PHINIA (NYSE:PHIN) Now Covered by CL King

CL King initiated coverage on shares of PHINIA (NYSE:PHIN - Free Report) in a research report released on Monday, Marketbeat Ratings reports. The firm issued a buy rating and a $54.00 price target on the stock.

PHIN has been the subject of a number of other research reports. Northland Securities assumed coverage on shares of PHINIA in a research note on Thursday, January 30th. They issued an "outperform" rating and a $61.00 price target for the company. UBS Group raised their target price on shares of PHINIA from $55.00 to $57.00 and gave the company a "buy" rating in a research note on Thursday, January 16th. Finally, Northland Capmk raised PHINIA to a "strong-buy" rating in a research report on Thursday, January 30th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, PHINIA presently has an average rating of "Buy" and a consensus target price of $55.50.

PHINIA Stock Down 2.6 %

Shares of PHIN stock opened at $43.11 on Monday. The firm's fifty day moving average price is $47.92 and its two-hundred day moving average price is $48.65. 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 1 year low of $36.10 and a 1 year high of $57.23. The firm has a market capitalization of $1.76 billion, a P/E ratio of 24.64 and a beta of 1.38.

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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 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 company had revenue of $833.00 million for the quarter, compared to analyst estimates of $811.94 million. On average, equities analysts predict that PHINIA will post 4.21 EPS for the current fiscal year.

PHINIA Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date of this dividend was Friday, February 28th. This is a boost from PHINIA's previous quarterly dividend of $0.25. PHINIA's payout ratio is currently 61.71%.

Institutional Trading of PHINIA

Several institutional investors have recently added to or reduced their stakes in PHIN. Smartleaf Asset Management LLC boosted its position in shares of PHINIA by 149.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 698 shares of the company's stock valued at $33,000 after acquiring an additional 418 shares during the period. KBC Group NV boosted its holdings in PHINIA by 45.8% in the 4th quarter. KBC Group NV now owns 2,180 shares of the company's stock valued at $105,000 after purchasing an additional 685 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of PHINIA during the 4th quarter worth approximately $144,000. AlphaQuest LLC bought a new position in shares of PHINIA during the fourth quarter worth approximately $173,000. Finally, State of Michigan Retirement System acquired a new stake in shares of PHINIA in the fourth quarter valued at approximately $203,000. 90.94% of the stock is currently owned by institutional investors.

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.