PHINIA (NYSE:PHIN) Sets New 12-Month High – Here’s Why

PHINIA Inc. (NYSE:PHIN)’s stock price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $86.12 and last traded at $85.5570, with a volume of 28954 shares changing hands. The stock had previously closed at $81.81.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Wall Street Zen raised shares of PHINIA from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 2nd. Freedom Capital downgraded shares of PHINIA from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 26th. UBS Group reaffirmed a “neutral” rating and issued a $76.00 price objective on shares of PHINIA in a research report on Friday, February 13th. Zacks Research raised shares of PHINIA from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 13th. Finally, Weiss Ratings raised shares of PHINIA from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $74.83.

PHINIA Price Performance

The company has a debt-to-equity ratio of 0.62, a current ratio of 1.82 and a quick ratio of 1.32. The company’s 50-day simple moving average is $75.08 and its 200-day simple moving average is $69.29. The company has a market cap of $3.15 billion, a price-to-earnings ratio of 23.82 and a beta of 1.16.

PHINIA (NYSE:PHIN) last released its earnings results on Thursday, April 30th. The company reported $1.29 EPS for the quarter, beating the consensus estimate of $1.13 by $0.16. The company had revenue of $878.00 million during the quarter, compared to analysts’ expectations of $838.67 million. PHINIA had a return on equity of 13.23% and a net margin of 3.96%.The business’s revenue was up 10.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.94 EPS. On average, equities research analysts anticipate that PHINIA Inc. will post 6.36 EPS for the current year.

PHINIA Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 23rd. Stockholders of record on Tuesday, June 9th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Tuesday, June 9th. PHINIA’s dividend payout ratio is 33.52%.

Hedge Funds Weigh In On PHINIA

Several institutional investors and hedge funds have recently made changes to their positions in the business. ProShare Advisors LLC boosted its stake in shares of PHINIA by 1.9% during the 4th 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 boosted its stake in shares of 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 buying an additional 155 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in shares of PHINIA by 2.4% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 8,748 shares of the company’s stock valued at $548,000 after buying an additional 207 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in PHINIA by 34.4% during the third quarter. EverSource Wealth Advisors LLC now owns 868 shares of the company’s stock worth $50,000 after purchasing an additional 222 shares during the last quarter. Finally, Old North State Wealth Management LLC lifted its stake in PHINIA by 2.5% during the fourth quarter. Old North State Wealth Management LLC now owns 10,253 shares of the company’s stock worth $643,000 after purchasing an additional 250 shares during the last quarter. 90.94% of the stock is currently owned by hedge funds and other institutional investors.

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. 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.