PHINIA (NYSE:PHIN) Price Target Raised to $57.00

PHINIA (NYSE:PHIN - Get Free Report) had its price objective lifted by investment analysts at UBS Group from $55.00 to $57.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. UBS Group's price target would suggest a potential upside of 11.32% from the company's current price.

Separately, Morgan Stanley lowered shares of PHINIA from an "overweight" rating to an "equal weight" rating and set a $50.00 target price for the company. in a research report on Wednesday, September 25th.

PHINIA Price Performance

NYSE:PHIN traded down $0.78 during mid-day trading on Thursday, hitting $51.20. 211,189 shares of the stock traded hands, compared to its average volume of 379,009. The business's 50-day moving average price is $51.30 and its 200 day moving average price is $47.31. 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 has a 12-month low of $27.86 and a 12-month high of $57.23. The company has a market cap of $2.15 billion, a PE ratio of 21.97 and a beta of 1.35.

PHINIA (NYSE:PHIN - Get Free Report) last announced 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. 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 period in the prior year, the company earned $0.53 EPS. The company's quarterly revenue was down 6.4% compared to the same quarter last year. On average, analysts expect that PHINIA will post 3.44 EPS for the current fiscal year.

Institutional Trading of PHINIA

Several hedge funds have recently added to or reduced their stakes in the business. State of New Jersey Common Pension Fund D purchased a new position in shares of PHINIA in the second quarter worth about $1,663,000. Federated Hermes Inc. increased its stake in PHINIA by 409.2% in the 2nd quarter. Federated Hermes Inc. now owns 43,545 shares of the company's stock worth $1,714,000 after purchasing an additional 34,993 shares during the period. Oppenheimer Asset Management Inc. bought a new stake in PHINIA in the second quarter valued at approximately $233,000. Dimensional Fund Advisors LP boosted its stake in shares of PHINIA by 19.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,317,846 shares of the company's stock valued at $51,869,000 after purchasing an additional 215,150 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in shares of PHINIA by 61.4% in the second quarter. Renaissance Technologies LLC now owns 61,000 shares of the company's stock worth $2,401,000 after purchasing an additional 23,200 shares during the last quarter. 90.94% of the stock is owned by institutional investors.

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.

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