UBS Group Forecasts Strong Price Appreciation for PHINIA (NYSE:PHIN) Stock

PHINIA (NYSE:PHIN) had its target price hoisted by UBS Group from $55.00 to $57.00 in a research report report published on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

Separately, Morgan Stanley cut shares of PHINIA from an “overweight” rating to an “equal weight” rating and set a $50.00 price target on the stock. in a research report on Wednesday, September 25th.

PHINIA Trading Up 0.5 %

Shares of NYSE PHIN opened at $51.49 on Thursday. The company’s fifty day moving average is $51.29 and its 200-day moving average is $47.47. The stock has a market cap of $2.17 billion, a price-to-earnings ratio of 22.10 and a beta of 1.35. PHINIA has a twelve month low of $27.86 and a twelve month high of $57.23. 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 (NYSE:PHIN) last announced its quarterly 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 for the quarter, compared to analysts’ expectations of $829.82 million. PHINIA had a net margin of 3.10% and a return on equity of 9.79%. The business’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same period last year, the firm posted $0.53 earnings per share. Equities research analysts predict that PHINIA will post 3.44 EPS for the current year.

PHINIA Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, November 25th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, November 25th. This represents a $1.00 annualized dividend and a yield of 1.94%. PHINIA’s dividend payout ratio is currently 42.92%.

Institutional Investors Weigh In On PHINIA

Institutional investors have recently added to or reduced their stakes in the stock. Segall Bryant & Hamill LLC bought a new stake in PHINIA in the 3rd quarter valued at $1,073,000. Royce & Associates LP bought a new stake in PHINIA in the 3rd quarter valued at $695,000. Swedbank AB increased its stake in PHINIA by 161.2% in the 3rd quarter. Swedbank AB now owns 66,752 shares of the company’s stock valued at $3,073,000 after buying an additional 41,200 shares during the last quarter. Foundry Partners LLC acquired a new stake in PHINIA in the 3rd quarter valued at $7,911,000. Finally, Dimensional Fund Advisors LP increased its stake in PHINIA by 19.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,317,846 shares of the company’s stock valued at $51,869,000 after buying an additional 215,150 shares during the last quarter. 90.94% of the stock is 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.