PHINIA (NYSE:PHIN) Price Target Raised to $69.00

Key Points

• UBS raised PHINIA’s price target to $69 from $68 while maintaining a “neutral” rating, implying roughly 9.9% upside from the prior close. Analysts overall assign the stock a “Moderate Buy” rating with an average target of $83.75.
• PHINIA reported quarterly EPS of $1.83, exceeding the $1.68 consensus estimate, although revenue of $912 million fell short of expectations. Analysts project full-year EPS of approximately $6.25.
• The stock opened at $62.78, with a $2.30 billion market capitalization, and has traded between $51.28 and $86.93 over the past year. Insiders sold 55,270 shares worth about $3.7 million over the last 90 days, while institutional investors own 90.94% of shares.

PHINIA (NYSE:PHIN - Get Free Report) had its price objective hoisted by investment analysts at UBS Group from $68.00 to $69.00 in a research note issued on Friday, Benzinga reports. The firm currently has a "neutral" rating on the stock. UBS Group's price target indicates a potential upside of 9.91% from the stock's previous close.

PHIN has been the subject of a number of other reports. Wall Street Zen downgraded PHINIA from a "buy" rating to a "hold" rating in a report on Saturday, October 10th. Northland Securities set a $98.00 target price on PHINIA in a report on Friday, July 31st. Zacks Research upgraded shares of PHINIA from a "strong sell" rating to a "hold" rating in a report on Tuesday, September 29th. Finally, Weiss Ratings downgraded shares of PHINIA from a "buy (b)" rating to a "buy (b-)" rating in a research note on Wednesday, September 16th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $83.75.

PHINIA Stock Performance

NYSE PHIN opened at $62.78 on Friday. The business's 50-day moving average price is $62.07 and its 200 day moving average price is $71.32. The company has a current ratio of 1.70, a quick ratio of 1.28 and a debt-to-equity ratio of 0.64. PHINIA has a twelve month low of $51.28 and a twelve month high of $86.93. The company has a market capitalization of $2.30 billion, a PE ratio of 12.66 and a beta of 1.19.

PHINIA (NYSE:PHIN - Get Free Report) last posted its quarterly earnings results on Thursday, October 29th. The company reported $1.83 EPS for the quarter, beating the consensus estimate of $1.68 by $0.15. PHINIA had a return on equity of 14.32% and a net margin of 5.22%. The company had revenue of $912.00 million during the quarter, compared to analysts' expectations of $928.21 million. On average, research analysts predict that PHINIA will post 6.25 earnings per share for the current year.

Insider Activity at PHINIA

In related news, VP Christopher Gustanski sold 2,097 shares of PHINIA stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $66.97, for a total value of $140,436.09. Following the completion of the sale, the vice president owned 11,301 shares in the company, valued at approximately $756,827.97. The trade was a 15.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Todd Anderson sold 3,056 shares of the firm's stock in a transaction on Friday, September 11th. The stock was sold at an average price of $66.41, for a total value of $202,948.96. Following the transaction, the vice president owned 26,736 shares in the company, valued at $1,775,537.76. This trade represents a 10.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 55,270 shares of company stock worth $3,698,592. 2.20% of the stock is currently owned by insiders.

Institutional Trading of PHINIA

Several hedge funds and other institutional investors have recently modified their holdings of PHIN. Covestor Ltd increased its holdings in shares of PHINIA by 724.3% in the 3rd quarter. Covestor Ltd now owns 1,459 shares of the company's stock valued at $86,000 after purchasing an additional 1,282 shares during the period. State of Wyoming increased its stake in PHINIA by 95.8% in the 3rd quarter. State of Wyoming now owns 1,878 shares of the company's stock valued at $112,000 after buying an additional 919 shares during the period. Signaturefd LLC increased its stake in PHINIA by 29.5% in the 3rd quarter. Signaturefd LLC now owns 1,023 shares of the company's stock valued at $61,000 after buying an additional 233 shares during the period. Fifth Third Wealth Advisors LLC acquired a new stake in shares of PHINIA during the 3rd quarter valued at $410,000. Finally, Sterling Capital Management LLC boosted its stake in shares of PHINIA by 23.4% during the 3rd quarter. Sterling Capital Management LLC now owns 20,799 shares of the company's stock valued at $1,236,000 after buying an additional 3,942 shares during the period. Institutional investors and hedge funds own 90.94% of the company's stock.

PHINIA Company Profile

PHINIA Inc NYSE: PHIN is a global supplier of fuel systems, electrical systems and aftermarket products for automotive, commercial vehicle and industrial applications. The company develops technologies that support the performance, efficiency and emissions management of internal-combustion engines and other propulsion systems.

Its products include fuel injectors, fuel pumps and modules, fuel-system controls, ignition components, sensors, actuators and electronic control systems. PHINIA also supplies diesel fuel systems and related technologies for commercial vehicles and off-highway equipment, as well as replacement parts, service products and solutions through its aftermarket business.

PHINIA was established as an independent public company in 2023 after being spun off from BorgWarner.

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