Analysts Set PHINIA Inc. (NYSE:PHIN) Price Target at $51.50

PHINIA Inc. (NYSE:PHIN) has received a consensus rating of “Moderate Buy” from the seven brokerages that are currently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $51.50.

A number of analysts have weighed in on PHIN shares. UBS Group restated a “neutral” rating and issued a $45.00 price target (down from $56.00) on shares of PHINIA in a research note on Thursday, April 10th. Northland Capmk raised PHINIA to a “strong-buy” rating in a report on Thursday, January 30th. CL King assumed coverage on PHINIA in a report on Monday, March 24th. They set a “buy” rating and a $54.00 price objective on the stock. Bank of America assumed coverage on PHINIA in a report on Thursday, April 10th. They set a “buy” rating and a $53.00 price objective on the stock. Finally, Northland Securities assumed coverage on PHINIA in a report on Thursday, January 30th. They set an “outperform” rating and a $61.00 price objective on the stock.

PHINIA Stock Down 0.5%

PHINIA stock opened at $41.75 on Monday. PHINIA has a 1-year low of $36.25 and a 1-year high of $57.23. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.90 and a quick ratio of 1.44. The stock has a market cap of $1.66 billion, a PE ratio of 23.86 and a beta of 1.59. The stock’s fifty day moving average is $41.76 and its two-hundred day moving average is $47.44.

PHINIA (NYSE:PHIN) last posted its quarterly earnings results on Friday, April 25th. The company reported $0.94 earnings per share for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.10). PHINIA had a net margin of 2.32% and a return on equity of 10.12%. The business had revenue of $796.00 million during the quarter, compared to analyst estimates of $813.24 million. During the same quarter in the prior year, the business earned $1.08 earnings per share. The firm’s quarterly revenue was down 7.8% on a year-over-year basis. On average, sell-side analysts expect that PHINIA will post 4.21 EPS for the current fiscal year.

PHINIA Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a dividend of $0.27 per share. The ex-dividend date was Friday, February 28th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.59%. This is a positive change from PHINIA’s previous quarterly dividend of $0.25. PHINIA’s dividend payout ratio (DPR) is currently 61.36%.

Insider Buying and Selling

In related news, CEO Brady D. Ericson purchased 10,000 shares of the stock in a transaction that occurred on Wednesday, April 30th. The shares were purchased at an average price of $39.73 per share, with a total value of $397,300.00. Following the completion of the acquisition, the chief executive officer now directly owns 436,486 shares in the company, valued at $17,341,588.78. This represents a 2.34% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On PHINIA

Hedge funds and other institutional investors have recently made changes to their positions in the stock. CX Institutional purchased a new position in shares of PHINIA during the first quarter worth about $31,000. Smartleaf Asset Management LLC lifted its position in PHINIA by 149.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 698 shares of the company’s stock valued at $33,000 after purchasing an additional 418 shares during the period. KBC Group NV lifted its position in PHINIA by 45.8% in the fourth quarter. KBC Group NV now owns 2,180 shares of the company’s stock valued at $105,000 after purchasing an additional 685 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in PHINIA in the fourth quarter valued at about $144,000. Finally, AlphaQuest LLC acquired a new stake in PHINIA in the fourth quarter valued at about $173,000. Hedge funds and other institutional investors own 90.94% of the company’s stock.

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.