PHINIA (NYSE:PHIN) Upgraded to Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded PHINIA to “Buy” from “Hold.” MarketBeat’s analyst consensus is “Moderate Buy,” with an average price target of $86.50.
• PHINIA shares opened at $66.19, down 0.1%, and remain below their 50-day and 200-day moving averages of roughly $74. The company’s latest quarterly EPS of $1.53 missed estimates, although revenue of $940 million exceeded expectations.
• Institutional ownership remains high at 90.94%, with several major funds increasing their positions. However, company insiders sold 44,714 shares worth approximately $3.03 million over the past three months.

PHINIA (NYSE:PHIN - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a report released on Monday, Wall Street Zen reports.

PHIN has been the subject of several other reports. Weiss Ratings raised PHINIA from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday, September 1st. Zacks Research lowered PHINIA from a "hold" rating to a "strong sell" rating in a research report on Monday, August 3rd. UBS Group dropped their price objective on PHINIA from $81.00 to $80.00 and set a "neutral" rating on the stock in a research note on Friday, July 31st. Northland Securities set a $98.00 price objective on PHINIA in a report on Friday, July 31st. Finally, KeyCorp initiated coverage on shares of PHINIA in a research note on Friday, June 12th. They issued an "overweight" rating and a $105.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $86.50.

PHINIA Stock Down 0.1%

Shares of PHIN stock opened at $66.19 on Monday. 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 1 year low of $50.79 and a 1 year high of $86.93. The firm's fifty day moving average price is $74.34 and its two-hundred day moving average price is $74.24. The firm has a market capitalization of $2.43 billion, a P/E ratio of 18.97 and a beta of 1.14.

PHINIA (NYSE:PHIN - Get Free Report) last posted its quarterly earnings data 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 analyst estimates of $918.83 million. PHINIA had a return on equity of 13.86% and a net margin of 3.73%. On average, equities analysts predict that PHINIA will post 6.18 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Matthew Logar sold 1,257 shares of the stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $66.33, for a total value of $83,376.81. Following the sale, the senior vice president owned 15,576 shares in the company, valued at approximately $1,033,156.08. This represents a 7.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Christopher Gustanski sold 2,097 shares of the firm's 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 sale, the vice president directly owned 11,301 shares of the company's stock, valued at $756,827.97. This represents a 15.65% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 44,714 shares of company stock worth $3,029,743 in the last three months. 2.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On PHINIA

Several large investors have recently modified their holdings of PHIN. California State Teachers Retirement System boosted its holdings in shares of PHINIA by 7,907.8% during the 2nd quarter. California State Teachers Retirement System now owns 3,750,388 shares of the company's stock worth $308,919,000 after buying an additional 3,703,554 shares during the period. Lodge Hill Capital LLC raised its holdings in PHINIA by 450.8% in the 1st quarter. Lodge Hill Capital LLC now owns 2,381,150 shares of the company's stock valued at $162,966,000 after acquiring an additional 1,948,820 shares during the period. ION Fund Management Ltd bought a new position in PHINIA in the 4th quarter valued at about $32,285,000. Freestone Grove Partners LP boosted its holdings in shares of PHINIA by 1,206.1% during the fourth quarter. Freestone Grove Partners LP now owns 557,097 shares of the company's stock worth $34,924,000 after acquiring an additional 514,442 shares during the period. Finally, UBS Group AG boosted its holdings in shares of PHINIA by 222.9% during the third quarter. UBS Group AG now owns 466,053 shares of the company's stock worth $26,789,000 after acquiring an additional 321,708 shares during the period. 90.94% of the stock is owned by institutional investors.

PHINIA Company Profile

PHINIA Inc NYSE: PHIN is a global supplier of fuel systems, electrical systems and aftermarket products for commercial vehicles, passenger vehicles and industrial applications. The company's products are designed to support internal-combustion, hybrid and other powertrain technologies.

Its product portfolio includes fuel injectors, fuel pumps, fuel modules, electronic control units, sensors, actuators, ignition components, starters and alternators. PHINIA also provides replacement parts, diagnostic equipment and related service solutions through its aftermarket business, which serves original-equipment and independent repair channels.

PHINIA was established as an independent public company in 2023 through the separation of BorgWarner's fuel systems and aftermarket businesses.

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