PHINIA (NYSE:PHIN) Stock Bumped Up to “Hold” by Zacks Research

Zacks Research upgraded shares of PHINIA (NYSE:PHIN) from a strong sell rating to a hold rating in a research report report published on Tuesday,Zacks reports.

A number of other research analysts have also issued reports on the stock. Wall Street Zen upgraded shares of PHINIA from a “hold” rating to a “buy” rating in a research note on Monday, September 14th. UBS Group dropped their price objective on shares of PHINIA from $81.00 to $80.00 and set a “neutral” rating on the stock in a report on Friday, July 31st. Weiss Ratings downgraded PHINIA from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, September 16th. KeyCorp assumed coverage on PHINIA in a research note on Friday, June 12th. They issued an “overweight” rating and a $105.00 target price for the company. Finally, Northland Securities set a $98.00 price target on PHINIA in a research report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $86.50.

PHINIA Price Performance

Shares of NYSE PHIN opened at $59.51 on Tuesday. PHINIA has a fifty-two week low of $50.79 and a fifty-two week high of $86.93. The company has a market cap of $2.18 billion, a PE ratio of 17.05 and a beta of 1.14. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.34 and a current ratio of 1.81. The business has a 50-day simple moving average of $69.70 and a two-hundred day simple moving average of $73.35.

PHINIA (NYSE:PHIN) last posted its quarterly earnings data 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 analyst estimates of $918.83 million. PHINIA had a net margin of 3.73% and a return on equity of 13.86%. As a group, equities analysts expect that PHINIA will post 6.18 EPS for the current fiscal year.

PHINIA Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 18th. Stockholders of record on Friday, September 4th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Friday, September 4th. PHINIA’s dividend payout ratio is 34.38%.

Insider Transactions at PHINIA

In related news, SVP Robert Boyle sold 7,500 shares of the firm’s stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $62.12, for a total transaction of $465,900.00. Following the completion of the transaction, the senior vice president owned 25,317 shares of the company’s stock, valued at $1,572,692.04. This trade represents a 22.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Matthew Logar sold 1,257 shares of the business’s stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $66.33, for a total transaction of $83,376.81. Following the transaction, the senior vice president owned 15,576 shares of the company’s stock, valued at $1,033,156.08. This represents a 7.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 55,270 shares of company stock valued at $3,698,592. 2.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Nykredit A S acquired a new stake in shares of PHINIA during the 2nd quarter worth approximately $38,000. Integrated Wealth Concepts LLC acquired a new stake in PHINIA during the second quarter valued at $39,000. Hantz Financial Services Inc. increased its holdings 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 buying an additional 425 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in PHINIA by 49.7% in the first quarter. EverSource Wealth Advisors LLC now owns 1,132 shares of the company’s stock valued at $77,000 after buying an additional 376 shares in the last quarter. Finally, Global Retirement Partners LLC boosted its stake in shares of PHINIA by 2,529.2% during the 4th quarter. Global Retirement Partners LLC now owns 1,262 shares of the company’s stock worth $79,000 after acquiring an additional 1,214 shares in the last quarter. 90.94% of the stock is currently owned by hedge funds and other institutional investors.

About PHINIA

PHINIA Inc (NYSE: PHIN) is a global supplier of fuel systems, electrical systems and aftermarket products for commercial vehicles, passenger vehicles and industrial applications. The company’s products are designed to support internal-combustion, hybrid and other powertrain technologies.

Its product portfolio includes fuel injectors, fuel pumps, fuel modules, electronic control units, sensors, actuators, ignition components, starters and alternators. PHINIA also provides replacement parts, diagnostic equipment and related service solutions through its aftermarket business, which serves original-equipment and independent repair channels.

PHINIA was established as an independent public company in 2023 through the separation of BorgWarner’s fuel systems and aftermarket businesses.