PHINIA (NYSE:PHIN) Downgraded by Morgan Stanley to Equal Weight

Morgan Stanley downgraded shares of PHINIA (NYSE:PHIN) from an overweight rating to an equal weight rating in a research report report published on Wednesday morning, MarketBeat Ratings reports. Morgan Stanley currently has $50.00 price target on the stock.

Separately, UBS Group assumed coverage on shares of PHINIA in a research note on Wednesday, September 4th. They issued a buy rating and a $55.00 price target for the company.

PHINIA Stock Up 0.3 %

PHIN stock opened at $46.99 on Wednesday. PHINIA has a twelve month low of $23.46 and a twelve month high of $52.19. The company has a current ratio of 1.85, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $2.05 billion, a P/E ratio of 15.84 and a beta of 0.86. The firm has a 50 day simple moving average of $45.81 and a 200-day simple moving average of $42.57.

PHINIA (NYSE:PHIN) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $0.88 earnings per share for the quarter, missing the consensus estimate of $1.15 by ($0.27). The firm had revenue of $868.00 million during the quarter, compared to the consensus estimate of $889.00 million. PHINIA had a net margin of 2.48% and a return on equity of 8.04%. The firm’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.61 earnings per share. On average, equities research analysts predict that PHINIA will post 3.37 earnings per share for the current fiscal year.

PHINIA Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 23rd were issued a dividend of $0.25 per share. The ex-dividend date was Friday, August 23rd. This represents a $1.00 annualized dividend and a dividend yield of 2.13%.

Insider Transactions at PHINIA

In other PHINIA news, VP Michael Coetzee sold 900 shares of PHINIA stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $47.71, for a total value of $42,939.00. Following the completion of the sale, the vice president now directly owns 29,540 shares in the company, valued at $1,409,353.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On PHINIA

A number of large investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. lifted its position in shares of PHINIA by 4.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 337,218 shares of the company’s stock worth $10,214,000 after purchasing an additional 14,289 shares during the last quarter. Janney Montgomery Scott LLC raised its position in shares of PHINIA by 8.3% during the fourth quarter. Janney Montgomery Scott LLC now owns 26,497 shares of the company’s stock valued at $803,000 after buying an additional 2,026 shares during the last quarter. Norges Bank bought a new stake in shares of PHINIA in the fourth quarter valued at about $16,896,000. US Bancorp DE lifted its position in shares of PHINIA by 17.5% in the 4th quarter. US Bancorp DE now owns 21,360 shares of the company’s stock worth $647,000 after acquiring an additional 3,184 shares during the period. Finally, Commerce Bank bought a new stake in shares of PHINIA during the fourth quarter valued at approximately $394,000. 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.