PHINIA’s (PHIN) Neutral Rating Reiterated at UBS Group

UBS Group reaffirmed their neutral rating on shares of PHINIA (NYSE:PHIN) in a research report sent to investors on Thursday morning, MarketBeat reports. UBS Group currently has a $45.00 price objective on the stock, down from their previous price objective of $56.00.

Other analysts also recently issued reports about the company. CL King initiated coverage on PHINIA in a report on Monday, March 24th. They issued a “buy” rating and a $54.00 target price for the company. Northland Capmk upgraded PHINIA to a “strong-buy” rating in a research note on Thursday, January 30th. Northland Securities assumed coverage on shares of PHINIA in a research report on Thursday, January 30th. They set an “outperform” rating and a $61.00 target price on the stock. Finally, Bank of America started coverage on shares of PHINIA in a report on Thursday. They issued a “buy” rating and a $53.00 target price on the stock. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, PHINIA presently has an average rating of “Moderate Buy” and an average price target of $52.60.

PHINIA Stock Performance

Shares of PHINIA stock opened at $38.38 on Thursday. The company has a quick ratio of 1.44, a current ratio of 1.90 and a debt-to-equity ratio of 0.61. PHINIA has a 52 week low of $36.10 and a 52 week high of $57.23. The firm’s 50 day moving average is $45.37 and its two-hundred day moving average is $48.02. The firm has a market capitalization of $1.53 billion, a P/E ratio of 21.93 and a beta of 1.56.

PHINIA (NYSE:PHIN) last posted its earnings results on Thursday, February 13th. The company reported $0.71 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 company had revenue of $833.00 million during the quarter, compared to analysts’ expectations of $811.94 million. Research analysts forecast that PHINIA will post 4.21 EPS for the current fiscal year.

PHINIA Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a $0.27 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.81%. This is a positive change from PHINIA’s previous quarterly dividend of $0.25. PHINIA’s payout ratio is presently 61.71%.

Hedge Funds Weigh In On PHINIA

A number of hedge funds and other institutional investors have recently bought and sold shares of PHIN. Commerce Bank boosted its holdings in shares of PHINIA by 1.7% in the fourth quarter. Commerce Bank now owns 13,696 shares of the company’s stock valued at $660,000 after acquiring an additional 231 shares in the last quarter. Mariner LLC boosted its holdings in PHINIA by 1.3% in the 4th quarter. Mariner LLC now owns 19,739 shares of the company’s stock valued at $951,000 after purchasing an additional 245 shares in the last quarter. Quantinno Capital Management LP increased its position in PHINIA by 2.4% during the 3rd quarter. Quantinno Capital Management LP now owns 14,637 shares of the company’s stock worth $674,000 after purchasing an additional 345 shares during the period. Envestnet Asset Management Inc. raised its stake in shares of PHINIA by 5.7% during the 4th quarter. Envestnet Asset Management Inc. now owns 6,870 shares of the company’s stock worth $331,000 after buying an additional 373 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of PHINIA by 149.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 698 shares of the company’s stock valued at $33,000 after buying an additional 418 shares during the period. 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.