PHINIA (NYSE:PHIN) Hits New 12-Month High – Here’s What Happened

by · The Markets Daily

PHINIA Inc. (NYSE:PHIN – Get Free Report) reached a new 52-week high on Thursday . The stock traded as high as $52.75 and last traded at $52.61, with a volume of 52872 shares changing hands. The stock had previously closed at $51.32.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. UBS Group started coverage on PHINIA in a research report on Wednesday, September 4th. They set a “buy” rating and a $55.00 target price on the stock. Morgan Stanley downgraded PHINIA from an “overweight” rating to an “equal weight” rating and set a $50.00 price objective on the stock. in a research report on Wednesday, September 25th.

Get Our Latest Stock Report on PHIN

PHINIA Stock Performance

The stock has a market capitalization of $2.14 billion, a PE ratio of 22.03 and a beta of 0.86. The company has a quick ratio of 1.46, a current ratio of 1.93 and a debt-to-equity ratio of 0.58. The firm has a 50 day moving average price of $46.41 and a 200-day moving average price of $44.11.

PHINIA (NYSE:PHIN – Get Free Report) last posted its earnings results on Thursday, October 31st. The company reported $1.17 EPS for the quarter, topping the consensus estimate of $0.79 by $0.38. The firm had revenue of $839.00 million for the quarter, compared to analyst estimates of $829.82 million. PHINIA had a return on equity of 9.79% and a net margin of 3.10%. PHINIA’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same period last year, the company earned $0.53 earnings per share. Research analysts expect that PHINIA Inc. will post 3.27 EPS for the current fiscal year.

Insider Buying and Selling at PHINIA

In other PHINIA news, VP Michael Coetzee sold 900 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $47.71, for a total value of $42,939.00. Following the sale, the vice president now directly owns 29,540 shares of the company’s stock, valued at approximately $1,409,353.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On PHINIA

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Fidelis Capital Partners LLC purchased a new position in PHINIA during the first quarter worth approximately $37,000. GAMMA Investing LLC lifted its position in PHINIA by 100.4% during the second quarter. GAMMA Investing LLC now owns 1,132 shares of the company’s stock worth $45,000 after buying an additional 567 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in PHINIA during the second quarter worth approximately $49,000. KBC Group NV lifted its position in PHINIA by 49.4% during the third quarter. KBC Group NV now owns 1,495 shares of the company’s stock worth $69,000 after buying an additional 494 shares in the last quarter. Finally, EntryPoint Capital LLC purchased a new position in PHINIA during the first quarter worth approximately $60,000. Hedge funds and other institutional investors own 90.94% of the company’s stock.

About PHINIA

(Get Free Report)

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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