PHINIA (NYSE:PHIN) Upgraded by KeyCorp to “Strong-Buy” Rating

KeyCorp upgraded shares of PHINIA (NYSE:PHIN) to a strong-buy rating in a research report sent to investors on Thursday,Zacks.com reports.

Several other analysts also recently issued reports on the company. Northland Securities set a $93.00 price target on PHINIA in a research note on Friday, February 13th. UBS Group restated a “neutral” rating and issued a $76.00 price target on shares of PHINIA in a research note on Friday, February 13th. Weiss Ratings upgraded PHINIA from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, June 4th. Freedom Capital downgraded PHINIA from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 26th. Finally, Zacks Research upgraded PHINIA from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.83.

PHINIA Stock Performance

Shares of NYSE PHIN opened at $85.25 on Thursday. The company has a current ratio of 1.82, a quick ratio of 1.32 and a debt-to-equity ratio of 0.62. PHINIA has a 12 month low of $41.59 and a 12 month high of $86.65. The stock has a 50 day moving average of $75.39 and a 200-day moving average of $69.40. The company has a market capitalization of $3.16 billion, a P/E ratio of 23.81 and a beta of 1.16.

PHINIA (NYSE:PHIN) last released its quarterly earnings results on Thursday, April 30th. The company reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.16. The business had revenue of $878.00 million during the quarter, compared to the consensus estimate of $838.67 million. PHINIA had a return on equity of 13.23% and a net margin of 3.96%.The firm’s quarterly revenue was up 10.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.94 EPS. As a group, equities research analysts predict that PHINIA will post 6.36 EPS for the current year.

PHINIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 23rd. Shareholders of record on Tuesday, June 9th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, June 9th. This represents a $1.20 annualized dividend and a yield of 1.4%. PHINIA’s payout ratio is currently 33.52%.

Insider Buying and Selling at PHINIA

In other PHINIA news, VP Samantha Pombier sold 2,227 shares of PHINIA stock in a transaction 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 completion of the transaction, the vice president directly owned 6,637 shares of the company’s stock, valued at $546,623.32. The trade was a 25.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Michael Coetzee sold 1,250 shares of the business’s 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 completion of the transaction, the vice president owned 27,009 shares of the company’s stock, valued at $2,177,195.49. The trade was a 4.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Larson Financial Group LLC raised its holdings in shares of PHINIA by 151.5% during the 4th quarter. Larson Financial Group LLC now owns 425 shares of the company’s stock worth $27,000 after buying an additional 256 shares in the last quarter. Federation des caisses Desjardins du Quebec raised its holdings in shares of PHINIA by 2,500.0% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 780 shares of the company’s stock worth $49,000 after buying an additional 750 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of PHINIA by 34.4% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 868 shares of the company’s stock worth $50,000 after buying an additional 222 shares in the last quarter. MAI Capital Management raised its holdings in shares of PHINIA by 845.4% during the 3rd quarter. MAI Capital Management now owns 917 shares of the company’s stock worth $53,000 after buying an additional 820 shares in the last quarter. Finally, State of Wyoming acquired a new position in shares of PHINIA during the 2nd quarter worth $60,000. 90.94% of the stock is owned by 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.