PHINIA (NYSE:PHIN) Cut to “Buy” at Wall Street Zen

Wall Street Zen downgraded shares of PHINIA (NYSE:PHIN) from a strong-buy rating to a buy rating in a research report sent to investors on Saturday morning.

A number of other brokerages have also issued reports on PHIN. BNP Paribas Exane upgraded shares of PHINIA from a “neutral” rating to an “outperform” rating and set a $63.00 price target on the stock in a research note on Monday, November 3rd. UBS Group reiterated a “neutral” rating and set a $76.00 target price on shares of PHINIA in a research report on Friday. Zacks Research raised PHINIA from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 31st. Weiss Ratings restated a “hold (c)” rating on shares of PHINIA in a research note on Monday, December 29th. Finally, Northland Securities set a $93.00 price objective on PHINIA in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $66.33.

PHINIA Price Performance

Shares of NYSE PHIN opened at $75.73 on Friday. The stock has a fifty day moving average price of $66.70 and a 200 day moving average price of $59.17. PHINIA has a 1-year low of $36.25 and a 1-year high of $78.90. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.86 and a quick ratio of 1.36. The company has a market cap of $2.87 billion, a PE ratio of 23.30 and a beta of 1.37.

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

PHINIA Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, March 6th will be issued a dividend of $0.30 per share. This is a boost from PHINIA’s previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Friday, March 6th. PHINIA’s payout ratio is presently 33.23%.

Insider Buying and Selling

In other news, VP Hongyong Yang sold 893 shares of the firm’s stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $52.43, for a total value of $46,819.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On PHINIA

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in PHINIA by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 4,510,133 shares of the company’s stock valued at $282,740,000 after acquiring an additional 44,599 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of PHINIA by 2.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,301,996 shares of the company’s stock worth $144,314,000 after purchasing an additional 45,214 shares in the last quarter. Voss Capital LP increased its stake in shares of PHINIA by 10.8% during the 2nd quarter. Voss Capital LP now owns 2,290,000 shares of the company’s stock worth $101,882,000 after purchasing an additional 222,658 shares in the last quarter. American Century Companies Inc. raised its position in shares of PHINIA by 4.7% during the 3rd quarter. American Century Companies Inc. now owns 1,641,916 shares of the company’s stock worth $94,377,000 after purchasing an additional 74,430 shares during the last quarter. Finally, LSV Asset Management lifted its stake in PHINIA by 13.8% in the 3rd quarter. LSV Asset Management now owns 1,364,534 shares of the company’s stock valued at $78,433,000 after buying an additional 165,316 shares in the last quarter. 90.94% of the stock is owned by institutional investors and hedge funds.

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.