PHINIA (NYSE:PHIN) Lowered to Hold Rating by Zacks Research

PHINIA (NYSE:PHIN) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Tuesday,Zacks.com reports.

Other analysts also recently issued research reports about the stock. KeyCorp assumed coverage on shares of PHINIA in a report on Friday, June 12th. They set an “overweight” rating and a $105.00 target price for the company. Weiss Ratings cut shares of PHINIA from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, June 23rd. Finally, Wall Street Zen upgraded shares of PHINIA from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 2nd. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $74.83.

PHINIA Trading Down 5.2%

Shares of PHINIA stock opened at $78.08 on Tuesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.82 and a quick ratio of 1.32. The business has a fifty day simple moving average of $78.16 and a two-hundred day simple moving average of $71.95. PHINIA has a 1 year low of $46.43 and a 1 year high of $86.93. The company has a market capitalization of $2.89 billion, a price-to-earnings ratio of 21.81 and a beta of 1.12.

PHINIA (NYSE:PHIN) last released its quarterly earnings data on Thursday, April 30th. The company reported $1.29 EPS for the quarter, beating the consensus estimate of $1.13 by $0.16. The firm had revenue of $878.00 million for the quarter, compared to the consensus estimate of $838.67 million. PHINIA had a net margin of 3.96% and a return on equity of 13.23%. The company’s quarterly revenue was up 10.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.94 earnings per share. Research analysts forecast that PHINIA will post 6.24 EPS for the current year.

Insiders Place Their Bets

In related news, VP Michael Coetzee sold 1,250 shares of the company’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $80.61, for a total value of $100,762.50. Following the transaction, the vice president directly owned 27,009 shares in the company, valued at approximately $2,177,195.49. This represents a 4.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Samantha Pombier sold 2,227 shares of PHINIA stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $82.36, for a total transaction of $183,415.72. Following the completion of the sale, the vice president owned 6,637 shares of the company’s stock, valued at $546,623.32. This trade represents a 25.12% decrease in their position. The SEC filing for this sale provides additional information. 2.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in PHIN. Tudor Investment Corp ET AL bought a new stake in shares of PHINIA during the 3rd quarter valued at $3,850,000. Intech Investment Management LLC grew its holdings in shares of PHINIA by 634.1% during the 4th quarter. Intech Investment Management LLC now owns 119,432 shares of the company’s stock worth $7,487,000 after purchasing an additional 103,162 shares in the last quarter. Voss Capital LP increased its position in shares of PHINIA by 2.8% in the fourth quarter. Voss Capital LP now owns 1,727,468 shares of the company’s stock worth $108,295,000 after purchasing an additional 47,468 shares during the period. Vanguard Group Inc. increased its position in shares of PHINIA by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 4,510,133 shares of the company’s stock worth $282,740,000 after purchasing an additional 44,599 shares during the period. Finally, Hillsdale Investment Management Inc. acquired a new position in PHINIA in the fourth quarter valued at about $8,639,000. 90.94% of the stock is owned by institutional investors.

About PHINIA

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.