PHINIA (NYSE:PHIN) Stock Rating Raised to Buy at Wall Street Zen

Wall Street Zen upgraded shares of PHINIA (NYSE:PHIN) from a hold rating to a buy rating in a research note released on Saturday,Wall Street Zen reports.

Several other research firms have also commented on PHIN. Northland Securities set a $98.00 price target on PHINIA in a research report on Friday, July 31st. UBS Group increased their price objective on shares of PHINIA from $68.00 to $69.00 and gave the company a “neutral” rating in a research report on Friday, October 30th. Weiss Ratings lowered shares of PHINIA from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, September 16th. Finally, Zacks Research upgraded shares of PHINIA from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, PHINIA currently has a consensus rating of “Moderate Buy” and an average price target of $90.67.

PHINIA Trading Down 0.4%

NYSE:PHIN opened at $68.80 on Friday. The business’s 50-day moving average is $61.99 and its two-hundred day moving average is $71.34. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.70 and a quick ratio of 1.28. PHINIA has a 12 month low of $51.38 and a 12 month high of $86.93. The firm has a market capitalization of $2.47 billion, a PE ratio of 13.87 and a beta of 1.16.

PHINIA (NYSE:PHIN) last issued its quarterly earnings data on Thursday, October 29th. The company reported $1.83 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.15. PHINIA had a return on equity of 14.32% and a net margin of 5.22%. The company had revenue of $912.00 million for the quarter, compared to analysts’ expectations of $928.21 million. Research analysts predict that PHINIA will post 6.10 earnings per share for the current fiscal year.

Insider Transactions at PHINIA

In other PHINIA news, VP Todd L. Anderson sold 3,056 shares of PHINIA stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $66.41, for a total transaction of $202,948.96. Following the sale, the vice president directly owned 26,736 shares in the company, valued at $1,775,537.76. The trade was a 10.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Christopher Gustanski sold 2,097 shares of PHINIA stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $66.97, for a total value of $140,436.09. Following the sale, the vice president owned 11,301 shares in the company, valued at $756,827.97. This represents a 15.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 55,270 shares of company stock valued at $3,698,592 in the last three months. 2.20% of the stock is currently owned by company insiders.

Institutional Trading of PHINIA

A number of hedge funds have recently made changes to their positions in PHIN. Lodge Hill Capital LLC boosted its stake in PHINIA by 450.8% during the 1st quarter. Lodge Hill Capital LLC now owns 2,381,150 shares of the company’s stock valued at $162,966,000 after acquiring an additional 1,948,820 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings 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 acquiring an additional 34,503 shares in the last quarter. Wellington Management Group LLP increased its position in shares of PHINIA by 1.5% in the 2nd quarter. Wellington Management Group LLP now owns 298,734 shares of the company’s stock worth $24,607,000 after purchasing an additional 4,274 shares during the last quarter. Amundi increased its position in shares of PHINIA by 4,268.6% in the 1st quarter. Amundi now owns 200,693 shares of the company’s stock worth $13,735,000 after purchasing an additional 196,099 shares during the last quarter. Finally, Empowered Funds LLC increased its position in shares of PHINIA by 3.3% in the 1st quarter. Empowered Funds LLC now owns 184,368 shares of the company’s stock worth $12,618,000 after purchasing an additional 5,869 shares during the last quarter. Institutional investors and hedge funds own 90.94% of the company’s stock.

About PHINIA

PHINIA Inc (NYSE:PHIN) is a global supplier of fuel systems, electrical systems and aftermarket products for automotive, commercial vehicle and industrial applications. The company develops technologies that support the performance, efficiency and emissions management of internal-combustion engines and other propulsion systems.

Its products include fuel injectors, fuel pumps and modules, fuel-system controls, ignition components, sensors, actuators and electronic control systems. PHINIA also supplies diesel fuel systems and related technologies for commercial vehicles and off-highway equipment, as well as replacement parts, service products and solutions through its aftermarket business.

PHINIA was established as an independent public company in 2023 after being spun off from BorgWarner.