PHINIA (NYSE:PHIN) Shares Gap Up Following Insider Buying Activity

PHINIA Inc. (NYSE:PHIN) shares gapped up prior to trading on Friday after an insider bought additional shares in the company. The stock had previously closed at $40.43, but opened at $42.62. PHINIA shares last traded at $42.45, with a volume of 67,562 shares changing hands.

Specifically, CEO Brady D. Ericson acquired 10,000 shares of the firm’s stock in a transaction on Wednesday, April 30th. The stock was bought at an average price of $39.73 per share, for a total transaction of $397,300.00. Following the completion of the purchase, the chief executive officer now directly owns 436,486 shares of the company’s stock, valued at approximately $17,341,588.78. The trade was a 2.34 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PHIN. CL King started coverage on PHINIA in a research report on Monday, March 24th. They issued a “buy” rating and a $54.00 target price for the company. UBS Group reissued a “neutral” rating and issued a $45.00 price objective (down from $56.00) on shares of PHINIA in a report on Thursday, April 10th. Northland Securities initiated coverage on shares of PHINIA in a report on Thursday, January 30th. They issued an “outperform” rating and a $61.00 target price on the stock. BNP Paribas cut shares of PHINIA from an “outperform” rating to a “neutral” rating and set a $46.00 price target for the company. in a research note on Wednesday, April 23rd. Finally, Bank of America initiated coverage on shares of PHINIA in a research report on Thursday, April 10th. They set a “buy” rating and a $53.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $51.50.

PHINIA Trading Up 3.6 %

The company has a debt-to-equity ratio of 0.61, a current ratio of 1.90 and a quick ratio of 1.44. The firm has a market capitalization of $1.67 billion, a price-to-earnings ratio of 23.93 and a beta of 1.59. The business’s 50 day moving average price is $42.44 and its 200-day moving average price is $47.55.

PHINIA (NYSE:PHIN) last released its quarterly earnings results on Friday, April 25th. The company reported $0.94 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.10). PHINIA had a return on equity of 10.12% and a net margin of 2.32%. The company had revenue of $796.00 million for the quarter, compared to analyst estimates of $813.24 million. During the same period last year, the firm posted $1.08 earnings per share. The business’s revenue was down 7.8% on a year-over-year basis. Equities analysts forecast that PHINIA Inc. will post 4.21 EPS for the current fiscal year.

PHINIA Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a $0.27 dividend. This is a boost from PHINIA’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.08 annualized dividend and a dividend yield of 2.58%. PHINIA’s payout ratio is 61.36%.

Institutional Investors Weigh In On PHINIA

A number of hedge funds have recently bought and sold shares of the business. Victory Capital Management Inc. raised its holdings in PHINIA by 33.8% in the first quarter. Victory Capital Management Inc. now owns 236,760 shares of the company’s stock valued at $10,046,000 after acquiring an additional 59,808 shares in the last quarter. Banyan Capital Management Inc. grew its position in shares of PHINIA by 1.7% in the 1st quarter. Banyan Capital Management Inc. now owns 242,474 shares of the company’s stock worth $10,288,000 after acquiring an additional 4,123 shares in the last quarter. Alps Advisors Inc. increased its holdings in shares of PHINIA by 7.8% in the 1st quarter. Alps Advisors Inc. now owns 102,360 shares of the company’s stock valued at $4,343,000 after acquiring an additional 7,381 shares during the last quarter. Nisa Investment Advisors LLC raised its position in shares of PHINIA by 1.6% during the 1st quarter. Nisa Investment Advisors LLC now owns 17,080 shares of the company’s stock valued at $725,000 after acquiring an additional 274 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in PHINIA by 41.2% during the first quarter. Envestnet Asset Management Inc. now owns 9,701 shares of the company’s stock worth $412,000 after purchasing an additional 2,831 shares during 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.