PHINIA (NYSE:PHIN) Reaches New 1-Year High – Still a Buy?

Shares of PHINIA Inc. (NYSE:PHIN) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $59.96 and last traded at $60.3490, with a volume of 6388 shares traded. The stock had previously closed at $59.32.

Analyst Ratings Changes

PHIN has been the topic of several research reports. BNP Paribas Exane raised shares of PHINIA from a “neutral” rating to an “outperform” rating and set a $63.00 price objective on the stock in a research report on Monday, November 3rd. Bank of America lifted their price target on PHINIA from $60.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, September 10th. Citigroup reaffirmed a “neutral” rating on shares of PHINIA in a research report on Tuesday, October 14th. Zacks Research downgraded PHINIA from a “strong-buy” rating to a “hold” rating in a report on Friday, October 10th. Finally, BNP Paribas upgraded PHINIA from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 3rd. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $56.43.

PHINIA Stock Performance

The company has a market capitalization of $2.31 billion, a price-to-earnings ratio of 27.11, a P/E/G ratio of 0.55 and a beta of 1.44. The stock’s 50 day moving average price is $54.09 and its 200 day moving average price is $52.48. The company has a current ratio of 1.72, a quick ratio of 1.25 and a debt-to-equity ratio of 0.61.

PHINIA (NYSE:PHIN) last released its earnings results on Tuesday, October 28th. The company reported $1.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.42. PHINIA had a return on equity of 11.64% and a net margin of 2.63%.The business had revenue of $908.00 million for the quarter, compared to the consensus estimate of $861.57 million. During the same quarter in the previous year, the business earned $1.17 earnings per share. PHINIA’s quarterly revenue was up 8.2% on a year-over-year basis. Analysts expect that PHINIA Inc. will post 4.21 earnings per share for the current year.

PHINIA Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 12th. Stockholders of record on Monday, November 24th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Monday, November 24th. PHINIA’s dividend payout ratio is presently 48.65%.

Insiders Place Their Bets

In other news, VP Hongyong Yang sold 893 shares of PHINIA stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $52.43, for a total value of $46,819.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Samantha Pombier sold 1,940 shares of the business’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $54.14, for a total transaction of $105,031.60. Following the transaction, the vice president owned 8,869 shares in the company, valued at $480,167.66. This represents a 17.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 2.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On PHINIA

A number of hedge funds and other institutional investors have recently bought and sold shares of PHIN. EMC Capital Management bought a new position in shares of PHINIA during the 2nd quarter worth approximately $39,000. TD Waterhouse Canada Inc. raised its stake in PHINIA by 350.0% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 900 shares of the company’s stock valued at $42,000 after acquiring an additional 700 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in PHINIA by 34.4% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 868 shares of the company’s stock valued at $50,000 after purchasing an additional 222 shares during the last quarter. MAI Capital Management boosted its position in PHINIA by 845.4% during the third quarter. MAI Capital Management now owns 917 shares of the company’s stock worth $53,000 after purchasing an additional 820 shares during the period. Finally, State of Wyoming bought a new position in PHINIA during the second quarter worth $60,000. Institutional investors 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.