PHINIA (NYSE:PHIN) Earns Buy Rating from Analysts at Bank of America

Bank of America started coverage on shares of PHINIA (NYSE:PHIN - Free Report) in a research note published on Thursday, Marketbeat Ratings reports. The firm issued a buy rating and a $53.00 price objective on the stock.

Other equities research analysts also recently issued research reports about the stock. Northland Capmk upgraded shares of PHINIA to a "strong-buy" rating in a research note on Thursday, January 30th. CL King started coverage on PHINIA in a report on Monday, March 24th. They set a "buy" rating and a $54.00 price objective on the stock. Northland Securities started coverage on PHINIA in a research report on Thursday, January 30th. They set an "outperform" rating and a $61.00 target price for the company. Finally, UBS Group boosted their price target on PHINIA from $55.00 to $57.00 and gave the company a "buy" rating in a research note on Thursday, January 16th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $52.60.

PHINIA Stock Performance

PHINIA stock traded up $0.22 during mid-day trading on Thursday, reaching $38.88. The company had a trading volume of 122,686 shares, compared to its average volume of 575,247. 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 firm has a market cap of $1.55 billion, a price-to-earnings ratio of 22.22 and a beta of 1.56. The company has a 50 day moving average of $45.12 and a 200-day moving average of $47.97. PHINIA has a 52 week low of $36.10 and a 52 week high of $57.23.

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PHINIA (NYSE:PHIN - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The company reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.09). PHINIA had a net margin of 2.32% and a return on equity of 10.12%. The firm had revenue of $833.00 million for the quarter, compared to the consensus estimate of $811.94 million. On average, sell-side analysts expect that PHINIA will post 4.21 EPS for the current fiscal year.

PHINIA Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a $0.27 dividend. The ex-dividend date was Friday, February 28th. This is a positive change from PHINIA's previous quarterly dividend of $0.25. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.78%. PHINIA's dividend payout ratio (DPR) is 61.71%.

Institutional Investors Weigh In On PHINIA

A number of hedge funds have recently added to or reduced their stakes in PHIN. Millennium Management LLC lifted its position in shares of PHINIA by 28.3% during the fourth 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 in the last quarter. First Trust Advisors LP lifted its stake 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 period. Voss Capital LP increased its position in PHINIA by 31.8% in the fourth quarter. Voss Capital LP now owns 1,417,081 shares of the company's stock worth $68,261,000 after purchasing an additional 342,081 shares during the period. Dimensional Fund Advisors LP raised its holdings in PHINIA by 14.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,048,051 shares of the company's stock worth $98,653,000 after purchasing an additional 253,345 shares during the last quarter. Finally, Brandywine Global Investment Management LLC acquired a new position in PHINIA during the 4th quarter valued at about $6,874,000. 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.