PHINIA (NYSE:PHIN) Stock Rating Raised to Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded PHINIA from “hold” to “buy.” Overall analyst sentiment is “Moderate Buy,” with an average price target of $90.67.
• PHINIA reported quarterly EPS of $1.83, beating estimates of $1.68, while revenue of $912 million came in below the $928.21 million consensus.
• Shares opened at $68.80; company insiders sold 55,270 shares worth about $3.70 million during the last quarter.

PHINIA (NYSE:PHIN - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

Several other brokerages have also recently commented on PHIN. UBS Group raised their price objective on shares of PHINIA from $68.00 to $69.00 and gave the company a "neutral" rating in a research note on Friday, October 30th. Northland Securities set a $98.00 target price on shares of PHINIA in a research note on Friday, July 31st. Weiss Ratings cut PHINIA from a "buy (b)" rating to a "buy (b-)" rating in a research report on Wednesday, September 16th. Finally, Zacks Research upgraded shares of PHINIA from a "strong sell" rating to a "hold" rating in a research report on Tuesday, September 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $90.67.

PHINIA Price Performance

PHIN stock opened at $68.80 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.28 and a current ratio of 1.70. The firm's fifty day moving average is $61.99 and its 200 day moving average is $71.34. The firm has a market cap of $2.47 billion, a P/E ratio of 13.87 and a beta of 1.16. PHINIA has a 52 week low of $51.38 and a 52 week high of $86.93.

PHINIA (NYSE:PHIN - Get Free Report) last released its quarterly earnings data on Thursday, October 29th. The company reported $1.83 earnings per share for the quarter, beating analysts' consensus estimates of $1.68 by $0.15. The business had revenue of $912.00 million during the quarter, compared to analyst estimates of $928.21 million. PHINIA had a net margin of 5.22% and a return on equity of 14.32%. Research analysts predict that PHINIA will post 6.10 earnings per share for the current year.

Insider Buying and Selling at PHINIA

In related news, VP Todd Anderson sold 3,056 shares of the company's stock in a transaction on Friday, September 11th. The stock was sold at an average price of $66.41, for a total transaction of $202,948.96. Following the transaction, the vice president owned 26,736 shares of the company's stock, valued at $1,775,537.76. This represents a 10.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Chris Gropp sold 13,500 shares of the firm's stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $66.71, for a total value of $900,585.00. Following the sale, the chief financial officer owned 43,823 shares of the company's stock, valued at $2,923,432.33. This represents a 23.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 55,270 shares of company stock valued at $3,698,592. 2.20% of the stock is owned by company insiders.

Institutional Trading of PHINIA

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Nykredit A S bought a new stake in PHINIA during the 2nd quarter worth approximately $38,000. Integrated Wealth Concepts LLC purchased a new position in shares of PHINIA in the 2nd quarter valued at about $39,000. Fulcrum Asset Management LLP increased its position in PHINIA by 1,837.5% during the 3rd quarter. Fulcrum Asset Management LLP now owns 620 shares of the company's stock worth $37,000 after purchasing an additional 588 shares during the period. C M Bidwell & Associates Ltd. purchased a new stake in shares of PHINIA in the second quarter valued at $84,000. Finally, Signaturefd LLC raised its position in shares of 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 purchasing an additional 233 shares in the last quarter. Hedge funds and other institutional investors own 90.94% of the company's stock.

About PHINIA

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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