PHINIA (NYSE:PHIN) Rating Lowered to Hold at Zacks Research

PHINIA (NYSE:PHIN) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Tuesday,Zacks.com reports.

Several other research analysts have also weighed in on PHIN. UBS Group reiterated a “neutral” rating and set a $76.00 price objective on shares of PHINIA in a report on Friday, February 13th. Northland Securities set a $93.00 price objective on shares of PHINIA in a report on Friday, February 13th. Freedom Capital lowered shares of PHINIA from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 26th. Wall Street Zen upgraded shares of PHINIA from a “buy” rating to a “strong-buy” rating in a report on Sunday, February 22nd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of PHINIA in a report on Monday, December 29th. Three equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, PHINIA presently has an average rating of “Hold” and a consensus target price of $68.80.

PHINIA Trading Down 1.8%

Shares of PHIN stock opened at $68.88 on Tuesday. The firm has a market cap of $2.59 billion, a P/E ratio of 21.19 and a beta of 1.36. PHINIA has a 1-year low of $38.44 and a 1-year high of $81.11. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.86 and a quick ratio of 1.36. The firm’s 50-day simple moving average is $70.52 and its 200-day simple moving average is $63.02.

PHINIA (NYSE:PHIN) last announced its quarterly earnings data on Thursday, February 12th. The company reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.17). The company had revenue of $889.00 million for the quarter, compared to analysts’ expectations of $843.59 million. PHINIA had a return on equity of 12.56% and a net margin of 3.73%.The company’s revenue was up 6.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.71 earnings per share. As a group, equities analysts forecast that PHINIA will post 4.21 EPS for the current year.

Insider Activity at PHINIA

In related news, VP Christopher Gustanski sold 3,812 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $72.73, for a total value of $277,246.76. Following the transaction, the vice president owned 14,871 shares in the company, 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 SEC, which is accessible through the SEC website. Also, VP Neil Fryer sold 624 shares of the firm’s stock in a transaction that occurred on 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 transaction, the vice president owned 18,180 shares in the company, valued at $1,322,595. The trade was a 3.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of PHIN. ProShare Advisors LLC increased its stake in PHINIA by 1.9% during the fourth quarter. ProShare Advisors LLC now owns 7,409 shares of the company’s stock valued at $464,000 after purchasing an additional 141 shares during the last quarter. Acorn Financial Advisory Services Inc. ADV increased its stake in PHINIA by 2.7% during the fourth quarter. Acorn Financial Advisory Services Inc. ADV now owns 5,816 shares of the company’s stock valued at $365,000 after purchasing an additional 155 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its stake in PHINIA by 2.4% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 8,748 shares of the company’s stock valued at $548,000 after purchasing an additional 207 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in PHINIA by 34.4% during the third quarter. EverSource Wealth Advisors LLC now owns 868 shares of the company’s stock valued at $50,000 after purchasing an additional 222 shares during the last quarter. Finally, Old North State Wealth Management LLC increased its stake in PHINIA by 2.5% during the fourth quarter. Old North State Wealth Management LLC now owns 10,253 shares of the company’s stock valued at $643,000 after purchasing an additional 250 shares during the last quarter. Hedge funds and other institutional investors own 90.94% of the company’s stock.

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.