PHINIA Inc. (NYSE:PHIN) Receives $53.17 Consensus PT from Analysts

PHINIA Inc. (NYSE:PHIN) has been given an average rating of “Moderate Buy” by the seven analysts that are currently covering the company, Marketbeat reports. Three 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 company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $53.1667.

Several research analysts have recently issued reports on the stock. BNP Paribas lowered shares of PHINIA from an “outperform” rating to a “neutral” rating and set a $46.00 target price on the stock. in a research note on Wednesday, April 23rd. Bank of America raised their target price on shares of PHINIA from $53.00 to $55.00 and gave the company a “buy” rating in a research note on Thursday, May 15th. Wall Street Zen raised shares of PHINIA from a “hold” rating to a “strong-buy” rating in a research note on Saturday, July 26th. Morgan Stanley raised their target price on shares of PHINIA from $46.00 to $48.00 and gave the company an “equal weight” rating in a research note on Tuesday. Finally, UBS Group reaffirmed a “neutral” rating and issued a $55.00 target price (up previously from $52.00) on shares of PHINIA in a research note on Friday, July 25th.

PHINIA Price Performance

NYSE:PHIN opened at $55.23 on Wednesday. The company has a 50-day moving average of $47.96 and a 200-day moving average of $45.59. The company has a market capitalization of $2.15 billion, a price-to-earnings ratio of 21.32, a PEG ratio of 0.50 and a beta of 1.51. PHINIA has a 52 week low of $36.25 and a 52 week high of $57.23. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.36 and a current ratio of 1.86.

PHINIA (NYSE:PHIN) last announced its earnings results on Thursday, July 24th. The company reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.28. The business had revenue of $890.00 million during the quarter, compared to analysts’ expectations of $836.51 million. PHINIA had a net margin of 3.22% and a return on equity of 10.74%. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter last year, the company posted $0.88 EPS. As a group, equities research analysts anticipate that PHINIA will post 4.21 earnings per share for the current fiscal year.

PHINIA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 22nd will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Friday, August 22nd. PHINIA’s payout ratio is presently 41.70%.

Insiders Place Their Bets

In related news, Director Meggan M. Walsh acquired 1,400 shares of the firm’s stock in a transaction 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 completion of the acquisition, the director directly owned 7,492 shares in the company, valued at approximately $319,983.32. This trade represents a 22.98% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On PHINIA

Several institutional investors and hedge funds have recently modified their holdings of PHIN. CX Institutional bought a new position in shares of PHINIA in the first quarter worth about $31,000. EMC Capital Management bought a new position in shares of PHINIA in the second quarter worth about $39,000. TD Waterhouse Canada Inc. lifted its holdings in shares of PHINIA by 350.0% in the second quarter. TD Waterhouse Canada Inc. now owns 900 shares of the company’s stock worth $42,000 after acquiring an additional 700 shares during the last quarter. Brooklyn Investment Group lifted its holdings in shares of PHINIA by 853.0% in the first quarter. Brooklyn Investment Group now owns 1,582 shares of the company’s stock worth $67,000 after acquiring an additional 1,416 shares during the last quarter. Finally, Traub Capital Management LLC bought a new position in shares of PHINIA in the second quarter worth about $77,000. 90.94% of the stock is currently owned by institutional investors and hedge funds.

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.