PHINIA (NYSE:PHIN) Upgraded to “Strong-Buy” at Northland Capmk

PHINIA (NYSE:PHIN) was upgraded by investment analysts at Northland Capmk to a “strong-buy” rating in a research note issued on Thursday,Zacks.com reports.

A number of other research firms have also issued reports on PHIN. Northland Securities started coverage on PHINIA in a research note on Thursday. They set an “outperform” rating and a $61.00 price objective on the stock. UBS Group boosted their price objective on PHINIA from $55.00 to $57.00 and gave the company a “buy” rating in a research note on Thursday, January 16th.

PHINIA Stock Performance

Shares of PHIN opened at $50.91 on Thursday. The firm has a market cap of $2.14 billion, a PE ratio of 21.85 and a beta of 1.35. The stock’s fifty day moving average price is $50.85 and its two-hundred day moving average price is $48.11. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.93 and a quick ratio of 1.46. PHINIA has a 1 year low of $29.42 and a 1 year high of $57.23.

PHINIA (NYSE:PHIN) last issued its earnings results on Thursday, October 31st. The company reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.38. The firm had revenue of $839.00 million for the quarter, compared to analyst estimates of $829.82 million. PHINIA had a return on equity of 9.79% and a net margin of 3.10%. The business’s revenue was down 6.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.53 earnings per share. On average, equities research analysts forecast that PHINIA will post 3.44 EPS for the current year.

Hedge Funds Weigh In On PHINIA

A number of hedge funds and other institutional investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company raised its position in PHINIA by 290.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 25,745 shares of the company’s stock valued at $1,013,000 after purchasing an additional 19,152 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of PHINIA in the 2nd quarter worth approximately $2,003,000. Sanctuary Advisors LLC purchased a new stake in PHINIA during the 2nd quarter valued at $503,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in PHINIA during the 2nd quarter valued at $49,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in PHINIA during the 2nd quarter valued at $1,547,000. 90.94% of the stock is currently 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.