PHINIA (NYSE:PHIN) Stock Bumped Down to Hold by Wall Street Zen

Wall Street Zen cut shares of PHINIA (NYSE:PHIN) from a buy rating to a hold rating in a report released on Saturday morning,Wall Street Zen reports.

PHIN has been the topic of several other reports. KeyCorp initiated coverage on shares of PHINIA in a research note on Friday, June 12th. They issued an “overweight” rating and a $105.00 target price on the stock. Zacks Research raised shares of PHINIA from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 29th. UBS Group lowered their price objective on shares of PHINIA from $80.00 to $68.00 and set a “neutral” rating for the company in a research note on Wednesday. Northland Securities set a $98.00 target price on shares of PHINIA in a report on Friday, July 31st. Finally, Weiss Ratings downgraded PHINIA from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, September 16th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $83.50.

PHINIA Stock Performance

NYSE PHIN opened at $57.70 on Friday. The company has a 50-day simple moving average of $67.11 and a two-hundred day simple moving average of $73.07. The company has a quick ratio of 1.34, a current ratio of 1.81 and a debt-to-equity ratio of 0.63. PHINIA has a 12-month low of $50.79 and a 12-month high of $86.93. The firm has a market cap of $2.11 billion, a price-to-earnings ratio of 16.53 and a beta of 1.19.

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

PHINIA Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 18th. Shareholders of record on Friday, September 4th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Friday, September 4th. PHINIA’s dividend payout ratio (DPR) is currently 34.38%.

Insider Transactions at PHINIA

In other news, SVP Robert Boyle sold 7,500 shares of the stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $62.12, for a total transaction of $465,900.00. Following the sale, the senior vice president owned 25,317 shares in the company, valued at $1,572,692.04. This represents a 22.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Brady Ericson sold 27,860 shares of the business’s stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $68.39, for a total transaction of $1,905,345.40. Following the completion of the transaction, the chief executive officer owned 330,497 shares of the company’s stock, valued at approximately $22,602,689.83. The trade was a 7.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 55,270 shares of company stock valued at $3,698,592. 2.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of PHIN. Lodge Hill Capital LLC increased its position in shares of PHINIA by 450.8% during the 1st quarter. Lodge Hill Capital LLC now owns 2,381,150 shares of the company’s stock valued at $162,966,000 after purchasing an additional 1,948,820 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of PHINIA by 1.5% in the first quarter. Dimensional Fund Advisors LP now owns 2,336,499 shares of the company’s stock worth $159,901,000 after buying an additional 34,503 shares during the last quarter. Voss Capital LP grew its position in PHINIA by 2.8% during the fourth quarter. Voss Capital LP now owns 1,727,468 shares of the company’s stock valued at $108,295,000 after buying an additional 47,468 shares during the period. Prevatt Capital Ltd grew its position in PHINIA by 18.8% during the first quarter. Prevatt Capital Ltd now owns 380,000 shares of the company’s stock valued at $26,007,000 after buying an additional 60,000 shares during the period. Finally, Wellington Management Group LLP increased its holdings in PHINIA by 1.5% during the second quarter. Wellington Management Group LLP now owns 298,734 shares of the company’s stock valued at $24,607,000 after buying an additional 4,274 shares during the last quarter. Hedge funds and other institutional investors own 90.94% of the company’s stock.

About PHINIA

PHINIA Inc (NYSE: PHIN) is a global automotive technology company that develops and manufactures fuel systems, electrical systems and electrification components for commercial vehicles, passenger vehicles and other mobility applications. The company serves original equipment manufacturers as well as the automotive aftermarket.

PHINIA’s products include gasoline and diesel fuel-injection systems, fuel pumps and modules, injectors, ignition coils, glow plugs, alternators and starters. Its electrification portfolio includes components such as high-voltage systems, battery-related technologies and power-conversion products designed to support hybrid and electric vehicles.

The company also supplies replacement parts and service solutions through its aftermarket business, including products marketed under the Delphi brand.