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

Shares of PHINIA Inc. (NYSE:PHIN - Get Free Report) have received an average rating of "Moderate Buy" from the seven brokerages that are covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $51.17.

Several equities research analysts have weighed in on PHIN shares. Morgan Stanley cut their price target on PHINIA from $50.00 to $46.00 and set an "equal weight" rating on the stock in a research report on Monday, May 19th. BNP Paribas lowered PHINIA from an "outperform" rating to a "neutral" rating and set a $46.00 target price on the stock. in a report on Wednesday, April 23rd. Bank of America boosted their price target on PHINIA from $53.00 to $55.00 and gave the company a "buy" rating in a report on Thursday, May 15th. UBS Group restated a "neutral" rating and issued a $45.00 price objective (down previously from $56.00) on shares of PHINIA in a research report on Thursday, April 10th. Finally, CL King assumed coverage on shares of PHINIA in a report on Monday, March 24th. They set a "buy" rating and a $54.00 target price for the company.

PHINIA Stock Performance

Shares of PHIN traded up $0.19 during trading hours on Tuesday, reaching $44.75. 650,885 shares of the company traded hands, compared to its average volume of 531,580. The company has a quick ratio of 1.36, a current ratio of 1.85 and a debt-to-equity ratio of 0.63. The business has a fifty day moving average price of $42.72 and a 200-day moving average price of $45.53. The stock has a market capitalization of $1.78 billion, a P/E ratio of 25.42, a P/E/G ratio of 0.48 and a beta of 1.55. PHINIA has a 12-month low of $36.25 and a 12-month high of $57.23.

PHINIA (NYSE:PHIN - Get Free Report) last posted its quarterly earnings results on Friday, April 25th. The company reported $0.94 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.04 by ($0.10). The business had revenue of $796.00 million for the quarter, compared to analysts' expectations of $813.24 million. PHINIA had a return on equity of 9.88% and a net margin of 2.28%. The business's quarterly revenue was down 7.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.08 earnings per share. Equities analysts anticipate that PHINIA will post 4.21 EPS for the current fiscal year.

PHINIA Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date was Monday, June 2nd. PHINIA's payout ratio is 61.36%.

Insider Activity

In related news, CEO Brady D. Ericson bought 10,000 shares of the company's stock in a transaction on Wednesday, April 30th. The stock was bought at an average cost of $39.73 per share, for a total transaction of $397,300.00. Following the acquisition, the chief executive officer now directly owns 436,486 shares in the company, valued at $17,341,588.78. This represents a 2.34% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Meggan M. Walsh bought 1,400 shares of PHINIA stock in a transaction on Thursday, May 22nd. The shares were purchased at an average cost of $42.71 per share, for a total transaction of $59,794.00. Following the completion of the purchase, the director now directly owns 7,492 shares of the company's stock, valued at $319,983.32. This trade represents a 22.98% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 11,423 shares of company stock worth $458,069 over the last three months. Insiders own 2.00% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Millennium Management LLC raised its position in PHINIA by 28.3% in the fourth quarter. Millennium Management LLC now owns 2,424,949 shares of the company's stock valued at $116,810,000 after purchasing an additional 535,222 shares during the period. Voss Capital LP increased its position in shares of PHINIA by 45.9% during the 1st quarter. Voss Capital LP now owns 2,067,342 shares of the company's stock worth $87,717,000 after purchasing an additional 650,261 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in PHINIA by 14.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,048,051 shares of the company's stock valued at $98,653,000 after buying an additional 253,345 shares during the period. First Trust Advisors LP lifted its position in PHINIA by 32.6% in the fourth quarter. First Trust Advisors LP now owns 1,866,894 shares of the company's stock valued at $89,928,000 after buying an additional 458,650 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in PHINIA by 7.5% during the first quarter. American Century Companies Inc. now owns 1,520,567 shares of the company's stock worth $64,518,000 after buying an additional 106,412 shares during the period. 90.94% of the stock is currently owned by institutional investors and hedge funds.

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.