PHINIA (NYSE:PHIN) Stock Price Up 7.7% After Analyst Upgrade

Key Points

• PHINIA shares jumped 7.7% after UBS raised its price target from $68 to $69 while maintaining a neutral rating. The stock reached $67.78, though trading volume was 82% below its average.
• Analysts maintain a generally positive outlook, with PHINIA carrying a consensus “Moderate Buy” rating and an average price target of $83.75. The company also exceeded quarterly earnings expectations, reporting $1.83 per share versus the $1.68 estimate.
• Insiders sold 55,270 shares worth approximately $3.7 million over the past 90 days, while institutional investors own 90.94% of the stock. PHINIA pays a quarterly dividend of $0.30 per share, representing a 1.8% annual yield.

PHINIA Inc. (NYSE:PHIN - Get Free Report)'s stock price traded up 7.7% on Monday after UBS Group raised their price target on the stock from $68.00 to $69.00. UBS Group currently has a neutral rating on the stock. PHINIA traded as high as $67.78 and last traded at $67.79. 69,128 shares were traded during mid-day trading, a decline of 82% from the average session volume of 389,909 shares. The stock had previously closed at $62.92.

PHIN has been the topic of several other research reports. Weiss Ratings cut shares of PHINIA from a "buy (b)" rating to a "buy (b-)" rating in a research report on Wednesday, September 16th. Northland Securities set a $98.00 price target on PHINIA in a research note on Friday, July 31st. Wall Street Zen lowered PHINIA from a "buy" rating to a "hold" rating in a research note on Saturday, October 10th. Finally, Zacks Research raised shares of PHINIA from a "strong sell" rating to a "hold" rating in a report on Tuesday, September 29th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, PHINIA presently has a consensus rating of "Moderate Buy" and a consensus target price of $83.75.

Insider Buying and Selling at PHINIA

In related news, SVP Matthew Logar sold 1,257 shares of the company's stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $66.33, for a total value of $83,376.81. Following the completion of the transaction, the senior vice president owned 15,576 shares of the company's stock, valued at approximately $1,033,156.08. This represents a 7.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Robert Boyle sold 7,500 shares of PHINIA stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $62.12, for a total value of $465,900.00. Following the completion of the sale, the senior vice president directly owned 25,317 shares in the company, valued at approximately $1,572,692.04. The trade was a 22.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 55,270 shares of company stock valued at $3,698,592 in the last ninety days. 2.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On PHINIA

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PHIN. Covestor Ltd lifted its position in shares of PHINIA by 724.3% during the 3rd quarter. Covestor Ltd now owns 1,459 shares of the company's stock valued at $86,000 after buying an additional 1,282 shares in the last quarter. State of Wyoming grew its stake in PHINIA by 95.8% during the 3rd quarter. State of Wyoming now owns 1,878 shares of the company's stock valued at $112,000 after acquiring an additional 919 shares in the last quarter. Signaturefd LLC lifted its position in PHINIA by 29.5% during the third quarter. Signaturefd LLC now owns 1,023 shares of the company's stock worth $61,000 after buying an additional 233 shares in the last quarter. Fifth Third Wealth Advisors LLC purchased a new stake in shares of PHINIA in the 3rd quarter valued at approximately $410,000. Finally, Sterling Capital Management LLC lifted its holdings in PHINIA by 23.4% in the third quarter. Sterling Capital Management LLC now owns 20,799 shares of the company's stock valued at $1,236,000 after acquiring an additional 3,942 shares during the last quarter. Hedge funds and other institutional investors own 90.94% of the company's stock.

PHINIA Trading Up 7.9%

The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.28 and a current ratio of 1.70. The firm has a market cap of $2.49 billion, a price-to-earnings ratio of 13.65 and a beta of 1.19. The company has a 50 day moving average price of $62.07 and a 200 day moving average price of $71.32.

PHINIA (NYSE:PHIN - Get Free Report) last announced its earnings results on Thursday, October 29th. The company reported $1.83 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.15. The firm had revenue of $912.00 million for the quarter, compared to the consensus estimate of $928.21 million. PHINIA had a net margin of 5.22% and a return on equity of 14.32%. On average, research analysts expect that PHINIA Inc. will post 6.25 earnings per share for the current year.

PHINIA Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Friday, September 4th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Friday, September 4th. PHINIA's dividend payout ratio is currently 24.19%.

About PHINIA

PHINIA Inc NYSE: PHIN is a global supplier of fuel systems, electrical systems and aftermarket products for automotive, commercial vehicle and industrial applications. The company develops technologies that support the performance, efficiency and emissions management of internal-combustion engines and other propulsion systems.

Its products include fuel injectors, fuel pumps and modules, fuel-system controls, ignition components, sensors, actuators and electronic control systems. PHINIA also supplies diesel fuel systems and related technologies for commercial vehicles and off-highway equipment, as well as replacement parts, service products and solutions through its aftermarket business.

PHINIA was established as an independent public company in 2023 after being spun off from BorgWarner.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.