PHINIA (NYSE:PHIN) Given New $64.00 Price Target at Bank of America

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 boosted by Bank of America from $60.00 to $64.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Bank of America's price target suggests a potential upside of 9.90% from the stock's current price.

A number of other analysts have also issued reports on PHIN. UBS Group reaffirmed a "neutral" rating and issued a $55.00 target price (up previously from $52.00) on shares of PHINIA in a report on Friday, July 25th. Wall Street Zen raised PHINIA from a "hold" rating to a "strong-buy" rating in a report on Saturday, July 26th. Finally, Morgan Stanley raised their target price on PHINIA from $46.00 to $48.00 and gave the company an "equal weight" rating in a report on Tuesday, August 12th. One investment 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 stock. Based on data from MarketBeat.com, PHINIA currently has a consensus rating of "Moderate Buy" and an average price target of $54.67.

PHINIA Stock Down 2.2%

Shares of NYSE PHIN traded down $1.30 during mid-day trading on Wednesday, reaching $58.24. 291,773 shares of the company traded hands, compared to its average volume of 377,706. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.36 and a current ratio of 1.86. The stock has a market cap of $2.27 billion, a PE ratio of 22.48, a price-to-earnings-growth ratio of 0.53 and a beta of 1.53. The company's fifty day moving average is $53.49 and its two-hundred day moving average is $46.59. 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 issued its quarterly earnings data on Thursday, July 24th. The company reported $1.27 EPS for the quarter, beating analysts' consensus estimates of $0.99 by $0.28. The business had revenue of $890.00 million for the quarter, compared to analyst estimates of $836.51 million. PHINIA had a return on equity of 10.74% and a net margin of 3.22%.The firm's revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.88 EPS. PHINIA has set its FY 2025 guidance at EPS. On average, analysts expect that PHINIA will post 4.21 earnings per share for the current year.

Hedge Funds Weigh In On PHINIA

Several institutional investors have recently bought and sold shares of PHIN. Mercer Global Advisors Inc. ADV raised its position in PHINIA by 14.1% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 9,034 shares of the company's stock valued at $435,000 after purchasing an additional 1,118 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of PHINIA in the 4th quarter valued at $299,000. Balyasny Asset Management L.P. acquired a new stake in shares of PHINIA in the 4th quarter valued at $342,000. Deutsche Bank AG increased its stake in shares of PHINIA by 44.8% in the 4th quarter. Deutsche Bank AG now owns 38,402 shares of the company's stock valued at $1,850,000 after buying an additional 11,883 shares during the period. Finally, Ethic Inc. acquired a new stake in shares of PHINIA in the 4th quarter valued at $651,000. Institutional investors own 90.94% of the company's stock.

About PHINIA

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.