PHINIA (NYSE:PHIN) Sets New 52-Week High - Here's What Happened

Key Points

• PHINIA Inc.'s stock recently reached a new 12-month high of $59.88 and is currently trading at $58.97, showing increased interest with a volume of 8,946 shares traded.
• Analyst ratings are generally favorable, with Bank of America raising their price target to $64.00 and Wall Street Zen upgrading to a "strong-buy," indicating positive sentiment surrounding the stock.
• PHINIA declared a quarterly dividend of $0.27, with an annualized yield of 1.8%, reflecting the company's commitment to returning value to shareholders.

Shares of PHINIA Inc. (NYSE:PHIN - Get Free Report) hit a new 52-week high during trading on Friday . The stock traded as high as $59.88 and last traded at $58.97, with a volume of 8946 shares changing hands. The stock had previously closed at $59.53.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on PHIN shares. Morgan Stanley raised their price objective on shares of PHINIA from $46.00 to $48.00 and gave the stock an "equal weight" rating in a report on Tuesday, August 12th. Bank of America raised their price objective on shares of PHINIA from $60.00 to $64.00 and gave the stock a "buy" rating in a report on Wednesday, September 10th. UBS Group restated a "neutral" rating and set a $55.00 price objective (up previously from $52.00) on shares of PHINIA in a report on Friday, July 25th. Finally, Wall Street Zen upgraded shares of PHINIA from a "hold" rating to a "strong-buy" rating in a report on Saturday, July 26th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, PHINIA presently has an average rating of "Moderate Buy" and a consensus target price of $54.67.

PHINIA Trading Up 0.2%

The firm's 50-day moving average price is $53.70 and its 200-day moving average price is $46.60. The company has a quick ratio of 1.36, a current ratio of 1.86 and a debt-to-equity ratio of 0.59. The company has a market cap of $2.24 billion, a P/E ratio of 22.24, a price-to-earnings-growth ratio of 0.52 and a beta of 1.53.

PHINIA (NYSE:PHIN - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The company reported $1.27 EPS for the quarter, beating the consensus estimate of $0.99 by $0.28. The company had revenue of $890.00 million during the quarter, compared to analysts' expectations of $836.51 million. PHINIA had a net margin of 3.22% and a return on equity of 10.74%. PHINIA's revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.88 earnings per share. PHINIA has set its FY 2025 guidance at EPS. As a group, equities research analysts expect that PHINIA Inc. will post 4.21 earnings per share for the current fiscal year.

PHINIA Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 22nd were paid a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $1.08 annualized dividend and a yield of 1.9%. PHINIA's payout ratio is currently 41.70%.

Hedge Funds Weigh In On PHINIA

A number of hedge funds and other institutional investors have recently bought and sold shares of PHIN. CX Institutional purchased a new position in PHINIA in the 1st quarter worth approximately $31,000. EMC Capital Management purchased a new position in PHINIA in the 2nd quarter worth approximately $39,000. TD Waterhouse Canada Inc. grew its stake in PHINIA by 350.0% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 900 shares of the company's stock worth $42,000 after buying an additional 700 shares in the last quarter. State of Wyoming purchased a new position in PHINIA in the 2nd quarter worth approximately $60,000. Finally, Brooklyn Investment Group grew its stake in PHINIA by 853.0% in the 1st quarter. Brooklyn Investment Group now owns 1,582 shares of the company's stock worth $67,000 after buying an additional 1,416 shares in the last quarter. Hedge funds and other institutional investors 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.