PHINIA (NYSE:PHIN) Hits New 52-Week High - What's Next?

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.

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

Wall Street Analysts Forecast Growth

PHIN has been the subject of a number of research analyst reports. Wall Street Zen raised shares of PHINIA from a "hold" rating to a "strong-buy" rating in a report on Saturday, July 26th. Morgan Stanley raised their price target 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 target on shares of PHINIA from $60.00 to $64.00 and gave the stock a "buy" rating in a report on Wednesday, September 10th. Finally, UBS Group reissued a "neutral" rating and set a $55.00 target price (up previously from $52.00) on shares of PHINIA in a report on Friday, July 25th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, PHINIA has an average rating of "Moderate Buy" and an average target price of $54.67.

PHINIA Trading Up 3.0%

The company has a market cap of $2.31 billion, a price-to-earnings ratio of 23.05, a price-to-earnings-growth ratio of 0.51 and a beta of 1.53. 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's 50-day moving average is $53.91 and its 200 day moving average is $46.68.

PHINIA (NYSE:PHIN - Get Free Report) last announced its earnings results on Thursday, July 24th. The company reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.28. PHINIA had a net margin of 3.22% and a return on equity of 10.74%. The business had revenue of $890.00 million for the quarter, compared to analyst estimates of $836.51 million. During the same quarter last year, the business earned $0.88 earnings per share. The company's revenue for the quarter was up 2.5% compared to the same quarter last year. PHINIA has set its FY 2025 guidance at EPS. Research analysts predict that PHINIA Inc. will post 4.21 EPS for the current year.

PHINIA Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 22nd were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, August 22nd. PHINIA's dividend payout ratio (DPR) is currently 41.70%.

Hedge Funds Weigh In On PHINIA

Several hedge funds and other institutional investors have recently modified their holdings of PHIN. CX Institutional purchased a new position in shares of PHINIA in the first quarter worth about $31,000. EMC Capital Management purchased a new position in PHINIA during the second quarter worth about $39,000. TD Waterhouse Canada Inc. raised its stake in PHINIA by 350.0% during the second quarter. TD Waterhouse Canada Inc. now owns 900 shares of the company's stock worth $42,000 after purchasing an additional 700 shares during the period. State of Wyoming purchased a new position in PHINIA during the second quarter worth about $60,000. Finally, Brooklyn Investment Group raised its stake in PHINIA by 853.0% during the first quarter. Brooklyn Investment Group now owns 1,582 shares of the company's stock worth $67,000 after purchasing an additional 1,416 shares during the period. 90.94% of the stock is owned by hedge funds and other institutional investors.

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.