PHINIA (NYSE:PHIN) Coverage Initiated at CL King

CL King initiated coverage on shares of PHINIA (NYSE:PHIN) in a research note issued on Monday, MarketBeat reports. The firm set a “buy” rating and a $54.00 price target on the stock. CL King’s price target points to a potential upside of 19.10% from the company’s previous close.

Several other equities research analysts also recently issued reports on PHIN. Northland Securities assumed coverage on PHINIA in a report on Thursday, January 30th. They set an “outperform” rating and a $61.00 price target for the company. UBS Group raised their target price on shares of PHINIA from $55.00 to $57.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Finally, Northland Capmk upgraded shares of PHINIA to a “strong-buy” rating in a research report on Thursday, January 30th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $55.50.

PHINIA Price Performance

NYSE:PHIN opened at $45.34 on Monday. PHINIA has a 52-week low of $36.10 and a 52-week high of $57.23. The company has a market cap of $1.85 billion, a P/E ratio of 25.91 and a beta of 1.38. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.44 and a current ratio of 1.90. The stock’s 50-day simple moving average is $48.35 and its 200 day simple moving average is $48.73.

PHINIA (NYSE:PHIN) last posted its quarterly earnings results on Thursday, February 13th. The company reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.09). PHINIA had a net margin of 2.32% and a return on equity of 10.12%. The company had revenue of $833.00 million during the quarter, compared to the consensus estimate of $811.94 million. As a group, sell-side analysts forecast that PHINIA will post 4.21 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in PHIN. Intech Investment Management LLC bought a new stake in shares of PHINIA in the third quarter valued at approximately $390,000. Swedbank AB raised its holdings in PHINIA by 161.2% in the 3rd quarter. Swedbank AB now owns 66,752 shares of the company’s stock valued at $3,073,000 after acquiring an additional 41,200 shares in the last quarter. Hancock Whitney Corp lifted its position in shares of PHINIA by 122.0% during the 3rd quarter. Hancock Whitney Corp now owns 56,088 shares of the company’s stock valued at $2,582,000 after acquiring an additional 30,818 shares during the period. FMR LLC grew its holdings in shares of PHINIA by 7.2% during the 3rd quarter. FMR LLC now owns 86,817 shares of the company’s stock worth $3,996,000 after purchasing an additional 5,828 shares in the last quarter. Finally, MetLife Investment Management LLC increased its position in shares of PHINIA by 115.3% in the third quarter. MetLife Investment Management LLC now owns 24,790 shares of the company’s stock worth $1,141,000 after purchasing an additional 13,277 shares during the period. 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.