PHINIA (NYSE:PHIN) Downgraded by Wall Street Zen to "Hold"

Key Points

• Wall Street Zen downgraded PHINIA to “Hold” from “Buy,” while analyst sentiment remains “Moderate Buy” overall with an average price target of $82.00. Zacks Research issued a “Strong Sell,” while other firms maintained neutral, buy, or overweight ratings.
• PHINIA shares opened at $69.12, below their 50-day and 200-day moving averages. The company’s latest quarterly earnings missed estimates slightly at $1.53 per share versus $1.57 expected, although revenue of $940 million exceeded forecasts.
• Insiders sold 31,337 shares worth approximately $2.19 million over the past three months, including a CEO sale primarily to cover tax withholding on vested equity awards. Institutional investors own 90.94% of PHINIA’s outstanding stock.

PHINIA (NYSE:PHIN - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued on Sunday, Wall Street Zen reports.

Several other equities research analysts have also recently weighed in on PHIN. Zacks Research cut shares of PHINIA from a "hold" rating to a "strong sell" rating in a research report on Monday, August 3rd. KeyCorp began coverage on shares of PHINIA in a research note on Friday, June 12th. They issued an "overweight" rating and a $105.00 price objective for the company. UBS Group cut their price target on PHINIA from $81.00 to $80.00 and set a "neutral" rating on the stock in a report on Friday, July 31st. Weiss Ratings raised PHINIA from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday. Finally, Northland Securities set a $98.00 price objective on PHINIA in a research note on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, PHINIA has an average rating of "Moderate Buy" and an average target price of $82.00.

PHINIA Stock Performance

Shares of NYSE PHIN opened at $69.12 on Friday. The firm has a 50 day moving average of $75.49 and a 200 day moving average of $74.56. The firm has a market capitalization of $2.53 billion, a price-to-earnings ratio of 19.81 and a beta of 1.14. The company has a current ratio of 1.81, a quick ratio of 1.34 and a debt-to-equity ratio of 0.63. PHINIA has a 12-month low of $50.79 and a 12-month high of $86.93.

PHINIA (NYSE:PHIN - Get Free Report) last released its earnings results on Thursday, July 30th. The company reported $1.53 EPS for the quarter, missing analysts' consensus estimates of $1.57 by ($0.04). The business had revenue of $940.00 million for the quarter, compared to the consensus estimate of $918.83 million. PHINIA had a net margin of 3.73% and a return on equity of 13.86%. On average, research analysts anticipate that PHINIA will post 6.18 earnings per share for the current year.

Insider Activity

In other news, CEO Brady Ericson sold 27,860 shares of the company's stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $68.39, for a total transaction of $1,905,345.40. Following the completion of the transaction, the chief executive officer directly owned 330,497 shares of the company's stock, valued at $22,602,689.83. This represents a 7.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, VP Samantha Pombier sold 2,227 shares of the stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $82.36, for a total value of $183,415.72. Following the transaction, the vice president owned 6,637 shares in the company, valued at $546,623.32. This trade represents a 25.12% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 31,337 shares of company stock worth $2,189,524 over the last three months. 2.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PHINIA

Large investors have recently bought and sold shares of the company. Larson Financial Group LLC lifted its position in shares of PHINIA by 151.5% in the fourth quarter. Larson Financial Group LLC now owns 425 shares of the company's stock valued at $27,000 after acquiring an additional 256 shares in the last quarter. Nykredit A S purchased a new position in PHINIA in the 2nd quarter valued at $38,000. Federation des caisses Desjardins du Quebec boosted its stake in PHINIA by 2,500.0% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 780 shares of the company's stock worth $49,000 after purchasing an additional 750 shares during the last quarter. State of Wyoming acquired a new stake in PHINIA during the 2nd quarter worth $60,000. Finally, Hantz Financial Services Inc. grew its holdings in shares of PHINIA by 76.7% during the fourth quarter. Hantz Financial Services Inc. now owns 979 shares of the company's stock worth $61,000 after buying an additional 425 shares in the last quarter. 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. The Fuel Systems segment provides advanced fuel injection systems, including pumps, injectors, fuel rail assemblies, and engine control modules; fuel delivery modules; canisters; sensors; and electronic control modules.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source