UBS Group Raises PHINIA (NYSE:PHIN) Price Target to $52.00

PHINIA (NYSE:PHIN - Free Report) had its price target raised by UBS Group from $48.00 to $52.00 in a research report sent to investors on Monday,Benzinga reports. UBS Group currently has a neutral rating on the stock.

Other analysts also recently issued reports about the company. CL King assumed coverage on PHINIA in a research note on Monday, March 24th. They issued a "buy" rating and a $54.00 price objective for the company. Bank of America increased 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. Morgan Stanley dropped their price objective on PHINIA from $50.00 to $46.00 and set an "equal weight" rating on the stock in a research note on Monday, May 19th. Finally, BNP Paribas downgraded shares of PHINIA from an "outperform" rating to a "neutral" rating and set a $46.00 price objective on the stock. in a report on Wednesday, April 23rd. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $52.33.

PHINIA Stock Down 0.1%

PHIN stock traded down $0.07 during midday trading on Monday, reaching $48.45. 67,905 shares of the company's stock traded hands, compared to its average volume of 538,780. The company has a quick ratio of 1.36, a current ratio of 1.85 and a debt-to-equity ratio of 0.63. The firm's fifty day moving average price is $44.37 and its 200-day moving average price is $45.28. PHINIA has a 52 week low of $36.25 and a 52 week high of $57.23. The company has a market cap of $1.93 billion, a price-to-earnings ratio of 27.53, a P/E/G ratio of 0.51 and a beta of 1.49.

PHINIA (NYSE:PHIN - Get Free Report) last posted its earnings results on Friday, April 25th. The company reported $0.94 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.10). PHINIA had a return on equity of 9.88% and a net margin of 2.28%. The business had revenue of $796.00 million for the quarter, compared to the consensus estimate of $813.24 million. During the same period in the previous year, the firm earned $1.08 earnings per share. The company's revenue was down 7.8% on a year-over-year basis. As a group, sell-side analysts forecast that PHINIA will post 4.21 earnings per share for the current fiscal year.

PHINIA Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were given a $0.27 dividend. The ex-dividend date was Monday, June 2nd. This represents a $1.08 annualized dividend and a yield of 2.23%. PHINIA's dividend payout ratio is currently 61.36%.

Insiders Place Their Bets

In other PHINIA news, Director Meggan M. Walsh bought 1,400 shares of the stock in a transaction dated Thursday, May 22nd. The shares were bought at an average cost of $42.71 per share, for a total transaction of $59,794.00. Following the purchase, the director directly owned 7,492 shares of the company's stock, valued at approximately $319,983.32. This trade represents a 22.98% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brady D. Ericson bought 10,000 shares of the company's stock in a transaction on Wednesday, April 30th. The stock was bought at an average price of $39.73 per share, for a total transaction of $397,300.00. Following the completion of the purchase, the chief executive officer owned 436,486 shares of the company's stock, valued at approximately $17,341,588.78. The trade was a 2.34% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 11,423 shares of company stock valued at $458,069 in the last 90 days. Corporate insiders own 2.00% of the company's stock.

Institutional Trading of PHINIA

Several hedge funds have recently made changes to their positions in PHIN. AlphaQuest LLC purchased a new stake in PHINIA in the 4th quarter worth about $173,000. Royce & Associates LP boosted its position in PHINIA by 66.4% during the fourth quarter. Royce & Associates LP now owns 25,140 shares of the company's stock worth $1,211,000 after purchasing an additional 10,031 shares during the period. Magnetar Financial LLC purchased a new position in shares of PHINIA in the fourth quarter worth about $264,000. American Century Companies Inc. raised its position in shares of PHINIA by 8.5% in the fourth quarter. American Century Companies Inc. now owns 1,414,155 shares of the company's stock valued at $68,120,000 after purchasing an additional 110,931 shares during the period. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of PHINIA during the 4th quarter valued at approximately $771,000. 90.94% of the stock is currently owned by institutional investors.

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.