing an additional 820 shares during the last quarter. Finally, State of Wyoming bought a new position in shares of PHINIA in the second quarter worth approximately $60,000. 90.94% of the stock is currently owned by hedge funds and other institutional investors.

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.