PHINIA (NYSE:PHIN) Rating Lowered to Hold at Freedom Capital

PHINIA (NYSE:PHIN) was downgraded by research analysts at Freedom Capital from a “strong-buy” rating to a “hold” rating in a research report issued on Thursday,Zacks.com reports.

A number of other brokerages have also weighed in on PHIN. BNP Paribas Exane upgraded shares of PHINIA from a “neutral” rating to an “outperform” rating and set a $63.00 price target on the stock in a report on Monday, November 3rd. Northland Securities set a $93.00 target price on PHINIA in a research report on Friday, February 13th. Wall Street Zen raised PHINIA from a “buy” rating to a “strong-buy” rating in a research report on Sunday, February 22nd. Weiss Ratings restated a “hold (c)” rating on shares of PHINIA in a research note on Monday, December 29th. Finally, UBS Group restated a “neutral” rating and issued a $76.00 price objective on shares of PHINIA in a report on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $66.33.

PHINIA Stock Down 2.2%

PHIN opened at $72.54 on Thursday. PHINIA has a 12 month low of $36.25 and a 12 month high of $81.11. The business has a 50-day moving average of $69.86 and a two-hundred day moving average of $60.62. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.86 and a quick ratio of 1.36. The stock has a market capitalization of $2.75 billion, a price-to-earnings ratio of 22.32 and a beta of 1.37.

PHINIA (NYSE:PHIN) last announced its quarterly earnings data on Thursday, February 12th. The company reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.17). PHINIA had a return on equity of 12.56% and a net margin of 3.73%.The company had revenue of $889.00 million for the quarter, compared to analysts’ expectations of $843.59 million. During the same quarter in the previous year, the company earned $0.71 earnings per share. The company’s revenue was up 6.7% on a year-over-year basis. On average, research analysts expect that PHINIA will post 4.21 earnings per share for the current year.

Institutional Trading of PHINIA

Several large investors have recently bought and sold shares of PHIN. Royal Bank of Canada lifted its position in shares of PHINIA by 464.8% during the first quarter. Royal Bank of Canada now owns 75,745 shares of the company’s stock worth $3,214,000 after purchasing an additional 62,333 shares in the last quarter. AQR Capital Management LLC grew its holdings in PHINIA by 62.3% during the 1st quarter. AQR Capital Management LLC now owns 22,343 shares of the company’s stock valued at $938,000 after purchasing an additional 8,576 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in PHINIA by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,891 shares of the company’s stock worth $1,056,000 after buying an additional 1,093 shares during the period. Goldman Sachs Group Inc. increased its stake in PHINIA by 6.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 977,177 shares of the company’s stock worth $41,462,000 after buying an additional 58,875 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in PHINIA by 7.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 94,270 shares of the company’s stock worth $4,000,000 after buying an additional 6,478 shares in the last quarter. Institutional investors and hedge funds own 90.94% of the company’s stock.

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.