PHINIA (NYSE:PHIN) Raised to Strong-Buy at Zacks Research

PHINIA (NYSE:PHIN) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Wednesday,Zacks.com reports.

PHIN has been the subject of a number of other research reports. Wall Street Zen raised PHINIA from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 2nd. Freedom Capital cut PHINIA from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 26th. Northland Securities set a $93.00 target price on PHINIA in a research note on Friday, February 13th. UBS Group reissued a “neutral” rating and issued a $76.00 target price on shares of PHINIA in a report on Friday, February 13th. Finally, Weiss Ratings upgraded shares of PHINIA from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $68.80.

PHINIA Stock Performance

Shares of NYSE:PHIN opened at $79.56 on Wednesday. The company’s 50 day simple moving average is $70.55 and its 200 day simple moving average is $65.85. The stock has a market capitalization of $2.95 billion, a price-to-earnings ratio of 22.22 and a beta of 1.16. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.82 and a quick ratio of 1.32. PHINIA has a 1 year low of $41.28 and a 1 year high of $81.11.

PHINIA (NYSE:PHIN) last announced its quarterly earnings data on Thursday, April 30th. The company reported $1.29 EPS for the quarter, beating the consensus estimate of $1.13 by $0.16. The business had revenue of $878.00 million during the quarter, compared to the consensus estimate of $838.67 million. PHINIA had a net margin of 3.96% and a return on equity of 13.23%. The company’s revenue was up 10.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.94 earnings per share. As a group, research analysts predict that PHINIA will post 6.36 EPS for the current fiscal year.

Insider Activity at PHINIA

In other PHINIA news, VP Neil Fryer sold 624 shares of the business’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 sale, the vice president directly owned 18,180 shares of the company’s stock, valued at $1,322,595. The trade was a 3.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Christopher Gustanski sold 3,812 shares of the business’s stock in a transaction that occurred 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 sale, the vice president directly owned 14,871 shares in the company, valued at $1,081,567.83. The trade was a 20.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On PHINIA

A number of hedge funds have recently modified their holdings of PHIN. Vanguard Group Inc. grew its stake in shares of PHINIA by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 4,510,133 shares of the company’s stock worth $282,740,000 after purchasing an additional 44,599 shares during the last quarter. Dimensional Fund Advisors LP raised its position in PHINIA by 1.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,336,499 shares of the company’s stock worth $159,901,000 after purchasing an additional 34,503 shares during the last quarter. Voss Capital LP lifted its holdings in PHINIA by 2.8% during the 4th quarter. Voss Capital LP now owns 1,727,468 shares of the company’s stock worth $108,295,000 after buying an additional 47,468 shares during the period. American Century Companies Inc. lifted its holdings in PHINIA by 4.7% during the 3rd quarter. American Century Companies Inc. now owns 1,641,916 shares of the company’s stock worth $94,377,000 after buying an additional 74,430 shares during the period. Finally, LSV Asset Management grew its position in shares of PHINIA by 13.8% in the 3rd quarter. LSV Asset Management now owns 1,364,534 shares of the company’s stock valued at $78,433,000 after buying an additional 165,316 shares during the last quarter. Institutional investors and hedge funds 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.