Morgan Stanley Cuts PHINIA (NYSE:PHIN) Price Target to $46.00

PHINIA (NYSE:PHIN) had its price target dropped by research analysts at Morgan Stanley from $50.00 to $46.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s target price points to a potential upside of 4.77% from the stock’s current price.

PHIN has been the topic of a number of other research reports. Northland Capmk raised shares of PHINIA to a “strong-buy” rating in a research note on Thursday, January 30th. Northland Securities began coverage on PHINIA in a report on Thursday, January 30th. They issued an “outperform” rating and a $61.00 target price for the company. UBS Group reaffirmed a “neutral” rating and issued a $45.00 price target (down previously from $56.00) on shares of PHINIA in a research note on Thursday, April 10th. BNP Paribas lowered PHINIA from an “outperform” rating to a “neutral” rating and set a $46.00 price objective for the company. in a research note on Wednesday, April 23rd. Finally, Bank of America boosted their target price on shares of PHINIA from $53.00 to $55.00 and gave the company a “buy” rating in a research note on Thursday. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, PHINIA has a consensus rating of “Moderate Buy” and an average target price of $51.17.

PHINIA Stock Performance

Shares of PHIN stock traded down $0.29 during mid-day trading on Monday, reaching $43.91. The stock had a trading volume of 90,808 shares, compared to its average volume of 592,022. PHINIA has a one year low of $36.25 and a one year high of $57.23. The firm has a market cap of $1.75 billion, a PE ratio of 25.09 and a beta of 1.59. The firm’s 50 day simple moving average is $41.86 and its 200 day simple moving average is $47.40. The company has a quick ratio of 1.44, a current ratio of 1.90 and a debt-to-equity ratio of 0.61.

PHINIA (NYSE:PHIN) last issued its earnings results on Friday, April 25th. The company reported $0.94 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.10). PHINIA had a return on equity of 10.12% and a net margin of 2.32%. The firm had revenue of $796.00 million during the quarter, compared to the consensus estimate of $813.24 million. During the same period last year, the business earned $1.08 earnings per share. The firm’s revenue for the quarter was down 7.8% compared to the same quarter last year. On average, analysts forecast that PHINIA will post 4.21 EPS for the current year.

Insiders Place Their Bets

In other PHINIA news, CEO Brady D. Ericson bought 10,000 shares of the firm’s stock in a transaction on Wednesday, April 30th. The stock was purchased at an average cost of $39.73 per share, with a total value of $397,300.00. Following the completion of the purchase, the chief executive officer now owns 436,486 shares in the company, valued at approximately $17,341,588.78. The trade was a 2.34% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On PHINIA

Hedge funds have recently modified their holdings of the business. Smartleaf Asset Management LLC increased its stake in PHINIA by 149.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 698 shares of the company’s stock worth $33,000 after purchasing an additional 418 shares in the last quarter. CX Institutional bought a new stake in shares of PHINIA during the first quarter worth $31,000. Brooklyn Investment Group raised its holdings in shares of PHINIA by 853.0% during the first quarter. Brooklyn Investment Group now owns 1,582 shares of the company’s stock worth $67,000 after acquiring an additional 1,416 shares during the period. KBC Group NV raised its holdings in shares of PHINIA by 45.8% during the fourth quarter. KBC Group NV now owns 2,180 shares of the company’s stock worth $105,000 after acquiring an additional 685 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in PHINIA in the 4th quarter valued at $144,000. Institutional investors and hedge funds own 90.94% of the company’s stock.

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.