PHINIA (NYSE:PHIN) Upgraded to "Hold" at Zacks Research

Key Points

• Zacks Research upgraded PHINIA from “strong sell” to “hold,” while analysts overall maintain a “Moderate Buy” consensus with an average price target of $86.50.
• PHINIA reported quarterly earnings of $1.53 per share, slightly below the $1.57 consensus, but revenue of $940 million exceeded expectations of $918.83 million.
• The stock opened at $59.51, below its 50-day and 200-day moving averages, while insiders sold 55,270 shares worth approximately $3.7 million over the past 90 days.

PHINIA (NYSE:PHIN - Get Free Report) was upgraded by analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a report issued on Tuesday, Zacks reports.

A number of other brokerages have also recently weighed in on PHIN. KeyCorp started coverage on PHINIA in a research note on Friday, June 12th. They issued an "overweight" rating and a $105.00 price target on the stock. Northland Securities set a $98.00 target price on shares of PHINIA in a report on Friday, July 31st. Weiss Ratings downgraded shares of PHINIA from a "buy (b)" rating to a "buy (b-)" rating in a research report on Wednesday, September 16th. Wall Street Zen upgraded shares of PHINIA from a "hold" rating to a "buy" rating in a report on Monday, September 14th. Finally, UBS Group cut their price target on shares of PHINIA from $81.00 to $80.00 and set a "neutral" rating on the stock in a report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, PHINIA presently has an average rating of "Moderate Buy" and an average price target of $86.50.

PHINIA Price Performance

NYSE PHIN opened at $59.51 on Tuesday. PHINIA has a 1 year low of $50.79 and a 1 year high of $86.93. The business's fifty day moving average is $69.70 and its two-hundred day moving average is $73.35. The stock has a market capitalization of $2.18 billion, a P/E ratio of 17.05 and a beta of 1.14. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.34 and a current ratio of 1.81.

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

Insider Buying and Selling at PHINIA

In other news, VP Todd L. Anderson sold 3,056 shares of the company's stock in a transaction on Friday, September 11th. The shares were sold at an average price of $66.41, for a total value of $202,948.96. Following the transaction, the vice president directly owned 26,736 shares of the company's stock, valued at approximately $1,775,537.76. This represents a 10.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Chris P. Gropp sold 13,500 shares of the firm's stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $66.71, for a total value of $900,585.00. Following the sale, the chief financial officer directly owned 43,823 shares of the company's stock, valued at $2,923,432.33. This trade represents a 23.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 55,270 shares of company stock valued at $3,698,592 in the last 90 days. Corporate insiders own 2.20% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of PHIN. Tidal Investments LLC raised its holdings in PHINIA by 11.7% during the second quarter. Tidal Investments LLC now owns 8,699 shares of the company's stock valued at $717,000 after buying an additional 914 shares in the last quarter. Integrated Wealth Concepts LLC bought a new stake in shares of PHINIA in the second quarter valued at approximately $39,000. Nykredit A S acquired a new position in PHINIA during the 2nd quarter valued at $38,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in PHINIA in the 2nd quarter valued at $346,000. Finally, Odyssean LLC bought a new stake in PHINIA in the 2nd quarter valued at $358,000. Institutional investors 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 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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