PHINIA (NYSE:PHIN) Research Coverage Started at CL King

CL King started coverage on shares of PHINIA (NYSE:PHIN) in a research note issued to investors on Monday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $54.00 target price on the stock.

Other equities research analysts also recently issued reports about the stock. Northland Securities initiated coverage on shares of PHINIA in a report on Thursday, January 30th. They issued an “outperform” rating and a $61.00 price target for the company. Northland Capmk raised shares of PHINIA to a “strong-buy” rating in a research note on Thursday, January 30th. Finally, UBS Group lifted their price target on shares of PHINIA from $55.00 to $57.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $55.50.

PHINIA Trading Up 0.9 %

PHINIA stock opened at $45.81 on Monday. PHINIA has a 12-month low of $36.10 and a 12-month high of $57.23. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.90 and a quick ratio of 1.44. The stock has a market capitalization of $1.87 billion, a PE ratio of 26.18 and a beta of 1.38. The firm has a 50 day simple moving average of $48.23 and a 200-day simple moving average of $48.71.

PHINIA (NYSE:PHIN) last issued its quarterly earnings results on Thursday, February 13th. The company reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.09). PHINIA had a net margin of 2.32% and a return on equity of 10.12%. The firm had revenue of $833.00 million for the quarter, compared to the consensus estimate of $811.94 million. As a group, equities research analysts expect that PHINIA will post 4.21 EPS for the current fiscal year.

PHINIA Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, February 28th. This is a positive change from PHINIA’s previous quarterly dividend of $0.25. This represents a $1.08 dividend on an annualized basis and a yield of 2.36%. PHINIA’s dividend payout ratio is currently 61.71%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Millennium Management LLC boosted its stake in PHINIA by 28.3% in the 4th quarter. Millennium Management LLC now owns 2,424,949 shares of the company’s stock worth $116,810,000 after purchasing an additional 535,222 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of PHINIA by 14.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,048,051 shares of the company’s stock worth $98,653,000 after buying an additional 253,345 shares during the period. First Trust Advisors LP boosted its position in shares of PHINIA by 32.6% in the fourth quarter. First Trust Advisors LP now owns 1,866,894 shares of the company’s stock worth $89,928,000 after buying an additional 458,650 shares during the period. Voss Capital LP grew its holdings in shares of PHINIA by 31.8% during the fourth quarter. Voss Capital LP now owns 1,417,081 shares of the company’s stock valued at $68,261,000 after buying an additional 342,081 shares in the last quarter. Finally, American Century Companies Inc. raised its position in PHINIA by 8.5% during the fourth quarter. American Century Companies Inc. now owns 1,414,155 shares of the company’s stock valued at $68,120,000 after buying an additional 110,931 shares during the period. 90.94% of the stock is owned by hedge funds and other institutional investors.

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.