PHINIA (NYSE:PHIN) Upgraded at KeyCorp

PHINIA (NYSE:PHIN) was upgraded by equities researchers at KeyCorp to a “strong-buy” rating in a research note issued on Thursday,Zacks.com reports.

Other analysts have also issued research reports about the company. Zacks Research upgraded PHINIA from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. Weiss Ratings raised PHINIA from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, June 4th. Wall Street Zen raised shares of PHINIA from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 2nd. Northland Securities set a $93.00 price target on shares of PHINIA in a research report on Friday, February 13th. Finally, UBS Group reissued a “neutral” rating and set a $76.00 price objective on shares of PHINIA in a report on Friday, February 13th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, PHINIA presently has an average rating of “Moderate Buy” and an average price target of $74.83.

PHINIA Stock Up 4.2%

NYSE:PHIN opened at $85.25 on Thursday. The company has a market cap of $3.16 billion, a price-to-earnings ratio of 23.81 and a beta of 1.16. PHINIA has a twelve month low of $41.59 and a twelve month high of $86.65. The company has a current ratio of 1.82, a quick ratio of 1.32 and a debt-to-equity ratio of 0.62. The stock has a fifty day simple moving average of $75.39 and a 200-day simple moving average of $69.40.

PHINIA (NYSE:PHIN) last posted its quarterly earnings results on Thursday, April 30th. The company reported $1.29 EPS for the quarter, topping the consensus estimate of $1.13 by $0.16. The company had revenue of $878.00 million for the quarter, compared to the consensus estimate of $838.67 million. PHINIA had a net margin of 3.96% and a return on equity of 13.23%. The firm’s revenue was up 10.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.94 EPS. Analysts anticipate that PHINIA will post 6.36 EPS for the current year.

Insider Transactions at PHINIA

In other news, VP Michael Coetzee sold 1,250 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $80.61, for a total value of $100,762.50. Following the completion of the sale, the vice president directly owned 27,009 shares in the company, valued at $2,177,195.49. The trade was a 4.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Samantha Pombier sold 2,227 shares of the company’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 value of $183,415.72. Following the transaction, the vice president directly owned 6,637 shares of the company’s stock, valued at approximately $546,623.32. The trade was a 25.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On PHINIA

A number of large investors have recently added to or reduced their stakes in PHIN. ProShare Advisors LLC grew its position in shares of PHINIA by 1.9% in the fourth quarter. ProShare Advisors LLC now owns 7,409 shares of the company’s stock valued at $464,000 after purchasing an additional 141 shares during the period. Acorn Financial Advisory Services Inc. ADV lifted its stake in PHINIA by 2.7% in the 4th quarter. Acorn Financial Advisory Services Inc. ADV now owns 5,816 shares of the company’s stock valued at $365,000 after buying an additional 155 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in PHINIA by 2.4% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 8,748 shares of the company’s stock worth $548,000 after buying an additional 207 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in PHINIA by 34.4% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 868 shares of the company’s stock worth $50,000 after buying an additional 222 shares in the last quarter. Finally, Old North State Wealth Management LLC lifted its position in shares of PHINIA by 2.5% in the fourth quarter. Old North State Wealth Management LLC now owns 10,253 shares of the company’s stock valued at $643,000 after acquiring an additional 250 shares in the last quarter. 90.94% of the stock is currently owned by institutional investors and hedge funds.

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.