PHINIA (NYSE:PHIN) Coverage Initiated by Analysts at Bank of America

Bank of America began coverage on shares of PHINIA (NYSE:PHIN) in a research report issued on Thursday, Marketbeat.com reports. The firm set a “buy” rating and a $53.00 price target on the stock. Bank of America‘s target price points to a potential upside of 38.11% from the stock’s previous close.

A number of other research analysts have also weighed in on PHIN. Northland Securities started coverage on PHINIA in a report on Thursday, January 30th. They issued an “outperform” rating and a $61.00 price objective on the stock. Northland Capmk raised shares of PHINIA to a “strong-buy” rating in a research note on Thursday, January 30th. CL King assumed coverage on shares of PHINIA in a research report on Monday, March 24th. They set a “buy” rating and a $54.00 price target on the stock. Finally, UBS Group increased their price objective on shares of PHINIA from $55.00 to $57.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $52.60.

PHINIA Stock Up 1.0 %

Shares of NYSE PHIN opened at $38.38 on Thursday. PHINIA has a 52-week low of $36.10 and a 52-week high of $57.23. The company has a quick ratio of 1.44, a current ratio of 1.90 and a debt-to-equity ratio of 0.61. The company’s 50-day simple moving average is $45.37 and its 200-day simple moving average is $48.02. The firm has a market cap of $1.57 billion, a price-to-earnings ratio of 21.93 and a beta of 1.56.

PHINIA (NYSE:PHIN) last posted its quarterly earnings data on Thursday, February 13th. The company reported $0.71 EPS for the quarter, missing the consensus estimate of $0.80 by ($0.09). PHINIA had a return on equity of 10.12% and a net margin of 2.32%. The firm had revenue of $833.00 million for the quarter, compared to analysts’ expectations of $811.94 million. Equities analysts predict that PHINIA will post 4.21 EPS for the current fiscal year.

Hedge Funds Weigh In On PHINIA

Several institutional investors and hedge funds have recently bought and sold shares of PHIN. Millennium Management LLC grew its holdings in shares of PHINIA by 28.3% during 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 stake in PHINIA by 14.1% during 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 increased its position in shares of PHINIA by 32.6% during the fourth quarter. First Trust Advisors LP now owns 1,866,894 shares of the company’s stock valued at $89,928,000 after acquiring an additional 458,650 shares during the last quarter. Voss Capital LP increased its position 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 acquiring an additional 342,081 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in shares of PHINIA by 8.5% in the 4th quarter. American Century Companies Inc. now owns 1,414,155 shares of the company’s stock valued at $68,120,000 after acquiring an additional 110,931 shares during the period. 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.