PHINIA (NYSE:PHIN) Sets New 12-Month High at $42.48

PHINIA Inc. (NYSE:PHIN) shares hit a new 52-week high during trading on Monday . The company traded as high as $42.48 and last traded at $42.48, with a volume of 110311 shares changing hands. The stock had previously closed at $41.08.

Wall Street Analyst Weigh In

Separately, Morgan Stanley initiated coverage on PHINIA in a report on Monday, March 11th. They set an “overweight” rating and a $50.00 price target on the stock.

PHINIA Price Performance

The business’s 50 day moving average price is $37.41 and its 200 day moving average price is $31.53. The company has a quick ratio of 1.27, a current ratio of 1.71 and a debt-to-equity ratio of 0.38.

PHINIA (NYSE:PHIN) last issued its quarterly earnings data on Thursday, April 25th. The company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.34. The business had revenue of $863.00 million for the quarter, compared to analysts’ expectations of $800.00 million. PHINIA had a return on equity of 7.52% and a net margin of 3.06%. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. Equities research analysts anticipate that PHINIA Inc. will post 4.05 EPS for the current fiscal year.

Hedge Funds Weigh In On PHINIA

Large investors have recently made changes to their positions in the business. Texas Permanent School Fund Corp increased its stake in shares of PHINIA by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 40,858 shares of the company’s stock worth $1,570,000 after acquiring an additional 534 shares during the period. Banyan Capital Management Inc. grew its position in PHINIA by 0.8% during the 1st quarter. Banyan Capital Management Inc. now owns 243,520 shares of the company’s stock worth $9,358,000 after purchasing an additional 1,935 shares during the period. Easterly Investment Partners LLC raised its stake in shares of PHINIA by 26.8% during the 1st quarter. Easterly Investment Partners LLC now owns 45,940 shares of the company’s stock valued at $1,765,000 after buying an additional 9,721 shares during the last quarter. GSA Capital Partners LLP acquired a new position in shares of PHINIA in the 1st quarter valued at about $564,000. Finally, Central Pacific Bank Trust Division acquired a new position in shares of PHINIA in the 1st quarter valued at about $63,000. 90.94% of the stock is owned by institutional investors and hedge funds.

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.