Brokerages Set PHINIA Inc. (NYSE:PHIN) Target Price at $51.17

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

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

Insider Activity

In other PHINIA 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 purchased at an average cost of $42.71 per share, for a total transaction of $59,794.00. Following the purchase, the director now directly owns 7,492 shares in the company, valued at $319,983.32. This represents a 22.98% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Brady D. Ericson purchased 10,000 shares of the company's stock in a transaction on Wednesday, April 30th. The shares were purchased at an average price of $39.73 per share, for a total transaction of $397,300.00. Following the purchase, the chief executive officer now owns 436,486 shares in the company, 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. Company insiders own 2.00% of the company's stock.

Hedge Funds Weigh In On PHINIA

A number of large investors have recently bought and sold shares of the business. Commerce Bank increased its stake in PHINIA by 1.7% during the 4th quarter. Commerce Bank now owns 13,696 shares of the company's stock worth $660,000 after buying an additional 231 shares in the last quarter. Mariner LLC increased its stake in PHINIA by 1.3% during the 4th quarter. Mariner LLC now owns 19,739 shares of the company's stock worth $951,000 after buying an additional 245 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in PHINIA by 1.6% during the 1st quarter. Nisa Investment Advisors LLC now owns 17,080 shares of the company's stock worth $725,000 after buying an additional 274 shares in the last quarter. OneDigital Investment Advisors LLC increased its stake in PHINIA by 3.1% during the 1st quarter. OneDigital Investment Advisors LLC now owns 9,253 shares of the company's stock worth $393,000 after buying an additional 279 shares in the last quarter. Finally, SummerHaven Investment Management LLC increased its stake in PHINIA by 1.5% during the 1st quarter. SummerHaven Investment Management LLC now owns 18,935 shares of the company's stock worth $803,000 after buying an additional 282 shares in the last quarter. Institutional investors and hedge funds own 90.94% of the company's stock.

PHINIA Price Performance

Shares of NYSE:PHIN traded down $0.37 during trading on Friday, hitting $43.39. 630,705 shares of the company's stock were exchanged, compared to its average volume of 589,071. 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 has a 52-week low of $36.25 and a 52-week high of $57.23. The business's 50-day simple moving average is $41.84 and its 200 day simple moving average is $46.99. The company has a market cap of $1.73 billion, a price-to-earnings ratio of 24.79 and a beta of 1.59.

PHINIA (NYSE:PHIN - Get Free Report) last released its quarterly earnings results on Friday, April 25th. The company reported $0.94 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.10). The firm had revenue of $796.00 million for the quarter, compared to analysts' expectations of $813.24 million. PHINIA had a net margin of 2.32% and a return on equity of 10.12%. The business's quarterly revenue was down 7.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.08 EPS. As a group, equities analysts predict that PHINIA will post 4.21 EPS for the current year.

PHINIA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be issued a $0.27 dividend. The ex-dividend date is Monday, June 2nd. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.49%. PHINIA's dividend payout ratio is presently 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.