PHINIA (NYSE:PHIN) Now Covered by Northland Securities

Northland Securities started coverage on shares of PHINIA (NYSE:PHIN) in a report published on Thursday, MarketBeat reports. The brokerage issued an outperform rating and a $61.00 price objective on the stock.

Separately, UBS Group upped their target price on PHINIA from $55.00 to $57.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th.

PHINIA Stock Down 1.4 %

PHINIA stock opened at $50.91 on Thursday. PHINIA has a twelve month low of $29.42 and a twelve month high of $57.23. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.46 and a current ratio of 1.93. The firm has a market cap of $2.14 billion, a PE ratio of 21.85 and a beta of 1.35. The firm’s 50 day moving average price is $50.85 and its two-hundred day moving average price is $48.12.

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

PHINIA Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Monday, November 25th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.96%. The ex-dividend date was Monday, November 25th. PHINIA’s payout ratio is 42.92%.

Institutional Trading of PHINIA

A number of institutional investors and hedge funds have recently modified their holdings of PHIN. Segall Bryant & Hamill LLC bought a new stake in PHINIA during the third quarter valued at about $1,073,000. Royce & Associates LP bought a new position in PHINIA in the 3rd quarter worth approximately $695,000. Swedbank AB lifted its holdings in shares of PHINIA by 161.2% during the third quarter. Swedbank AB now owns 66,752 shares of the company’s stock worth $3,073,000 after buying an additional 41,200 shares during the last quarter. Foundry Partners LLC bought a new stake in shares of PHINIA in the third quarter valued at approximately $7,911,000. Finally, MetLife Investment Management LLC grew its stake in shares of PHINIA by 115.3% in the third quarter. MetLife Investment Management LLC now owns 24,790 shares of the company’s stock worth $1,141,000 after acquiring an additional 13,277 shares during the last quarter. 90.94% of the stock is currently owned by institutional investors and hedge funds.

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.