Zacks Research Downgrades PHINIA (NYSE:PHIN) to Hold

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

PHIN has been the subject of several other reports. KeyCorp initiated coverage on PHINIA in a research report on Friday, June 12th. They set an “overweight” rating and a $105.00 price objective for the company. Wall Street Zen upgraded PHINIA from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 2nd. Finally, Weiss Ratings downgraded PHINIA from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, June 23rd. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $74.83.

PHINIA Stock Performance

Shares of PHINIA stock opened at $78.08 on Tuesday. The company has a current ratio of 1.82, a quick ratio of 1.32 and a debt-to-equity ratio of 0.62. The company has a market cap of $2.89 billion, a PE ratio of 21.81 and a beta of 1.12. The company has a 50 day moving average of $78.16 and a 200-day moving average of $71.95. PHINIA has a 1-year low of $46.43 and a 1-year high of $86.93.

PHINIA (NYSE:PHIN) last announced its quarterly earnings data on Thursday, April 30th. The company reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.16. PHINIA had a net margin of 3.96% and a return on equity of 13.23%. The business had revenue of $878.00 million for the quarter, compared to analysts’ expectations of $838.67 million. During the same period last year, the firm posted $0.94 earnings per share. The firm’s quarterly revenue was up 10.3% compared to the same quarter last year. As a group, equities research analysts forecast that PHINIA will post 6.24 earnings per share for the current fiscal year.

Insider Buying and Selling at PHINIA

In other news, VP Michael Coetzee sold 1,250 shares of the stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $80.61, for a total value of $100,762.50. Following the completion of 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Samantha Pombier sold 2,227 shares of the firm’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $82.36, for a total value of $183,415.72. Following the sale, the vice president directly owned 6,637 shares in the company, valued at approximately $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 corporate insiders.

Hedge Funds Weigh In On PHINIA

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