Bank of America Boosts PHINIA (NYSE:PHIN) Price Target to $64.00

Key Points

• Bank of America has raised its price target for PHINIA (NYSE:PHIN) from $60.00 to $64.00, indicating a potential upside of 10.09% from its current stock price and maintaining a "buy" rating.
• PHINIA recently reported earnings of $1.27 per share, exceeding analysts' expectations of $0.99 and demonstrating a year-over-year revenue increase of 2.5% to $890 million.
• The stock currently holds an average rating of "Moderate Buy," with varying ratings from research analysts, including one "Strong Buy," three "Buy," and three "Hold" ratings.

PHINIA (NYSE:PHIN - Get Free Report) had its price target increased by Bank of America from $60.00 to $64.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the stock. Bank of America's target price suggests a potential upside of 10.37% from the stock's current price.

Other equities analysts also recently issued reports about the company. Wall Street Zen raised PHINIA from a "hold" rating to a "strong-buy" rating in a research report on Saturday, July 26th. Morgan Stanley upped their target price on PHINIA from $46.00 to $48.00 and gave the company an "equal weight" rating in a research report on Tuesday, August 12th. Finally, UBS Group reaffirmed a "neutral" rating and issued a $55.00 price target (up from $52.00) on shares of PHINIA in a report on Friday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $54.67.

PHINIA Stock Down 0.4%

Shares of PHIN stock traded down $0.22 during trading hours on Wednesday, reaching $57.99. 186,375 shares of the company's stock were exchanged, compared to its average volume of 498,972. The stock's 50 day moving average is $53.49 and its 200-day moving average is $46.55. The company has a market cap of $2.26 billion, a price-to-earnings ratio of 22.40, a P/E/G ratio of 0.52 and a beta of 1.53. The company has a current ratio of 1.86, a quick ratio of 1.36 and a debt-to-equity ratio of 0.59. PHINIA has a fifty-two week low of $36.25 and a fifty-two week high of $59.88.

PHINIA (NYSE:PHIN - Get Free Report) last released its earnings results on Thursday, July 24th. The company reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.28. PHINIA had a return on equity of 10.74% and a net margin of 3.22%.The firm had revenue of $890.00 million for the quarter, compared to the consensus estimate of $836.51 million. During the same period in the prior year, the firm earned $0.88 EPS. The firm's revenue was up 2.5% on a year-over-year basis. PHINIA has set its FY 2025 guidance at EPS. Analysts predict that PHINIA will post 4.21 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Squarepoint Ops LLC purchased a new position in PHINIA in the 2nd quarter worth approximately $1,016,000. Neuberger Berman Group LLC increased its holdings in shares of PHINIA by 6.7% during the 2nd quarter. Neuberger Berman Group LLC now owns 6,221 shares of the company's stock worth $277,000 after buying an additional 390 shares during the last quarter. State of Wyoming acquired a new stake in shares of PHINIA during the 2nd quarter worth approximately $60,000. Nomura Holdings Inc. acquired a new stake in shares of PHINIA during the 2nd quarter worth approximately $340,000. Finally, Public Sector Pension Investment Board increased its holdings in shares of PHINIA by 4.4% during the 2nd quarter. Public Sector Pension Investment Board now owns 160,829 shares of the company's stock worth $7,155,000 after buying an additional 6,849 shares during the last quarter. 90.94% of the stock is owned by hedge funds and other institutional investors.

PHINIA Company Profile

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.