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

PHINIA Inc. (NYSE:PHIN - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the seven research firms that are presently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among analysts that have covered the stock in the last year is $51.17.

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

Insider Buying and Selling

In other news, Director Meggan M. Walsh bought 1,400 shares of the company's stock in a transaction on Thursday, May 22nd. The stock was purchased at an average cost of $42.71 per share, for a total transaction of $59,794.00. Following the completion of the transaction, the director now 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 purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Brady D. Ericson bought 10,000 shares of the company's stock in a transaction on Wednesday, April 30th. The stock was purchased at an average price of $39.73 per share, with a total value of $397,300.00. Following the completion of the transaction, the chief executive officer now directly owns 436,486 shares of the company's stock, valued at approximately $17,341,588.78. The trade was a 2.34% increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 11,423 shares of company stock worth $458,069 in the last ninety days. 2.00% of the stock is owned by insiders.

Institutional Investors Weigh In On PHINIA

Several institutional investors and hedge funds have recently made changes to their positions in PHIN. Voss Capital LP increased its stake in shares of PHINIA by 45.9% in the first quarter. Voss Capital LP now owns 2,067,342 shares of the company's stock valued at $87,717,000 after buying an additional 650,261 shares during the period. Millennium Management LLC grew its stake in PHINIA by 28.3% during the fourth quarter. Millennium Management LLC now owns 2,424,949 shares of the company's stock worth $116,810,000 after purchasing an additional 535,222 shares during the period. First Trust Advisors LP grew its stake in PHINIA by 32.6% during the fourth quarter. First Trust Advisors LP now owns 1,866,894 shares of the company's stock worth $89,928,000 after purchasing an additional 458,650 shares during the period. Pacer Advisors Inc. acquired a new stake in PHINIA during the first quarter worth approximately $14,880,000. Finally, Nuveen LLC acquired a new stake in PHINIA during the first quarter worth approximately $10,939,000. Institutional investors and hedge funds own 90.94% of the company's stock.

PHINIA Stock Performance

NYSE:PHIN opened at $42.67 on Tuesday. The stock has a fifty day moving average price of $42.53 and a 200-day moving average price of $45.62. The company has a market cap of $1.70 billion, a price-to-earnings ratio of 24.24, a PEG ratio of 0.47 and a beta of 1.55. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.36 and a current ratio of 1.85. PHINIA has a fifty-two week low of $36.25 and a fifty-two week high of $57.23.

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

PHINIA Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $1.08 annualized dividend and a dividend yield of 2.53%. PHINIA's dividend payout ratio is currently 61.36%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.