PHINIA (NYSE:PHIN) Receives "Neutral" Rating from UBS Group

UBS Group reaffirmed their neutral rating on shares of PHINIA (NYSE:PHIN - Free Report) in a report published on Thursday morning, Marketbeat reports. The firm currently has a $45.00 price objective on the stock, down from their previous price objective of $56.00.

A number of other research firms have also weighed in on PHIN. Northland Capmk raised shares of PHINIA to a "strong-buy" rating in a research report on Thursday, January 30th. CL King initiated coverage on PHINIA in a research report on Monday, March 24th. They issued a "buy" rating and a $54.00 price objective for the company. Bank of America started coverage on PHINIA in a report on Thursday, April 10th. They issued a "buy" rating and a $53.00 price target for the company. Finally, Northland Securities initiated coverage on PHINIA in a report on Thursday, January 30th. They set an "outperform" rating and a $61.00 price objective for the company. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $52.60.

PHINIA Price Performance

Shares of PHIN stock traded up $0.22 during mid-day trading on Thursday, reaching $38.88. The stock had a trading volume of 122,686 shares, compared to its average volume of 575,247. The company has a market cap of $1.55 billion, a P/E ratio of 22.22 and a beta of 1.56. The company has a current ratio of 1.90, a quick ratio of 1.44 and a debt-to-equity ratio of 0.61. PHINIA has a 12-month low of $36.10 and a 12-month high of $57.23. The business has a 50-day simple moving average of $45.12 and a 200 day simple moving average of $47.97.

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

PHINIA Increases Dividend

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

Institutional Investors Weigh In On PHINIA

A number of institutional investors have recently added to or reduced their stakes in PHIN. Millennium Management LLC raised its holdings in 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 buying an additional 535,222 shares during the period. First Trust Advisors LP grew its position in 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 purchasing an additional 458,650 shares in the last quarter. Voss Capital LP increased its stake in PHINIA by 31.8% in the 4th quarter. Voss Capital LP now owns 1,417,081 shares of the company's stock valued at $68,261,000 after buying an additional 342,081 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of PHINIA by 14.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,048,051 shares of the company's stock valued at $98,653,000 after acquiring an additional 253,345 shares in the last quarter. Finally, Brandywine Global Investment Management LLC acquired a new position in shares of PHINIA in the fourth quarter worth $6,874,000. 90.94% of the stock is currently owned by institutional investors and hedge funds.

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.