PHINIA (NYSE:PHIN) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of PHINIA (NYSE:PHIN) from a hold rating to a buy rating in a report released on Saturday,Wall Street Zen reports.

PHIN has been the subject of several other research reports. Weiss Ratings lowered PHINIA from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, September 16th. Northland Securities set a $98.00 target price on PHINIA in a research note on Friday, July 31st. Zacks Research raised PHINIA from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 29th. Finally, UBS Group raised their price target on PHINIA from $68.00 to $69.00 and gave the company a “neutral” rating in a report on Friday, October 30th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, PHINIA currently has a consensus rating of “Moderate Buy” and an average target price of $90.67.

PHINIA Stock Performance

NYSE PHIN opened at $70.29 on Friday. PHINIA has a 1 year low of $51.38 and a 1 year high of $86.93. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.70 and a quick ratio of 1.28. The stock has a market capitalization of $2.53 billion, a PE ratio of 14.17 and a beta of 1.16. The company’s 50 day simple moving average is $62.02 and its two-hundred day simple moving average is $71.34.

PHINIA (NYSE:PHIN) last announced its quarterly earnings results on Thursday, October 29th. The company reported $1.83 EPS for the quarter, beating the consensus estimate of $1.68 by $0.15. The firm had revenue of $912.00 million during the quarter, compared to the consensus estimate of $928.21 million. PHINIA had a net margin of 5.22% and a return on equity of 14.32%. Analysts predict that PHINIA will post 6.10 earnings per share for the current fiscal year.

Insider Transactions at PHINIA

In other 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 sale, the senior vice president owned 25,317 shares in the company, valued at approximately $1,572,692.04. This trade represents a 22.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Todd Anderson sold 3,056 shares of PHINIA stock in a transaction on Friday, September 11th. The stock was sold at an average price of $66.41, for a total transaction of $202,948.96. Following the sale, the vice president directly owned 26,736 shares of the company’s stock, valued at $1,775,537.76. This represents a 10.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 55,270 shares of company stock worth $3,698,592. Company insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On PHINIA

Hedge funds have recently added to or reduced their stakes in the company. Baron Wealth Management LLC increased its position in PHINIA by 3.7% during the 2nd quarter. Baron Wealth Management LLC now owns 4,542 shares of the company’s stock valued at $374,000 after purchasing an additional 160 shares during the period. Ritholtz Wealth Management raised its holdings in PHINIA by 0.8% in the 3rd quarter. Ritholtz Wealth Management now owns 20,513 shares of the company’s stock worth $1,219,000 after purchasing an additional 165 shares in the last quarter. Knights of Columbus Asset Advisors LLC lifted its position in shares of PHINIA by 0.5% in the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 38,148 shares of the company’s stock worth $2,267,000 after purchasing an additional 180 shares during the period. Signaturefd LLC lifted its position in shares of PHINIA by 29.5% in the 3rd quarter. Signaturefd LLC now owns 1,023 shares of the company’s stock worth $61,000 after purchasing an additional 233 shares during the period. Finally, Teachers Retirement System of The State of Kentucky lifted its position in shares of PHINIA by 3.8% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 9,640 shares of the company’s stock worth $659,000 after purchasing an additional 350 shares during the period. Institutional investors own 90.94% of the company’s stock.

About PHINIA

PHINIA Inc develops and manufactures fuel systems and aftermarket products for the global automotive and commercial vehicle industries. Its products include fuel injection and fuel delivery systems, ignition components, and related technologies for vehicles with internal combustion engines.

The company also supplies replacement parts and services to the automotive aftermarket, including products under the Delphi brand. Its customers include vehicle and engine manufacturers as well as distributors and repair businesses.

PHINIA became an independent public company in 2023 through a spin-off from BorgWarner.