Northland Securities Initiates Coverage on PHINIA (NYSE:PHIN)

Equities researchers at Northland Securities initiated coverage on shares of PHINIA (NYSE:PHIN) in a report issued on Thursday, Marketbeat.com reports. The brokerage set an “outperform” rating and a $61.00 price target on the stock. Northland Securities’ target price suggests a potential upside of 19.83% from the company’s current price.

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

PHINIA Stock Performance

PHIN stock opened at $50.91 on Thursday. The stock has a market capitalization of $2.14 billion, a PE ratio of 21.85 and a beta of 1.35. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.93 and a quick ratio of 1.46. The company has a 50 day moving average price of $50.85 and a 200 day moving average price of $48.11. PHINIA has a fifty-two week low of $29.42 and a fifty-two week high of $57.23.

PHINIA (NYSE:PHIN) last released its 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 company had revenue of $839.00 million during the quarter, compared to the consensus estimate of $829.82 million. PHINIA had a return on equity of 9.79% and a net margin of 3.10%. The firm’s quarterly revenue was down 6.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.53 earnings per share. Analysts forecast that PHINIA will post 3.44 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Principal Financial Group Inc. grew its stake in PHINIA by 0.4% in the fourth quarter. Principal Financial Group Inc. now owns 228,584 shares of the company’s stock valued at $11,011,000 after acquiring an additional 842 shares during the period. Empowered Funds LLC grew its position in shares of PHINIA by 5.1% in the 4th quarter. Empowered Funds LLC now owns 239,821 shares of the company’s stock valued at $11,552,000 after purchasing an additional 11,625 shares during the period. Vest Financial LLC raised its holdings in PHINIA by 79.2% during the 4th quarter. Vest Financial LLC now owns 52,757 shares of the company’s stock worth $2,541,000 after buying an additional 23,310 shares during the period. KBC Group NV raised its holdings in PHINIA by 45.8% during the 4th quarter. KBC Group NV now owns 2,180 shares of the company’s stock worth $105,000 after buying an additional 685 shares during the period. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in PHINIA by 30,454.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 13,444 shares of the company’s stock valued at $648,000 after buying an additional 13,400 shares in the last quarter. Institutional investors and hedge funds 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.