PHINIA (NYSE:PHIN) Price Target Raised to $55.00

Key Points

• UBS Group raised its target price for PHINIA (NYSE:PHIN) stock from $52.00 to $55.00, indicating a potential upside of 9.03%.
• Bank of America also updated its price target for PHINIA to $55.00, while BNP Paribas downgraded it to $46.00.
• PHINIA's latest earnings report showed an earnings per share of $1.27, surpassing analysts' expectations of $0.99, with a revenue of $890.00 million.
• Insiders acquired a total of 11,423 shares of PHINIA stock over the last quarter, indicating confidence in the company's prospects.

PHINIA (NYSE:PHIN - Get Free Report) had its target price boosted by investment analysts at UBS Group from $52.00 to $55.00 in a report released on Friday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. UBS Group's target price would suggest a potential upside of 5.20% from the company's current price.

A number of other equities research analysts also recently weighed in on PHIN. Bank of America boosted their price target on PHINIA from $53.00 to $55.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Morgan Stanley dropped their target price on PHINIA from $50.00 to $46.00 and set an "equal weight" rating on the stock in a report on Monday, May 19th. Finally, BNP Paribas lowered PHINIA from an "outperform" rating to a "neutral" rating and set a $46.00 price objective for the company. in a report on Wednesday, April 23rd. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $52.83.

PHINIA Stock Performance

Shares of PHINIA stock traded up $2.38 on Friday, hitting $52.28. The stock had a trading volume of 646,059 shares, compared to its average volume of 418,783. PHINIA has a 52-week low of $36.25 and a 52-week high of $57.23. The company has a current ratio of 1.86, a quick ratio of 1.36 and a debt-to-equity ratio of 0.59. The stock has a market cap of $2.08 billion, a price-to-earnings ratio of 20.19, a P/E/G ratio of 0.56 and a beta of 1.49. The company's 50 day moving average price is $45.15 and its 200 day moving average price is $45.34.

PHINIA (NYSE:PHIN - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The company reported $1.27 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $890.00 million during the quarter, compared to analysts' expectations of $836.51 million. During the same period in the prior year, the company posted $0.88 earnings per share. The firm's revenue for the quarter was up 2.5% on a year-over-year basis. On average, research analysts anticipate that PHINIA will post 4.21 EPS for the current year.

Insider Buying and Selling at PHINIA

In other PHINIA news, Director Meggan M. Walsh purchased 1,400 shares of the firm's stock in a transaction on Thursday, May 22nd. The stock was purchased at an average cost of $42.71 per share, for a total transaction of $59,794.00. Following the acquisition, the director owned 7,492 shares in the company, valued at approximately $319,983.32. The trade was a 22.98% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brady D. Ericson acquired 10,000 shares of PHINIA stock in a transaction dated Wednesday, April 30th. The shares were acquired at an average price of $39.73 per share, with a total value of $397,300.00. Following the completion of the acquisition, the chief executive officer directly 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 have bought 11,423 shares of company stock valued at $458,069 over the last quarter. Company insiders own 2.00% of the company's stock.

Institutional Investors Weigh In On PHINIA

A number of institutional investors and hedge funds have recently modified their holdings of the company. Brandywine Global Investment Management LLC purchased a new stake in PHINIA during the fourth quarter valued at about $6,874,000. Janney Montgomery Scott LLC boosted its position in PHINIA by 8.2% during the first quarter. Janney Montgomery Scott LLC now owns 9,196 shares of the company's stock valued at $390,000 after buying an additional 698 shares during the period. Principal Financial Group Inc. boosted its position in PHINIA by 0.6% during the first quarter. Principal Financial Group Inc. now owns 229,854 shares of the company's stock valued at $9,753,000 after buying an additional 1,270 shares during the period. Barclays PLC boosted its position in PHINIA by 14.7% during the fourth quarter. Barclays PLC now owns 83,529 shares of the company's stock valued at $4,023,000 after buying an additional 10,724 shares during the period. Finally, Nisa Investment Advisors LLC boosted its position in PHINIA by 1.6% during the first quarter. Nisa Investment Advisors LLC now owns 17,080 shares of the company's stock valued at $725,000 after buying an additional 274 shares during the period. 90.94% of the stock is owned by hedge funds and other 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.