Brokerages Set PHINIA Inc. (NYSE:PHIN) PT at $51.17

Shares of PHINIA Inc. (NYSE:PHIN) have been assigned an average rating of “Moderate Buy” from the seven ratings firms that are currently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $51.17.

Several research firms have recently issued reports on PHIN. Bank of America raised their price objective on PHINIA from $53.00 to $55.00 and gave the stock a “buy” rating in a report on Thursday, May 15th. BNP Paribas lowered PHINIA from an “outperform” rating to a “neutral” rating and set a $46.00 target price on the stock. in a research report on Wednesday, April 23rd. CL King assumed coverage on PHINIA in a research report on Monday, March 24th. They issued a “buy” rating and a $54.00 price objective on the stock. Morgan Stanley cut their price objective on PHINIA from $50.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Monday, May 19th. Finally, UBS Group reissued a “neutral” rating and issued a $45.00 price objective (down from $56.00) on shares of PHINIA in a research report on Thursday, April 10th.

Insider Buying and Selling at PHINIA

In other news, CEO Brady D. Ericson bought 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 30th. The shares were purchased at an average price of $39.73 per share, with a total value of $397,300.00. Following the completion of the acquisition, the chief executive officer now directly owns 436,486 shares in the company, valued at approximately $17,341,588.78. This trade represents a 2.34% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Meggan M. Walsh bought 1,400 shares of the company’s stock in a transaction that occurred on Thursday, May 22nd. The shares were purchased at an average cost of $42.71 per share, for a total transaction of $59,794.00. Following the acquisition, the director now owns 7,492 shares of the company’s stock, valued at $319,983.32. This represents a 22.98% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 11,423 shares of company stock worth $458,069 over the last ninety days. Company insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On PHINIA

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Millennium Management LLC grew its position in PHINIA by 28.3% during the 4th quarter. Millennium Management LLC now owns 2,424,949 shares of the company’s stock worth $116,810,000 after purchasing an additional 535,222 shares in the last quarter. Voss Capital LP increased its stake in shares of PHINIA by 45.9% in the first quarter. Voss Capital LP now owns 2,067,342 shares of the company’s stock worth $87,717,000 after acquiring an additional 650,261 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of PHINIA by 14.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,048,051 shares of the company’s stock worth $98,653,000 after acquiring an additional 253,345 shares during the last quarter. First Trust Advisors LP increased its stake in shares of PHINIA by 32.6% in the fourth quarter. First Trust Advisors LP now owns 1,866,894 shares of the company’s stock worth $89,928,000 after acquiring an additional 458,650 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in shares of PHINIA by 7.5% in the first quarter. American Century Companies Inc. now owns 1,520,567 shares of the company’s stock worth $64,518,000 after acquiring an additional 106,412 shares during the last quarter. 90.94% of the stock is currently owned by hedge funds and other institutional investors.

PHINIA Stock Performance

PHIN opened at $44.57 on Tuesday. The stock has a market cap of $1.77 billion, a P/E ratio of 25.32, a P/E/G ratio of 0.48 and a beta of 1.55. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.85 and a quick ratio of 1.36. The stock’s 50 day simple moving average is $42.72 and its 200 day simple moving average is $45.53. PHINIA has a 1-year low of $36.25 and a 1-year high of $57.23.

PHINIA (NYSE:PHIN) last announced its earnings results on Friday, April 25th. The company reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.10). PHINIA had a net margin of 2.28% and a return on equity of 9.88%. The company had revenue of $796.00 million for the quarter, compared to analyst estimates of $813.24 million. During the same quarter last year, the company posted $1.08 EPS. PHINIA’s quarterly revenue was down 7.8% compared to the same quarter last year. As a group, equities analysts anticipate that PHINIA will post 4.21 EPS for the current fiscal year.

PHINIA Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were paid a $0.27 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $1.08 dividend on an annualized basis and a yield of 2.42%. PHINIA’s payout ratio is currently 61.36%.

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.