PHINIA Inc. (NYSE:PHIN) Stock Has Average Target Price of $90.67

PHINIA Inc. (NYSE:PHIN) has been assigned a consensus rating of “Moderate Buy” from the six research firms that are currently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $90.67.

Several equities research analysts recently commented on the company. Weiss Ratings cut PHINIA from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, September 16th. Zacks Research raised PHINIA from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 29th. UBS Group increased their price target on PHINIA from $68.00 to $69.00 and gave the stock a “neutral” rating in a report on Friday, October 30th. Northland Securities set a $98.00 price target on PHINIA in a report on Friday, July 31st. Finally, Wall Street Zen upgraded shares of PHINIA from a “hold” rating to a “buy” rating in a research note on Saturday, November 7th.

Insider Transactions at PHINIA

In other news, SVP Robert Boyle sold 7,500 shares of the company’s stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $62.12, for a total transaction of $465,900.00. Following the transaction, the senior vice president owned 25,317 shares in the company, valued at approximately $1,572,692.04. This represents a 22.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Todd Anderson sold 3,056 shares of the stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $66.41, for a total transaction of $202,948.96. Following the transaction, the vice president directly owned 26,736 shares in the company, valued at $1,775,537.76. This trade represents a 10.26% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 55,270 shares of company stock valued at $3,698,592. 2.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in PHIN. Baron Wealth Management LLC grew its stake in PHINIA by 3.7% in the second quarter. Baron Wealth Management LLC now owns 4,542 shares of the company’s stock valued at $374,000 after acquiring an additional 160 shares during the period. Ritholtz Wealth Management raised its position in shares of PHINIA by 0.8% during the third quarter. Ritholtz Wealth Management now owns 20,513 shares of the company’s stock worth $1,219,000 after purchasing an additional 165 shares during the period. Knights of Columbus Asset Advisors LLC raised its position in shares of PHINIA by 0.5% during the third quarter. Knights of Columbus Asset Advisors LLC now owns 38,148 shares of the company’s stock worth $2,267,000 after purchasing an additional 180 shares during the period. Signaturefd LLC raised 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 worth $61,000 after purchasing an additional 233 shares during the period. Finally, Teachers Retirement System of The State of Kentucky lifted its holdings in shares of PHINIA by 3.8% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 9,640 shares of the company’s stock worth $659,000 after purchasing an additional 350 shares in the last quarter. Institutional investors own 90.94% of the company’s stock.

PHINIA Stock Performance

NYSE:PHIN opened at $72.44 on Friday. The stock has a market cap of $2.61 billion, a P/E ratio of 14.61 and a beta of 1.16. The company has a current ratio of 1.70, a quick ratio of 1.28 and a debt-to-equity ratio of 0.64. The stock’s 50-day moving average is $62.27 and its 200-day moving average is $71.38. PHINIA has a 1-year low of $51.38 and a 1-year high of $86.93.

PHINIA (NYSE:PHIN) last issued its quarterly earnings results on Thursday, October 29th. The company reported $1.83 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.15. The company had revenue of $912.00 million during the quarter, compared to analysts’ expectations of $928.21 million. PHINIA had a return on equity of 14.32% and a net margin of 5.22%. Equities research analysts anticipate that PHINIA will post 6.10 earnings per share for the current year.

PHINIA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 11th. Shareholders of record on Monday, November 23rd will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Monday, November 23rd. PHINIA’s payout ratio is 24.19%.

About PHINIA

PHINIA Inc. develops and manufactures fuel systems and aftermarket products for the global automotive and commercial vehicle industries. Its products include fuel injection and fuel delivery systems, ignition components, and related technologies for vehicles with internal combustion engines. The company also supplies replacement parts and services to the automotive aftermarket, including products under the Delphi brand. Its customers include vehicle and engine manufacturers as well as distributors and repair businesses.