PHINIA (NYSE:PHIN) Rating Increased to Strong-Buy at Zacks Research

Key Points

• PHINIA was upgraded to “strong-buy” by Zacks Research, adding to a generally positive analyst backdrop. MarketBeat data shows the stock now has a consensus rating of “Moderate Buy” with an average price target of $68.80.
• The company beat quarterly earnings and revenue estimates in its latest report, posting EPS of $1.29 versus $1.13 expected and revenue of $878 million versus $838.67 million expected. Revenue rose 10.3% year over year.
• PHINIA shares were trading at $79.56, near their 52-week high of $81.11, while institutional ownership remained heavy at 90.94%. Recent insider selling by two vice presidents was also disclosed.

PHINIA (NYSE:PHIN - Get Free Report) was upgraded by equities research analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research note issued on Wednesday,Zacks.com reports.

Other equities research analysts have also issued reports about the company. Wall Street Zen upgraded PHINIA from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 2nd. Freedom Capital lowered PHINIA from a "strong-buy" rating to a "hold" rating in a research report on Thursday, February 26th. Northland Securities set a $93.00 price target on PHINIA in a research report on Friday, February 13th. UBS Group restated a "neutral" rating and issued a $76.00 price target on shares of PHINIA in a research report on Friday, February 13th. Finally, Weiss Ratings upgraded PHINIA from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $68.80.

PHINIA Price Performance

PHIN stock opened at $79.56 on Wednesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.82 and a quick ratio of 1.32. The business has a 50 day simple moving average of $70.55 and a 200-day simple moving average of $65.85. The firm has a market capitalization of $2.95 billion, a PE ratio of 22.22 and a beta of 1.16. PHINIA has a 1 year low of $41.28 and a 1 year high of $81.11.

PHINIA (NYSE:PHIN - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The company reported $1.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.13 by $0.16. The business had revenue of $878.00 million during the quarter, compared to analyst estimates of $838.67 million. PHINIA had a return on equity of 13.23% and a net margin of 3.96%.The business's revenue was up 10.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.94 earnings per share. Equities research analysts anticipate that PHINIA will post 6.36 earnings per share for the current fiscal year.

Insider Activity at PHINIA

In other PHINIA news, VP Neil Fryer sold 624 shares of the company's stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $72.75, for a total transaction of $45,396.00. Following the transaction, the vice president directly owned 18,180 shares in the company, valued at $1,322,595. This represents a 3.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Christopher Gustanski sold 3,812 shares of the company's stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $72.73, for a total value of $277,246.76. Following the transaction, the vice president owned 14,871 shares in the company, valued at $1,081,567.83. This trade represents a 20.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 2.20% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in PHINIA by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 4,510,133 shares of the company's stock worth $282,740,000 after purchasing an additional 44,599 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of PHINIA by 1.5% in the first quarter. Dimensional Fund Advisors LP now owns 2,336,499 shares of the company's stock valued at $159,901,000 after acquiring an additional 34,503 shares in the last quarter. Voss Capital LP raised its stake in shares of PHINIA by 2.8% in the fourth quarter. Voss Capital LP now owns 1,727,468 shares of the company's stock valued at $108,295,000 after acquiring an additional 47,468 shares in the last quarter. American Century Companies Inc. raised its stake in shares of PHINIA by 4.7% in the third quarter. American Century Companies Inc. now owns 1,641,916 shares of the company's stock valued at $94,377,000 after acquiring an additional 74,430 shares in the last quarter. Finally, LSV Asset Management raised its stake in shares of PHINIA by 13.8% in the third quarter. LSV Asset Management now owns 1,364,534 shares of the company's stock valued at $78,433,000 after acquiring an additional 165,316 shares in the last quarter. 90.94% of the stock is currently owned by institutional investors and hedge funds.

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. The Fuel Systems segment provides advanced fuel injection systems, including pumps, injectors, fuel rail assemblies, and engine control modules; fuel delivery modules; canisters; sensors; and electronic control modules.

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