PHINIA Inc. (NYSE:PHIN) Receives $63.17 Average Price Target from Brokerages

Shares of PHINIA Inc. (NYSE:PHIN) have been assigned an average recommendation of “Moderate Buy” from the nine ratings firms that are currently covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $63.1667.

A number of equities research analysts have recently weighed in on the company. Citigroup reiterated a “neutral” rating on shares of PHINIA in a research report on Tuesday, October 14th. Wall Street Zen raised PHINIA from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 10th. Zacks Research raised shares of PHINIA from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 31st. Northland Securities upped their price objective on shares of PHINIA from $65.00 to $79.00 and gave the stock an “outperform” rating in a report on Tuesday, December 30th. Finally, UBS Group lifted their target price on shares of PHINIA from $59.00 to $71.00 and gave the company a “neutral” rating in a research note on Wednesday, January 14th.

PHINIA Stock Up 0.7%

NYSE PHIN opened at $74.75 on Wednesday. PHINIA has a 1 year low of $36.25 and a 1 year high of $75.19. The stock has a market capitalization of $2.87 billion, a PE ratio of 33.67 and a beta of 1.37. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.72 and a quick ratio of 1.25. The business’s 50-day moving average is $64.97 and its 200 day moving average is $58.50.

PHINIA Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Friday, March 6th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Friday, March 6th. This is a positive change from PHINIA’s previous quarterly dividend of $0.27. PHINIA’s payout ratio is presently 48.65%.

Insider Buying and Selling

In other PHINIA news, VP Samantha Pombier sold 1,940 shares of the company’s stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $54.14, for a total transaction of $105,031.60. Following the transaction, the vice president owned 8,869 shares in the company, valued at approximately $480,167.66. This represents a 17.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Hongyong Yang sold 893 shares of the firm’s stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $52.43, for a total value of $46,819.99. The disclosure for this sale is available in the SEC filing. 2.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. ProShare Advisors LLC boosted its position in shares of PHINIA by 1.9% during the fourth quarter. ProShare Advisors LLC now owns 7,409 shares of the company’s stock valued at $464,000 after buying an additional 141 shares during the last quarter. Acorn Financial Advisory Services Inc. ADV lifted its stake in PHINIA by 2.7% during the 4th quarter. Acorn Financial Advisory Services Inc. ADV now owns 5,816 shares of the company’s stock valued at $365,000 after acquiring an additional 155 shares during the period. Envestnet Asset Management Inc. boosted its holdings in shares of PHINIA by 2.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 9,913 shares of the company’s stock valued at $441,000 after acquiring an additional 212 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of PHINIA by 34.4% in the third quarter. EverSource Wealth Advisors LLC now owns 868 shares of the company’s stock worth $50,000 after acquiring an additional 222 shares during the period. Finally, Old North State Wealth Management LLC raised its holdings in shares of PHINIA by 2.5% during the fourth quarter. Old North State Wealth Management LLC now owns 10,253 shares of the company’s stock valued at $643,000 after purchasing an additional 250 shares during the last quarter. Institutional investors 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.