PHINIA (NYSE:PHIN) Stock Jumps 7.7% Following Analyst Upgrade

PHINIA Inc. (NYSE:PHIN) shares traded up 7.7% during mid-day trading on Monday after UBS Group raised their price target on the stock from $68.00 to $69.00. UBS Group currently has a neutral rating on the stock. PHINIA traded as high as $67.78 and last traded at $67.79. 69,128 shares traded hands during trading, a decline of 82% from the average session volume of 389,909 shares. The stock had previously closed at $62.92.

Other equities research analysts have also issued research reports about the stock. Zacks Research upgraded shares of PHINIA from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 29th. Weiss Ratings cut PHINIA from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, September 16th. Wall Street Zen cut shares of PHINIA from a “buy” rating to a “hold” rating in a report on Saturday, October 10th. Finally, Northland Securities set a $98.00 price objective on PHINIA in a report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.75.

Insider Buying and Selling

In related news, VP Christopher Gustanski sold 2,097 shares of the firm’s stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $66.97, for a total value of $140,436.09. Following the completion of the transaction, the vice president owned 11,301 shares of the company’s stock, valued at approximately $756,827.97. This trade represents a 15.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brady D. Ericson sold 27,860 shares of the company’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 value of $1,905,345.40. Following the sale, the chief executive officer owned 330,497 shares in the company, valued at approximately $22,602,689.83. This represents a 7.77% decrease in their position. 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. Insiders have sold 55,270 shares of company stock worth $3,698,592 over the last ninety days. Insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Nykredit A S bought a new position in shares of PHINIA in the 2nd quarter valued at $38,000. Integrated Wealth Concepts LLC acquired a new stake in PHINIA in the 2nd quarter valued at $39,000. Signaturefd LLC boosted its position in shares of PHINIA by 29.5% during the third quarter. Signaturefd LLC now owns 1,023 shares of the company’s stock valued at $61,000 after buying an additional 233 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of PHINIA by 49.7% in the first quarter. EverSource Wealth Advisors LLC now owns 1,132 shares of the company’s stock valued at $77,000 after purchasing an additional 376 shares during the last quarter. Finally, C M Bidwell & Associates Ltd. purchased a new stake in PHINIA in the 2nd quarter valued at about $84,000. Institutional investors own 90.94% of the company’s stock.

PHINIA Stock Up 7.9%

The company has a market capitalization of $2.49 billion, a PE ratio of 13.65 and a beta of 1.19. The stock has a 50-day moving average of $62.07 and a 200 day moving average of $71.32. The company has a quick ratio of 1.28, a current ratio of 1.70 and a debt-to-equity ratio of 0.64.

PHINIA (NYSE:PHIN) last posted its earnings results on Thursday, October 29th. The company reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.15. PHINIA had a net margin of 5.22% and a return on equity of 14.32%. The business had revenue of $912.00 million for the quarter, compared to analysts’ expectations of $928.21 million. Sell-side analysts anticipate that PHINIA Inc. will post 6.25 EPS for the current year.

PHINIA Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Friday, September 4th were given a dividend of $0.30 per share. The ex-dividend date was Friday, September 4th. This represents a $1.20 annualized dividend and a dividend yield of 1.8%. PHINIA’s payout ratio is currently 24.19%.

PHINIA Company Profile

PHINIA Inc (NYSE:PHIN) is a global supplier of fuel systems, electrical systems and aftermarket products for automotive, commercial vehicle and industrial applications. The company develops technologies that support the performance, efficiency and emissions management of internal-combustion engines and other propulsion systems.

Its products include fuel injectors, fuel pumps and modules, fuel-system controls, ignition components, sensors, actuators and electronic control systems. PHINIA also supplies diesel fuel systems and related technologies for commercial vehicles and off-highway equipment, as well as replacement parts, service products and solutions through its aftermarket business.

PHINIA was established as an independent public company in 2023 after being spun off from BorgWarner.