Bank of America Issues Positive Forecast for PHINIA (NYSE:PHIN) Stock Price

PHINIA (NYSE:PHIN) had its price objective increased by Bank of America from $53.00 to $55.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other analysts have also weighed in on the company. Northland Capmk raised PHINIA to a “strong-buy” rating in a research note on Thursday, January 30th. CL King assumed coverage on PHINIA in a research note on Monday, March 24th. They set a “buy” rating and a $54.00 price objective for the company. UBS Group reissued a “neutral” rating and set a $45.00 price objective (down previously from $56.00) on shares of PHINIA in a research note on Thursday, April 10th. BNP Paribas lowered 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, Northland Securities began coverage on PHINIA in a research note on Thursday, January 30th. They issued an “outperform” rating and a $61.00 price target for the company. 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’s stock. According to MarketBeat, PHINIA presently has a consensus rating of “Moderate Buy” and an average price target of $51.83.

PHINIA Stock Performance

NYSE:PHIN opened at $44.18 on Thursday. The firm has a market cap of $1.76 billion, a PE ratio of 25.25 and a beta of 1.59. PHINIA has a fifty-two week low of $36.25 and a fifty-two week high of $57.23. 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 business has a 50 day moving average price of $41.86 and a 200-day moving average price of $47.39.

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

Insider Buying and Selling

In other news, CEO Brady D. Ericson acquired 10,000 shares of the firm’s stock in a transaction on Wednesday, April 30th. The stock was acquired at an average price of $39.73 per share, for a total transaction of $397,300.00. Following the completion of the acquisition, the chief executive officer now owns 436,486 shares in the company, valued at $17,341,588.78. This trade represents a 2.34% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On PHINIA

A number of institutional investors have recently added to or reduced their stakes in PHIN. Barclays PLC raised its holdings in PHINIA by 336.2% in the third quarter. Barclays PLC now owns 72,805 shares of the company’s stock worth $3,351,000 after purchasing an additional 56,114 shares in the last quarter. Principal Financial Group Inc. raised its holdings in PHINIA by 1.1% in the third quarter. Principal Financial Group Inc. now owns 227,742 shares of the company’s stock worth $10,483,000 after purchasing an additional 2,422 shares in the last quarter. Ritholtz Wealth Management raised its holdings in PHINIA by 50.8% in the fourth quarter. Ritholtz Wealth Management now owns 28,046 shares of the company’s stock worth $1,351,000 after purchasing an additional 9,442 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in PHINIA by 30,454.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 13,444 shares of the company’s stock worth $648,000 after purchasing an additional 13,400 shares in the last quarter. Finally, KBC Group NV raised its holdings in PHINIA by 45.8% in the fourth quarter. KBC Group NV now owns 2,180 shares of the company’s stock worth $105,000 after purchasing an additional 685 shares in the last quarter. Institutional investors 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.