PHINIA (NYSE:PHIN) Cut to “Buy” at Wall Street Zen

Wall Street Zen downgraded shares of PHINIA (NYSE:PHIN) from a strong-buy rating to a buy rating in a research note published on Saturday morning.

Other equities research analysts have also recently issued reports about the company. UBS Group lowered their target price on PHINIA from $81.00 to $80.00 and set a “neutral” rating for the company in a research note on Friday. KeyCorp assumed coverage on PHINIA in a report on Friday, June 12th. They issued an “overweight” rating and a $105.00 price target on the stock. Northland Securities set a $98.00 price objective on PHINIA in a research report on Friday. Zacks Research lowered PHINIA from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 30th. Finally, Weiss Ratings raised PHINIA from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, July 21st. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, PHINIA presently has a consensus rating of “Moderate Buy” and a consensus price target of $76.33.

PHINIA Trading Up 6.3%

PHIN opened at $78.21 on Friday. PHINIA has a 1-year low of $49.34 and a 1-year high of $86.93. The stock has a market capitalization of $2.87 billion, a PE ratio of 22.41 and a beta of 1.17. The company has a current ratio of 1.81, a quick ratio of 1.34 and a debt-to-equity ratio of 0.63. The firm has a 50-day moving average price of $79.52 and a two-hundred day moving average price of $74.41.

PHINIA (NYSE:PHIN) last announced its earnings results on Thursday, July 30th. The company reported $1.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.04). PHINIA had a return on equity of 13.86% and a net margin of 3.73%.The company had revenue of $940.00 million for the quarter, compared to analyst estimates of $918.83 million. As a group, equities analysts anticipate that PHINIA will post 6.24 earnings per share for the current fiscal year.

PHINIA Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 23rd. Shareholders of record on Tuesday, June 9th were given a dividend of $0.30 per share. The ex-dividend date was Tuesday, June 9th. This represents a $1.20 annualized dividend and a dividend yield of 1.5%. PHINIA’s payout ratio is presently 34.38%.

Insiders Place Their Bets

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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Larson Financial Group LLC increased its stake in shares of PHINIA by 151.5% in the 4th quarter. Larson Financial Group LLC now owns 425 shares of the company’s stock valued at $27,000 after acquiring an additional 256 shares during the last quarter. Federation des caisses Desjardins du Quebec boosted its stake in PHINIA by 2,500.0% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 780 shares of the company’s stock worth $49,000 after acquiring an additional 750 shares during the last quarter. State of Wyoming acquired a new position in PHINIA during the second quarter valued at approximately $60,000. Hantz Financial Services Inc. grew its holdings in PHINIA by 76.7% during the fourth quarter. Hantz Financial Services Inc. now owns 979 shares of the company’s stock valued at $61,000 after purchasing an additional 425 shares during the period. Finally, EverSource Wealth Advisors LLC increased its stake in PHINIA by 49.7% in the first quarter. EverSource Wealth Advisors LLC now owns 1,132 shares of the company’s stock valued at $77,000 after purchasing an additional 376 shares in the last quarter. 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.