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

Wall Street Zen cut shares of PHINIA (NYSE:PHIN) from a buy rating to a hold rating in a research note published on Sunday.

PHIN has been the subject of several other reports. Zacks Research cut shares of PHINIA from a “hold” rating to a “strong sell” rating in a research note on Monday, August 3rd. UBS Group dropped their price objective on shares of PHINIA from $81.00 to $80.00 and set a “neutral” rating on the stock in a report on Friday, July 31st. KeyCorp started coverage on shares of PHINIA in a report on Friday, June 12th. They set an “overweight” rating and a $105.00 price objective on the stock. Weiss Ratings raised shares of PHINIA from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, July 21st. Finally, Northland Securities set a $98.00 target price on shares of PHINIA in a research note on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $82.00.

PHINIA Stock Performance

Shares of PHIN opened at $74.83 on Friday. The company has a market capitalization of $2.74 billion, a PE ratio of 21.44 and a beta of 1.17. PHINIA has a one year low of $50.79 and a one year high of $86.93. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.81 and a quick ratio of 1.34. The company’s fifty day moving average price is $79.34 and its 200 day moving average price is $74.68.

PHINIA (NYSE:PHIN) last released its quarterly 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). The firm had revenue of $940.00 million for the quarter, compared to the consensus estimate of $918.83 million. PHINIA had a net margin of 3.73% and a return on equity of 13.86%. As a group, analysts expect that PHINIA will post 6.18 earnings per share for the current year.

PHINIA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, September 4th will be paid a dividend of $0.30 per share. The ex-dividend date is Friday, September 4th. This represents a $1.20 dividend on an annualized basis and a yield of 1.6%. PHINIA’s payout ratio is currently 34.38%.

Insiders Place Their Bets

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

Institutional Investors Weigh In On PHINIA

A number of institutional investors have recently added to or reduced their stakes in the stock. C M Bidwell & Associates Ltd. bought a new stake in shares of PHINIA in the 2nd quarter valued at approximately $84,000. Baron Wealth Management LLC lifted its position in shares of PHINIA by 3.7% during the 2nd quarter. Baron Wealth Management LLC now owns 4,542 shares of the company’s stock worth $374,000 after buying an additional 160 shares during the period. Western Wealth Management LLC bought a new position in shares of PHINIA during the 1st quarter worth approximately $447,000. Lodge Hill Capital LLC boosted its stake in PHINIA by 450.8% in the 1st quarter. Lodge Hill Capital LLC now owns 2,381,150 shares of the company’s stock valued at $162,966,000 after buying an additional 1,948,820 shares in the last quarter. Finally, Amundi grew its position in PHINIA by 4,268.6% in the first quarter. Amundi now owns 200,693 shares of the company’s stock valued at $13,735,000 after acquiring an additional 196,099 shares during the period. 90.94% of the stock is owned by institutional investors and hedge funds.

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.