Morgan Stanley Forecasts Strong Price Appreciation for PHINIA (NYSE:PHIN) Stock

Key Points

• Morgan Stanley raised the price target for PHINIA (NYSE:PHIN) from $46.00 to $48.00, indicating a potential downside of 8.96% from its current price.
• Multiple analysts have varying ratings for PHINIA, with Bank of America setting a target of $55.00 and upgrading their rating to "buy," while BNP Paribas downgraded it to a "neutral" rating with a $46.00 target.
• The company reported strong quarterly earnings of $1.27 EPS, exceeding analyst estimates, along with a revenue of $890 million, which reflects a 2.5% year-over-year increase.

PHINIA (NYSE:PHIN - Get Free Report) had its price objective increased by Morgan Stanley from $46.00 to $48.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Morgan Stanley's price objective indicates a potential downside of 8.96% from the stock's current price.

A number of other equities analysts also recently weighed in on PHIN. Bank of America boosted their target price on shares of PHINIA from $53.00 to $55.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. UBS Group reaffirmed a "neutral" rating and set a $55.00 price target (up from $52.00) on shares of PHINIA in a research report on Friday, July 25th. Wall Street Zen raised shares of PHINIA from a "hold" rating to a "strong-buy" rating in a research report on Saturday, July 26th. Finally, BNP Paribas downgraded shares of PHINIA from an "outperform" rating to a "neutral" rating and set a $46.00 price objective on the stock. in a research note on Wednesday, April 23rd. Three analysts have rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $53.17.

PHINIA Stock Performance

Shares of PHIN opened at $52.73 on Tuesday. The company's fifty day moving average is $46.92 and its 200-day moving average is $45.38. PHINIA has a 12 month low of $36.25 and a 12 month high of $57.23. The firm has a market cap of $2.05 billion, a price-to-earnings ratio of 20.36, a price-to-earnings-growth ratio of 0.48 and a beta of 1.51. The company has a quick ratio of 1.36, a current ratio of 1.86 and a debt-to-equity ratio of 0.59.

PHINIA (NYSE:PHIN - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The company reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.28. The company had revenue of $890.00 million for the quarter, compared to analyst estimates of $836.51 million. PHINIA had a net margin of 3.22% and a return on equity of 10.74%. The business's quarterly revenue was up 2.5% on a year-over-year basis. During the same period last year, the business posted $0.88 EPS. Equities analysts expect that PHINIA will post 4.21 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Meggan M. Walsh acquired 1,400 shares of the stock in a transaction on Thursday, May 22nd. The stock was acquired at an average price of $42.71 per share, with a total value of $59,794.00. Following the completion of the transaction, the director owned 7,492 shares of the company's stock, valued at $319,983.32. This represents a 22.98% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.00% of the company's stock.

Hedge Funds Weigh In On PHINIA

Several institutional investors and hedge funds have recently modified their holdings of PHIN. Voss Capital LP increased its holdings in shares of PHINIA by 45.9% during the first quarter. Voss Capital LP now owns 2,067,342 shares of the company's stock valued at $87,717,000 after acquiring an additional 650,261 shares in the last quarter. Millennium Management LLC increased its holdings in shares of PHINIA by 28.3% during the fourth quarter. Millennium Management LLC now owns 2,424,949 shares of the company's stock valued at $116,810,000 after acquiring an additional 535,222 shares in the last quarter. First Trust Advisors LP increased its holdings in PHINIA by 32.6% in the 4th quarter. First Trust Advisors LP now owns 1,866,894 shares of the company's stock worth $89,928,000 after buying an additional 458,650 shares in the last quarter. Pacer Advisors Inc. bought a new stake in PHINIA in the 1st quarter worth about $14,880,000. Finally, Nuveen LLC bought a new stake in PHINIA in the 1st quarter worth about $10,939,000. 90.94% of the stock is currently owned by 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.

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