Bank of America Forecasts Strong Price Appreciation for PHINIA (NYSE:PHIN) Stock

PHINIA (NYSE:PHIN) had its target price boosted by analysts at Bank of America from $60.00 to $64.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Bank of America‘s price target would indicate a potential upside of 7.51% from the stock’s previous close.

A number of other research firms have also recently weighed in on PHIN. UBS Group reiterated a “neutral” rating and issued a $55.00 target price (up from $52.00) on shares of PHINIA in a research note on Friday, July 25th. Morgan Stanley upped their price target on shares of PHINIA from $46.00 to $48.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 12th. Finally, Wall Street Zen upgraded shares of PHINIA from a “hold” rating to a “strong-buy” rating in a research note on Saturday, July 26th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $54.67.

PHINIA Stock Up 2.7%

PHIN opened at $59.53 on Wednesday. The company has a quick ratio of 1.36, a current ratio of 1.86 and a debt-to-equity ratio of 0.59. The stock has a market cap of $2.32 billion, a price-to-earnings ratio of 22.98, a PEG ratio of 0.51 and a beta of 1.53. PHINIA has a twelve month low of $36.25 and a twelve month high of $59.60. The company’s 50-day moving average price is $53.28 and its two-hundred day moving average price is $46.53.

PHINIA (NYSE:PHIN) last released its earnings results on Thursday, July 24th. The company reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.28. The firm had revenue of $890.00 million for 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 company’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.88 earnings per share. PHINIA has set its FY 2025 guidance at EPS. As a group, equities analysts expect that PHINIA will post 4.21 earnings per share for the current year.

Institutional Trading of PHINIA

Institutional investors and hedge funds have recently bought and sold shares of the company. Janney Montgomery Scott LLC lifted its stake in PHINIA by 8.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 9,196 shares of the company’s stock worth $390,000 after purchasing an additional 698 shares in the last quarter. Principal Financial Group Inc. lifted its stake in PHINIA by 0.6% in the 1st quarter. Principal Financial Group Inc. now owns 229,854 shares of the company’s stock worth $9,753,000 after purchasing an additional 1,270 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in PHINIA by 1.6% in the 1st quarter. Nisa Investment Advisors LLC now owns 17,080 shares of the company’s stock worth $725,000 after purchasing an additional 274 shares in the last quarter. Victory Capital Management Inc. lifted its stake in PHINIA by 33.8% in the 1st quarter. Victory Capital Management Inc. now owns 236,760 shares of the company’s stock worth $10,046,000 after purchasing an additional 59,808 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in PHINIA in the 1st quarter worth approximately $357,000. 90.94% of the stock is currently owned by hedge funds and other institutional investors.

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.