PHINIA (NYSE:PHIN) Upgraded at Zacks Research

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

Several other brokerages have also issued reports on PHIN. KeyCorp started coverage on shares of PHINIA in a report on Friday, June 12th. They issued an “overweight” rating and a $105.00 price target on the stock. Weiss Ratings lowered PHINIA from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, September 16th. UBS Group cut their target price on PHINIA from $81.00 to $80.00 and set a “neutral” rating for the company in a research report on Friday, July 31st. Wall Street Zen upgraded PHINIA from a “hold” rating to a “buy” rating in a research report on Monday, September 14th. Finally, Northland Securities set a $98.00 price target on PHINIA in a research report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $86.50.

PHINIA Trading Down 1.5%

PHINIA stock opened at $59.51 on Tuesday. The business has a 50 day moving average price of $69.70 and a two-hundred day moving average price of $73.35. The company has a quick ratio of 1.34, a current ratio of 1.81 and a debt-to-equity ratio of 0.63. The stock has a market cap of $2.18 billion, a price-to-earnings ratio of 17.05 and a beta of 1.14. PHINIA has a 12 month low of $50.79 and a 12 month high of $86.93.

PHINIA (NYSE:PHIN) last announced its quarterly earnings data on Thursday, July 30th. The company reported $1.53 earnings per share for the quarter, missing the consensus estimate of $1.57 by ($0.04). The firm had revenue of $940.00 million for the quarter, compared to analyst estimates of $918.83 million. PHINIA had a return on equity of 13.86% and a net margin of 3.73%. As a group, equities analysts forecast that PHINIA will post 6.18 EPS for the current year.

Insider Buying and Selling at PHINIA

In related news, CFO Chris Gropp sold 13,500 shares of the firm’s stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $66.71, for a total value of $900,585.00. Following the transaction, the chief financial officer owned 43,823 shares in the company, valued at $2,923,432.33. This trade represents a 23.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brady Ericson sold 27,860 shares of PHINIA stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $68.39, for a total value of $1,905,345.40. Following the completion of the sale, the chief executive officer owned 330,497 shares of the company’s stock, valued at approximately $22,602,689.83. The trade was a 7.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 55,270 shares of company stock valued at $3,698,592 over the last ninety days. Company insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On PHINIA

Several institutional investors have recently modified their holdings of PHIN. Tidal Investments LLC raised its stake in shares of PHINIA by 11.7% during the second quarter. Tidal Investments LLC now owns 8,699 shares of the company’s stock worth $717,000 after buying an additional 914 shares during the last quarter. Integrated Wealth Concepts LLC bought a new position in PHINIA in the second quarter valued at approximately $39,000. Nykredit A S bought a new position in PHINIA in the second quarter valued at approximately $38,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in PHINIA during the 2nd quarter worth $346,000. Finally, Odyssean LLC acquired a new stake in PHINIA during the 2nd quarter worth $358,000. 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 commercial vehicles, passenger vehicles and industrial applications. The company’s products are designed to support internal-combustion, hybrid and other powertrain technologies.

Its product portfolio includes fuel injectors, fuel pumps, fuel modules, electronic control units, sensors, actuators, ignition components, starters and alternators. PHINIA also provides replacement parts, diagnostic equipment and related service solutions through its aftermarket business, which serves original-equipment and independent repair channels.

PHINIA was established as an independent public company in 2023 through the separation of BorgWarner’s fuel systems and aftermarket businesses.