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

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

PHIN has been the subject of several other research reports. Wall Street Zen raised PHINIA from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 2nd. Weiss Ratings cut shares of PHINIA from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, June 23rd. Finally, KeyCorp began coverage on shares of PHINIA in a report on Friday, June 12th. They issued an “overweight” rating and a $105.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, PHINIA currently has a consensus rating of “Moderate Buy” and an average target price of $74.83.

PHINIA Stock Performance

PHIN opened at $78.08 on Tuesday. The company has a current ratio of 1.82, a quick ratio of 1.32 and a debt-to-equity ratio of 0.62. The business’s 50 day moving average is $78.16 and its 200-day moving average is $71.95. The stock has a market cap of $2.89 billion, a PE ratio of 21.81 and a beta of 1.12. PHINIA has a twelve month low of $46.43 and a twelve month high of $86.93.

PHINIA (NYSE:PHIN) last issued its quarterly earnings data on Thursday, April 30th. The company reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.16. PHINIA had a return on equity of 13.23% and a net margin of 3.96%.The business had revenue of $878.00 million during the quarter, compared to analyst estimates of $838.67 million. During the same period in the prior year, the company posted $0.94 EPS. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. On average, analysts predict that PHINIA will post 6.24 earnings per share for the current year.

Insider Transactions at PHINIA

In other PHINIA news, VP Michael Coetzee sold 1,250 shares of PHINIA stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $80.61, for a total transaction of $100,762.50. Following the completion of the sale, the vice president owned 27,009 shares of the company’s stock, valued at $2,177,195.49. This trade represents a 4.42% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Samantha Pombier sold 2,227 shares of the business’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $82.36, for a total value of $183,415.72. Following the completion of the transaction, the vice president owned 6,637 shares in the company, valued at $546,623.32. This trade represents a 25.12% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of PHINIA by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 4,510,133 shares of the company’s stock valued at $282,740,000 after purchasing an additional 44,599 shares in the last quarter. Lodge Hill Capital LLC boosted its holdings in PHINIA by 450.8% in the first quarter. Lodge Hill Capital LLC now owns 2,381,150 shares of the company’s stock worth $162,966,000 after purchasing an additional 1,948,820 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in PHINIA by 1.5% in the first 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 in the last quarter. Voss Capital LP increased its position in PHINIA by 2.8% during the fourth 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 last quarter. Finally, Goldman Sachs Group Inc. increased its position in PHINIA by 6.4% during the first quarter. Goldman Sachs Group Inc. now owns 977,177 shares of the company’s stock worth $41,462,000 after buying an additional 58,875 shares during the last quarter. Institutional investors and hedge funds own 90.94% of the company’s stock.

PHINIA Company Profile

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.