PHINIA (NYSE:PHIN) Rating Increased to Strong-Buy at Wall Street Zen

Key Points

• PHINIA has been upgraded to a "strong-buy" rating from a previous "hold" rating by analysts at Wall Street Zen.
• Analysts have varying price targets for PHINIA, with UBS Group increasing theirs to $55.00, while Morgan Stanley lowered their target to $46.00.
• PHINIA reported quarterly earnings of $1.27 per share, exceeding analysts' estimates of $0.99, with revenue reaching $890 million, surpassing predictions.

PHINIA (NYSE:PHIN - Get Free Report) was upgraded by analysts at Wall Street Zen from a "hold" rating to a "strong-buy" rating in a report issued on Saturday.

A number of other brokerages have also recently weighed in on PHIN. UBS Group upped their price target on PHINIA from $52.00 to $55.00 and gave the company a "neutral" rating in a research report on Friday. Morgan Stanley lowered 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. Bank of America upped their price target on PHINIA from $53.00 to $55.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Finally, BNP Paribas cut PHINIA from an "outperform" rating to a "neutral" rating and set a $46.00 price target on the stock. in a research report on Wednesday, April 23rd. Three research analysts have rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $52.83.

PHINIA Stock Performance

PHIN opened at $52.28 on Friday. The stock has a market cap of $2.08 billion, a PE ratio of 20.19, a P/E/G ratio of 0.53 and a beta of 1.49. The company has a current ratio of 1.86, a quick ratio of 1.36 and a debt-to-equity ratio of 0.59. PHINIA has a 1 year low of $36.25 and a 1 year high of $57.23. The stock's 50 day simple moving average is $44.99 and its 200-day simple moving average is $45.30.

PHINIA (NYSE:PHIN - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The company reported $1.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.99 by $0.28. The business had revenue of $890.00 million for the quarter, compared to analysts' expectations of $836.51 million. PHINIA had a return on equity of 10.74% and a net margin of 3.22%. PHINIA's quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.88 earnings per share. Sell-side analysts forecast that PHINIA will post 4.21 EPS for the current year.

Insiders Place Their Bets

In other PHINIA news, Director Meggan M. Walsh acquired 1,400 shares of PHINIA stock in a transaction on Thursday, May 22nd. The shares were bought at an average price of $42.71 per share, with a total value of $59,794.00. Following the completion of the purchase, the director owned 7,492 shares in the company, 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 through the SEC website. Also, CEO Brady D. Ericson acquired 10,000 shares of PHINIA stock in a transaction on Wednesday, April 30th. The stock was acquired at an average cost of $39.73 per share, for a total transaction of $397,300.00. Following the purchase, the chief executive officer owned 436,486 shares of the company's stock, valued at approximately $17,341,588.78. This represents a 2.34% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders acquired 11,423 shares of company stock worth $458,069. Insiders own 2.00% of the company's stock.

Hedge Funds Weigh In On PHINIA

A number of institutional investors and hedge funds have recently bought and sold shares of PHIN. KLP Kapitalforvaltning AS acquired a new position in shares of PHINIA during the fourth quarter valued at $771,000. JPMorgan Chase & Co. lifted its stake in shares of PHINIA by 0.3% during the fourth quarter. JPMorgan Chase & Co. now owns 561,644 shares of the company's stock valued at $27,054,000 after acquiring an additional 1,603 shares during the period. Brandywine Global Investment Management LLC acquired a new position in shares of PHINIA during the fourth quarter valued at $6,874,000. O Shaughnessy Asset Management LLC lifted its stake in shares of PHINIA by 35.3% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 97,852 shares of the company's stock valued at $4,714,000 after acquiring an additional 25,532 shares during the period. Finally, Alliancebernstein L.P. lifted its stake in shares of PHINIA by 4.2% during the fourth quarter. Alliancebernstein L.P. now owns 60,963 shares of the company's stock valued at $2,937,000 after acquiring an additional 2,445 shares during the period. Institutional investors and hedge funds 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.

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