PHINIA (NYSE:PHIN) Lowered to “Hold” Rating by Wall Street Zen

Wall Street Zen downgraded shares of PHINIA (NYSE:PHIN) from a buy rating to a hold rating in a report released on Sunday.

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

PHINIA Stock Up 0.2%

Shares of NYSE PHIN opened at $75.07 on Friday. The company has a 50 day simple moving average of $79.46 and a 200 day simple moving average of $74.60. The firm has a market cap of $2.75 billion, a PE ratio of 21.51 and a beta of 1.17. PHINIA has a 1 year low of $50.79 and a 1 year high of $86.93. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.81 and a quick ratio of 1.34.

PHINIA (NYSE:PHIN) last posted its earnings results on Thursday, July 30th. The company reported $1.53 EPS for the quarter, missing the consensus estimate of $1.57 by ($0.04). PHINIA had a return on equity of 13.86% and a net margin of 3.73%.The business had revenue of $940.00 million for the quarter, compared to analyst estimates of $918.83 million. On average, research analysts forecast that PHINIA will post 6.18 EPS for the current year.

PHINIA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Friday, September 4th. PHINIA’s dividend payout ratio (DPR) is currently 34.38%.

Insiders Place Their Bets

In related news, VP Samantha Pombier sold 2,227 shares of the business’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $82.36, for a total value of $183,415.72. Following the transaction, the vice president owned 6,637 shares in the company, valued at $546,623.32. The trade was a 25.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Michael Coetzee sold 1,250 shares of the company’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $80.61, for a total transaction of $100,762.50. Following the sale, the vice president directly owned 27,009 shares in the company, valued at $2,177,195.49. This trade represents a 4.42% decrease in their position. The SEC filing for this sale provides additional information. 2.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On PHINIA

Institutional investors and hedge funds have recently made changes to their positions in the business. Larson Financial Group LLC grew its stake in PHINIA by 151.5% during the fourth quarter. Larson Financial Group LLC now owns 425 shares of the company’s stock worth $27,000 after purchasing an additional 256 shares during the period. Federation des caisses Desjardins du Quebec lifted its stake 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 valued at $49,000 after buying an additional 750 shares during the period. State of Wyoming acquired a new position in PHINIA in the second quarter valued at approximately $60,000. Hantz Financial Services Inc. boosted its holdings in shares of PHINIA by 76.7% during the 4th quarter. Hantz Financial Services Inc. now owns 979 shares of the company’s stock worth $61,000 after buying an additional 425 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of PHINIA by 49.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,132 shares of the company’s stock worth $77,000 after buying an additional 376 shares in 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.