PHINIA Inc. (NYSE:PHIN) Stock Rated “Moderate Buy” by Wall Street Analysts

by · The Markets Daily

PHINIA Inc. (NYSE:PHIN – Get Free Report) has been assigned an average rating of “Moderate Buy” from the six research firms that are covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $90.67.

A number of equities research analysts have recently weighed in on PHIN shares. UBS Group boosted their price target on PHINIA from $68.00 to $69.00 and gave the company a “neutral” rating in a report on Friday, October 30th. Northland Securities set a $98.00 price target on PHINIA in a research report on Friday, July 31st. Weiss Ratings cut PHINIA from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, September 16th. Wall Street Zen raised shares of PHINIA from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Zacks Research upgraded shares of PHINIA from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 29th.

Read Our Latest Report on PHIN

Insiders Place Their Bets

In other news, CEO Brady Ericson sold 27,860 shares of PHINIA stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $68.39, for a total value of $1,905,345.40. Following the completion of the transaction, the chief executive officer directly owned 330,497 shares of the company’s stock, valued at approximately $22,602,689.83. The trade was a 7.77% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Robert Boyle sold 7,500 shares of the business’s stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $62.12, for a total transaction of $465,900.00. Following the sale, the senior vice president directly owned 25,317 shares of the company’s stock, valued at approximately $1,572,692.04. This represents a 22.85% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 55,270 shares of company stock worth $3,698,592. Corporate insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On PHINIA

Several institutional investors have recently made changes to their positions in PHIN. Global Retirement Partners LLC grew its stake in PHINIA by 54.5% during the 3rd quarter. Global Retirement Partners LLC now owns 1,888 shares of the company’s stock worth $112,000 after buying an additional 666 shares during the last quarter. Cibc World Market Inc. acquired a new position in shares of PHINIA during the third quarter valued at $214,000. Bessemer Group Inc. grew its position in shares of PHINIA by 25.3% during the third quarter. Bessemer Group Inc. now owns 359,547 shares of the company’s stock worth $21,368,000 after acquiring an additional 72,610 shares during the last quarter. Royce & Associates LP grew its position in shares of PHINIA by 1.8% during the third quarter. Royce & Associates LP now owns 40,832 shares of the company’s stock worth $2,427,000 after acquiring an additional 708 shares during the last quarter. Finally, Banyan Capital Management Inc. bought a new position in shares of PHINIA during the third quarter worth about $11,080,000. 90.94% of the stock is owned by institutional investors.

PHINIA Stock Up 1.0%

NYSE:PHIN opened at $71.01 on Friday. The company has a market capitalization of $2.55 billion, a price-to-earnings ratio of 14.32 and a beta of 1.16. PHINIA has a one year low of $51.38 and a one year high of $86.93. The stock has a 50-day simple moving average of $62.07 and a 200 day simple moving average of $71.35. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.28 and a current ratio of 1.70.

PHINIA (NYSE:PHIN – Get Free Report) last announced its quarterly earnings data on Thursday, October 29th. The company reported $1.83 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.15. PHINIA had a return on equity of 14.32% and a net margin of 5.22%. The firm had revenue of $912.00 million during the quarter, compared to analyst estimates of $928.21 million. Sell-side analysts predict that PHINIA will post 6.10 EPS for the current fiscal year.

About PHINIA

(Get Free Report)

PHINIA Inc. develops and manufactures fuel systems and aftermarket products for the global automotive and commercial vehicle industries. Its products include fuel injection and fuel delivery systems, ignition components, and related technologies for vehicles with internal combustion engines. The company also supplies replacement parts and services to the automotive aftermarket, including products under the Delphi brand. Its customers include vehicle and engine manufacturers as well as distributors and repair businesses.

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