Brokerages Set PHINIA Inc. (NYSE:PHIN) Price Target at $68.80
by Tristan Rich · The Markets DailyPHINIA Inc. (NYSE:PHIN – Get Free Report) has been given a consensus rating of “Moderate Buy” by the nine ratings firms that are presently covering the stock, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $68.80.
Several equities analysts have commented on PHIN shares. Wall Street Zen upgraded shares of PHINIA from a “buy” rating to a “strong-buy” rating in a report on Sunday, February 22nd. UBS Group reaffirmed a “neutral” rating and set a $76.00 target price on shares of PHINIA in a report on Friday, February 13th. Northland Securities set a $93.00 price target on shares of PHINIA in a research note on Friday, February 13th. Weiss Ratings reissued a “hold (c)” rating on shares of PHINIA in a report on Monday, December 29th. Finally, Freedom Capital cut PHINIA from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 26th.
Check Out Our Latest Report on PHIN
Insider Buying and Selling at PHINIA
In other news, VP Christopher Gustanski sold 3,812 shares of PHINIA stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $72.73, for a total transaction of $277,246.76. Following the completion of the sale, the vice president owned 14,871 shares of the company’s stock, valued at approximately $1,081,567.83. This trade represents a 20.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Neil Fryer sold 624 shares of the business’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $72.75, for a total transaction of $45,396.00. Following the completion of the sale, the vice president directly owned 18,180 shares of the company’s stock, valued at approximately $1,322,595. The trade was a 3.32% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 2.00% of the company’s stock.
Institutional Trading of PHINIA
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Royal Bank of Canada boosted its holdings in PHINIA by 464.8% in the 1st quarter. Royal Bank of Canada now owns 75,745 shares of the company’s stock valued at $3,214,000 after purchasing an additional 62,333 shares during the period. AQR Capital Management LLC raised its position in shares of PHINIA by 62.3% in the first quarter. AQR Capital Management LLC now owns 22,343 shares of the company’s stock valued at $938,000 after buying an additional 8,576 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of PHINIA by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,891 shares of the company’s stock valued at $1,056,000 after buying an additional 1,093 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of PHINIA by 6.4% in the first quarter. Goldman Sachs Group Inc. now owns 977,177 shares of the company’s stock valued at $41,462,000 after buying an additional 58,875 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of PHINIA by 7.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 94,270 shares of the company’s stock valued at $4,000,000 after buying an additional 6,478 shares during the period. Institutional investors and hedge funds own 90.94% of the company’s stock.
PHINIA Stock Performance
PHIN opened at $67.17 on Thursday. The company has a quick ratio of 1.36, a current ratio of 1.86 and a debt-to-equity ratio of 0.61. PHINIA has a 12-month low of $36.25 and a 12-month high of $81.11. The business has a 50 day moving average of $70.44 and a 200-day moving average of $61.95. The stock has a market cap of $2.55 billion, a price-to-earnings ratio of 20.67 and a beta of 1.36.
PHINIA (NYSE:PHIN – Get Free Report) last posted its earnings results on Thursday, February 12th. The company reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.17). PHINIA had a return on equity of 12.56% and a net margin of 3.73%.The business had revenue of $889.00 million for the quarter, compared to analyst estimates of $843.59 million. During the same period in the previous year, the firm posted $0.71 earnings per share. The firm’s revenue was up 6.7% compared to the same quarter last year. On average, equities research analysts expect that PHINIA will post 4.21 earnings per share for the current year.
PHINIA Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, March 20th. Investors of record on Friday, March 6th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Friday, March 6th. This is an increase from PHINIA’s previous quarterly dividend of $0.27. PHINIA’s payout ratio is 36.92%.
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. The Fuel Systems segment provides advanced fuel injection systems, including pumps, injectors, fuel rail assemblies, and engine control modules; fuel delivery modules; canisters; sensors; and electronic control modules.