PHINIA Inc. (NYSE:PHIN) Given Average Rating of “Moderate Buy” by Brokerages

Shares of PHINIA Inc. (NYSE:PHIN) have earned an average recommendation of “Moderate Buy” from the six brokerages that are covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $52.60.

Several research analysts recently commented on PHIN shares. Northland Capmk upgraded shares of PHINIA to a “strong-buy” rating in a report on Thursday, January 30th. Bank of America started coverage on shares of PHINIA in a report on Thursday, April 10th. They issued a “buy” rating and a $53.00 price target on the stock. Northland Securities assumed coverage on PHINIA in a report on Thursday, January 30th. They issued an “outperform” rating and a $61.00 target price for the company. CL King initiated coverage on shares of PHINIA in a report on Monday, March 24th. They set a “buy” rating and a $54.00 price target for the company. Finally, UBS Group reissued a “neutral” rating and issued a $45.00 price objective (down previously from $56.00) on shares of PHINIA in a research note on Thursday, April 10th.

PHINIA Price Performance

Shares of NYSE:PHIN opened at $38.65 on Thursday. The firm has a market cap of $1.54 billion, a price-to-earnings ratio of 22.09 and a beta of 1.56. The company has a current ratio of 1.90, a quick ratio of 1.44 and a debt-to-equity ratio of 0.61. PHINIA has a 1 year low of $36.10 and a 1 year high of $57.23. The business has a fifty day simple moving average of $45.12 and a 200 day simple moving average of $47.97.

PHINIA (NYSE:PHIN) last released its quarterly earnings data on Thursday, February 13th. The company reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.09). The business had revenue of $833.00 million during the quarter, compared to analyst estimates of $811.94 million. PHINIA had a net margin of 2.32% and a return on equity of 10.12%. As a group, sell-side analysts predict that PHINIA will post 4.21 earnings per share for the current fiscal year.

PHINIA Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 2.79%. The ex-dividend date of this dividend was Friday, February 28th. This is a boost from PHINIA’s previous quarterly dividend of $0.25. PHINIA’s dividend payout ratio is 61.71%.

Hedge Funds Weigh In On PHINIA

A number of large investors have recently added to or reduced their stakes in PHIN. Smartleaf Asset Management LLC boosted its position in PHINIA by 149.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 698 shares of the company’s stock worth $33,000 after acquiring an additional 418 shares during the last quarter. KBC Group NV boosted its holdings in shares of PHINIA by 45.8% during the fourth quarter. KBC Group NV now owns 2,180 shares of the company’s stock worth $105,000 after acquiring an additional 685 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in PHINIA in the 4th quarter valued at $144,000. AlphaQuest LLC bought a new position in PHINIA during the fourth quarter worth about $173,000. Finally, State of Michigan Retirement System acquired a new stake in shares of PHINIA in the fourth quarter valued at approximately $203,000. Institutional investors own 90.94% of the company’s stock.

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.