PHINIA (NYSE:PHIN) Lowered to “Hold” Rating by Zacks Research

PHINIA (NYSE:PHIN) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Tuesday,Zacks.com reports.

A number of other analysts have also issued reports on PHIN. Wall Street Zen upgraded shares of PHINIA from a “buy” rating to a “strong-buy” rating in a research note on Sunday, February 22nd. Weiss Ratings restated a “hold (c)” rating on shares of PHINIA in a research note on Monday, December 29th. UBS Group restated a “neutral” rating and issued a $76.00 price target on shares of PHINIA in a research note on Friday, February 13th. Northland Securities set a $93.00 price target on shares of PHINIA in a research note on Friday, February 13th. Finally, Freedom Capital lowered shares of PHINIA from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 26th. Three research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $68.80.

PHINIA Stock Down 1.8%

Shares of NYSE:PHIN opened at $68.88 on Tuesday. The company has a quick ratio of 1.36, a current ratio of 1.86 and a debt-to-equity ratio of 0.61. PHINIA has a 52-week low of $38.44 and a 52-week high of $81.11. The company has a 50 day moving average of $70.52 and a two-hundred day moving average of $63.02. The company has a market capitalization of $2.59 billion, a price-to-earnings ratio of 21.19 and a beta of 1.36.

PHINIA (NYSE:PHIN) last released its quarterly earnings results on Thursday, February 12th. The company reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.17). The company had revenue of $889.00 million for the quarter, compared to analyst estimates of $843.59 million. PHINIA had a return on equity of 12.56% and a net margin of 3.73%.The firm’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.71 EPS. As a group, analysts forecast that PHINIA will post 4.21 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other PHINIA news, VP Christopher Gustanski sold 3,812 shares of PHINIA stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $72.73, for a total value of $277,246.76. Following the completion of the transaction, the vice president owned 14,871 shares of the company’s stock, valued at $1,081,567.83. The trade was a 20.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Neil Fryer sold 624 shares of PHINIA stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $72.75, for a total transaction of $45,396.00. Following the completion of the transaction, the vice president directly owned 18,180 shares of the company’s stock, valued at approximately $1,322,595. This represents a 3.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On PHINIA

A number of hedge funds have recently added to or reduced their stakes in PHIN. ION Fund Management Ltd acquired a new position in PHINIA in the fourth quarter worth $32,285,000. Freestone Grove Partners LP boosted its holdings in PHINIA by 1,206.1% in the fourth quarter. Freestone Grove Partners LP now owns 557,097 shares of the company’s stock worth $34,924,000 after purchasing an additional 514,442 shares during the period. UBS Group AG boosted its holdings in PHINIA by 222.9% in the third quarter. UBS Group AG now owns 466,053 shares of the company’s stock worth $26,789,000 after purchasing an additional 321,708 shares during the period. Teacher Retirement System of Texas boosted its holdings in PHINIA by 92.2% in the third quarter. Teacher Retirement System of Texas now owns 416,328 shares of the company’s stock worth $23,931,000 after purchasing an additional 199,756 shares during the period. Finally, LSV Asset Management boosted its holdings in PHINIA by 13.8% in the third quarter. LSV Asset Management now owns 1,364,534 shares of the company’s stock worth $78,433,000 after purchasing an additional 165,316 shares during the period. 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. The Fuel Systems segment provides advanced fuel injection systems, including pumps, injectors, fuel rail assemblies, and engine control modules; fuel delivery modules; canisters; sensors; and electronic control modules.