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

Zacks Research lowered shares of PHINIA (NYSE:PHIN) from a strong-buy rating to a hold rating in a report issued on Tuesday,Zacks.com reports.

A number of other research firms have also weighed in on PHIN. Weiss Ratings lowered shares of PHINIA from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, June 23rd. KeyCorp assumed coverage on PHINIA in a research note on Friday, June 12th. They set an “overweight” rating and a $105.00 target price for the company. Finally, Wall Street Zen upgraded PHINIA from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 2nd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, PHINIA presently has a consensus rating of “Moderate Buy” and an average price target of $74.83.

PHINIA Stock Down 5.2%

NYSE PHIN opened at $78.08 on Tuesday. The company has a quick ratio of 1.32, a current ratio of 1.82 and a debt-to-equity ratio of 0.62. PHINIA has a fifty-two week low of $46.43 and a fifty-two week high of $86.93. The business has a 50 day moving average price of $78.16 and a two-hundred day moving average price of $71.95. The stock has a market cap of $2.89 billion, a PE ratio of 21.81 and a beta of 1.12.

PHINIA (NYSE:PHIN) last posted its quarterly earnings data on Thursday, April 30th. The company reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.16. PHINIA had a net margin of 3.96% and a return on equity of 13.23%. The company had revenue of $878.00 million for the quarter, compared to analyst estimates of $838.67 million. During the same quarter last year, the firm posted $0.94 earnings per share. The business’s quarterly revenue was up 10.3% on a year-over-year basis. As a group, sell-side analysts predict that PHINIA will post 6.24 EPS for the current fiscal year.

PHINIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 23rd. Shareholders of record on Tuesday, June 9th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Tuesday, June 9th. PHINIA’s dividend payout ratio is 33.52%.

Insider Buying and Selling at PHINIA

In other news, VP Samantha Pombier sold 2,227 shares of the company’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $82.36, for a total value of $183,415.72. Following the sale, the vice president owned 6,637 shares in the company, valued at approximately $546,623.32. This represents a 25.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Michael Coetzee sold 1,250 shares of the company’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $80.61, for a total transaction of $100,762.50. Following the completion of the sale, the vice president owned 27,009 shares in the company, valued at approximately $2,177,195.49. This trade represents a 4.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On PHINIA

Hedge funds have recently bought and sold shares of the company. Western Wealth Management LLC bought a new stake in PHINIA in the first quarter valued at about $447,000. Lodge Hill Capital LLC lifted its holdings in PHINIA by 450.8% during the 1st quarter. Lodge Hill Capital LLC now owns 2,381,150 shares of the company’s stock worth $162,966,000 after buying an additional 1,948,820 shares during the last quarter. Amundi lifted its holdings in PHINIA by 4,268.6% during the 1st quarter. Amundi now owns 200,693 shares of the company’s stock worth $13,735,000 after buying an additional 196,099 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of PHINIA by 49.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,132 shares of the company’s stock worth $77,000 after acquiring an additional 376 shares in the last quarter. Finally, California State Teachers Retirement System grew its position in shares of PHINIA by 23.8% in the 1st quarter. California State Teachers Retirement System now owns 46,834 shares of the company’s stock worth $3,205,000 after acquiring an additional 9,008 shares in 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. 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.