PHINIA (NYSE:PHIN) Rating Lowered to Hold at Wall Street Zen

PHINIA (NYSE:PHIN) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Sunday.

Several other equities research analysts have also issued reports on PHIN. Northland Securities set a $98.00 target price on shares of PHINIA in a report on Friday, July 31st. UBS Group lowered their price target on shares of PHINIA from $81.00 to $80.00 and set a “neutral” rating on the stock in a report on Friday, July 31st. KeyCorp started coverage on shares of PHINIA in a research report on Friday, June 12th. They issued an “overweight” rating and a $105.00 price target for the company. Weiss Ratings raised shares of PHINIA from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, July 21st. Finally, Zacks Research downgraded shares of PHINIA from a “hold” rating to a “strong sell” rating in a research report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $76.33.

PHINIA Price Performance

Shares of PHINIA stock opened at $74.10 on Friday. PHINIA has a one year low of $50.79 and a one year high of $86.93. The stock’s fifty day moving average is $79.41 and its 200 day moving average is $74.65. The stock has a market cap of $2.72 billion, a P/E ratio of 21.23 and a beta of 1.17. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.34 and a current ratio of 1.81.

PHINIA (NYSE:PHIN) last released its quarterly earnings results on Thursday, July 30th. The company reported $1.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.57 by ($0.04). PHINIA had a net margin of 3.73% and a return on equity of 13.86%. The company had revenue of $940.00 million for the quarter, compared to the consensus estimate of $918.83 million. Sell-side analysts anticipate that PHINIA will post 6.18 earnings per share for the current year.

Insider Buying and Selling

In other PHINIA news, VP Samantha Pombier sold 2,227 shares of the firm’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $82.36, for a total transaction of $183,415.72. Following the completion of the transaction, the vice president owned 6,637 shares in the company, valued at $546,623.32. This trade represents a 25.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Michael Coetzee sold 1,250 shares of the business’s stock in a transaction on Wednesday, June 10th. The stock was 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 $2,177,195.49. This represents a 4.42% decrease in their position. The disclosure for this sale is available in the SEC filing. 2.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PHINIA

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PHIN. Larson Financial Group LLC increased its position in shares of PHINIA by 151.5% during the 4th quarter. Larson Financial Group LLC now owns 425 shares of the company’s stock valued at $27,000 after purchasing an additional 256 shares during the last quarter. Federation des caisses Desjardins du Quebec lifted its position in PHINIA by 2,500.0% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 780 shares of the company’s stock worth $49,000 after buying an additional 750 shares during the last quarter. State of Wyoming purchased a new position in PHINIA during the second quarter worth $60,000. Hantz Financial Services Inc. increased its position in PHINIA by 76.7% during the fourth quarter. Hantz Financial Services Inc. now owns 979 shares of the company’s stock valued at $61,000 after acquiring an additional 425 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in shares of PHINIA by 49.7% in the first quarter. EverSource Wealth Advisors LLC now owns 1,132 shares of the company’s stock valued at $77,000 after acquiring an additional 376 shares during the period. 90.94% of the stock is currently owned by hedge funds and other institutional investors.

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.