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 target price hoisted by research analysts at Morgan Stanley from $46.00 to $48.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Morgan Stanley's price objective would indicate a potential downside of 13.09% from the stock's current price.

Other research analysts have also recently issued reports about the company. Wall Street Zen raised PHINIA from a "hold" rating to a "strong-buy" rating in a research note on Saturday, July 26th. Bank of America boosted their target price on PHINIA from $53.00 to $55.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. BNP Paribas cut PHINIA from an "outperform" rating to a "neutral" rating and set a $46.00 target price for the company. in a research note on Wednesday, April 23rd. Finally, UBS Group reissued a "neutral" rating and issued a $55.00 target price (up from $52.00) on shares of PHINIA in a research note on Friday, July 25th. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $53.17.

PHINIA Trading Down 1.2%

Shares of NYSE:PHIN traded down $0.66 during midday trading on Tuesday, hitting $55.23. The company had a trading volume of 295,178 shares, compared to its average volume of 476,336. PHINIA has a 12 month low of $36.25 and a 12 month high of $57.23. The company has a current ratio of 1.86, a quick ratio of 1.36 and a debt-to-equity ratio of 0.59. The stock has a market cap of $2.15 billion, a price-to-earnings ratio of 21.32, a PEG ratio of 0.50 and a beta of 1.51. The firm has a fifty day simple moving average of $47.96 and a 200 day simple moving average of $45.59.

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. PHINIA had a return on equity of 10.74% and a net margin of 3.22%. The business had revenue of $890.00 million for the quarter, compared to analyst estimates of $836.51 million. During the same period last year, the company earned $0.88 EPS. The firm's revenue was up 2.5% on a year-over-year basis. On average, analysts predict that PHINIA will post 4.21 EPS for the current year.

Insider Transactions at PHINIA

In related news, Director Meggan M. Walsh bought 1,400 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The shares were acquired at an average price of $42.71 per share, for a total transaction of $59,794.00. Following the completion of the acquisition, the director owned 7,492 shares of the company's stock, valued at approximately $319,983.32. The trade was a 22.98% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 2.00% of the company's stock.

Hedge Funds Weigh In On PHINIA

A number of institutional investors have recently bought and sold shares of PHIN. CX Institutional acquired a new position in PHINIA during the first quarter worth approximately $31,000. EMC Capital Management acquired a new position in PHINIA during the second quarter worth approximately $39,000. TD Waterhouse Canada Inc. increased its position in PHINIA by 350.0% during the second quarter. TD Waterhouse Canada Inc. now owns 900 shares of the company's stock worth $42,000 after buying an additional 700 shares during the last quarter. Brooklyn Investment Group increased its position in PHINIA by 853.0% during the first quarter. Brooklyn Investment Group now owns 1,582 shares of the company's stock worth $67,000 after buying an additional 1,416 shares during the last quarter. Finally, Traub Capital Management LLC acquired a new position in PHINIA during the second quarter worth approximately $77,000. Institutional investors and hedge funds 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.