PHINIA Inc. (NYSE:PHIN) Given Average Rating of "Moderate Buy" by Brokerages

Shares of PHINIA Inc. (NYSE:PHIN - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the seven analysts that are currently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $51.50.

Several brokerages have weighed in on PHIN. UBS Group restated a "neutral" rating and set a $45.00 price target (down previously from $56.00) on shares of PHINIA in a report on Thursday, April 10th. Bank of America began coverage on shares of PHINIA in a report on Thursday, April 10th. They issued a "buy" rating and a $53.00 target price on the stock. Northland Securities assumed coverage on shares of PHINIA in a report on Thursday, January 30th. They set an "outperform" rating and a $61.00 price target for the company. CL King initiated coverage on shares of PHINIA in a report on Monday, March 24th. They issued a "buy" rating and a $54.00 price objective on the stock. Finally, Northland Capmk upgraded shares of PHINIA to a "strong-buy" rating in a research note on Thursday, January 30th.

Insider Activity at PHINIA

In other news, CEO Brady D. Ericson bought 10,000 shares of the firm's stock in a transaction that occurred on Wednesday, April 30th. The stock was purchased at an average cost of $39.73 per share, with a total value of $397,300.00. Following the transaction, the chief executive officer now directly owns 436,486 shares in the company, valued at $17,341,588.78. This trade represents a 2.34 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On PHINIA

Hedge funds have recently modified their holdings of the business. Smartleaf Asset Management LLC grew its position in PHINIA by 149.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 698 shares of the company's stock worth $33,000 after purchasing an additional 418 shares during the last quarter. CX Institutional acquired a new stake in shares of PHINIA during the first quarter worth about $31,000. KBC Group NV grew its holdings in shares of PHINIA by 45.8% during the fourth quarter. KBC Group NV now owns 2,180 shares of the company's stock worth $105,000 after buying an additional 685 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in PHINIA in the 4th quarter valued at about $144,000. Finally, AlphaQuest LLC purchased a new stake in PHINIA during the 4th quarter valued at approximately $173,000. 90.94% of the stock is currently owned by hedge funds and other institutional investors.

PHINIA Stock Down 0.7 %

Shares of PHIN stock traded down $0.29 during trading on Monday, reaching $41.66. The company's stock had a trading volume of 56,024 shares, compared to its average volume of 557,877. PHINIA has a 1-year low of $36.25 and a 1-year high of $57.23. The stock's 50-day moving average price is $41.84 and its 200 day moving average price is $47.43. The company has a market capitalization of $1.66 billion, a price-to-earnings ratio of 23.81 and a beta of 1.59. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.90 and a quick ratio of 1.44.

PHINIA (NYSE:PHIN - Get Free Report) last posted its quarterly earnings results on Friday, April 25th. The company reported $0.94 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.10). The business had revenue of $796.00 million during the quarter, compared to analyst estimates of $813.24 million. PHINIA had a return on equity of 10.12% and a net margin of 2.32%. The business's revenue was down 7.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.08 EPS. On average, research analysts anticipate that PHINIA will post 4.21 EPS for the current year.

PHINIA Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a dividend of $0.27 per share. This is a positive change from PHINIA's previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a yield of 2.59%. The ex-dividend date was Friday, February 28th. PHINIA's dividend payout ratio (DPR) is currently 61.36%.

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.