PHINIA (NYSE:PHIN) Reaches New 1-Year High – Time to Buy?

PHINIA Inc. (NYSE:PHIN)’s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $53.97 and last traded at $53.86, with a volume of 13340 shares changing hands. The stock had previously closed at $52.74.

Analysts Set New Price Targets

PHIN has been the subject of a number of recent research reports. Morgan Stanley downgraded shares of PHINIA from an “overweight” rating to an “equal weight” rating and set a $50.00 price objective for the company. in a report on Wednesday, September 25th. UBS Group assumed coverage on shares of PHINIA in a report on Wednesday, September 4th. They issued a “buy” rating and a $55.00 target price on the stock.

PHINIA Trading Up 1.6 %

The firm has a 50 day moving average price of $47.68 and a two-hundred day moving average price of $45.07. The company has a market cap of $2.32 billion, a price-to-earnings ratio of 23.63 and a beta of 0.86. The company has a quick ratio of 1.46, a current ratio of 1.93 and a debt-to-equity ratio of 0.58.

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

PHINIA Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, November 25th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date of this dividend is Monday, November 25th. PHINIA’s payout ratio is currently 42.92%.

Insider Activity at PHINIA

In related news, VP Michael Coetzee sold 900 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $47.71, for a total transaction of $42,939.00. Following the sale, the vice president now directly owns 29,540 shares in the company, valued at approximately $1,409,353.40. This represents a 2.96 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.50% of the stock is currently owned by insiders.

Institutional Trading of PHINIA

A number of hedge funds and other institutional investors have recently bought and sold shares of PHIN. GAMMA Investing LLC increased its holdings in shares of PHINIA by 23.9% in the 3rd quarter. GAMMA Investing LLC now owns 1,403 shares of the company’s stock worth $65,000 after buying an additional 271 shares during the last quarter. Quantinno Capital Management LP lifted its holdings in PHINIA by 2.4% in the 3rd quarter. Quantinno Capital Management LP now owns 14,637 shares of the company’s stock worth $674,000 after buying an additional 345 shares during the period. Old North State Wealth Management LLC boosted its stake in shares of PHINIA by 4.9% during the 3rd quarter. Old North State Wealth Management LLC now owns 9,589 shares of the company’s stock valued at $442,000 after purchasing an additional 451 shares in the last quarter. KBC Group NV lifted its stake in shares of PHINIA by 49.4% in the 3rd quarter. KBC Group NV now owns 1,495 shares of the company’s stock valued at $69,000 after purchasing an additional 494 shares during the period. Finally, CHICAGO TRUST Co NA boosted its position in shares of PHINIA by 8.1% during the third quarter. CHICAGO TRUST Co NA now owns 9,539 shares of the company’s stock valued at $439,000 after purchasing an additional 713 shares in the last quarter. Institutional investors own 90.94% of the company’s stock.

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.