PHINIA (NYSE:PHIN) Research Coverage Started at UBS Group

UBS Group began coverage on shares of PHINIA (NYSE:PHIN) in a research note released on Wednesday morning, MarketBeat Ratings reports. The brokerage issued a buy rating and a $55.00 price objective on the stock.

PHINIA Price Performance

Shares of NYSE:PHIN opened at $46.19 on Wednesday. The business’s 50 day simple moving average is $44.22 and its 200-day simple moving average is $41.18. The firm has a market capitalization of $2.02 billion, a price-to-earnings ratio of 9.33 and a beta of 0.86. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.85 and a quick ratio of 1.38. PHINIA has a 12 month low of $23.46 and a 12 month high of $49.31.

PHINIA (NYSE:PHIN) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.88 EPS for the quarter, missing the consensus estimate of $1.15 by ($0.27). PHINIA had a return on equity of 8.04% and a net margin of 2.48%. The firm had revenue of $868.00 million for the quarter, compared to analysts’ expectations of $889.00 million. During the same period last year, the firm earned $1.61 EPS. PHINIA’s revenue was down 2.1% compared to the same quarter last year. As a group, equities analysts forecast that PHINIA will post 3.37 earnings per share for the current fiscal year.

PHINIA Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 23rd will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date is Friday, August 23rd. PHINIA’s payout ratio is currently 20.20%.

Insider Activity at PHINIA

In related news, VP Michael Coetzee sold 900 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $47.71, for a total value of $42,939.00. Following the sale, the vice president now owns 29,540 shares of the company’s stock, valued at approximately $1,409,353.40. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PHIN. Victory Capital Management Inc. raised its holdings in PHINIA by 17.0% in the 4th quarter. Victory Capital Management Inc. now owns 9,729 shares of the company’s stock valued at $295,000 after acquiring an additional 1,411 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in PHINIA by 4.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 337,218 shares of the company’s stock valued at $10,214,000 after acquiring an additional 14,289 shares during the last quarter. Gladius Capital Management LP raised its holdings in PHINIA by 34.3% in the 4th quarter. Gladius Capital Management LP now owns 6,679 shares of the company’s stock valued at $202,000 after acquiring an additional 1,706 shares during the last quarter. Versor Investments LP acquired a new position in PHINIA in the 4th quarter valued at $236,000. Finally, Jump Financial LLC raised its holdings in PHINIA by 38.8% in the 4th quarter. Jump Financial LLC now owns 11,953 shares of the company’s stock valued at $362,000 after acquiring an additional 3,342 shares during the last quarter. 90.94% of the stock is currently 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.