PHINIA (NYSE:PHIN) Upgraded at Northland Capmk

Northland Capmk upgraded shares of PHINIA (NYSE:PHIN) to a strong-buy rating in a research note released on Thursday,Zacks.com reports.

A number of other analysts have also commented on the company. UBS Group boosted their price target on PHINIA from $55.00 to $57.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Northland Securities initiated coverage on PHINIA in a research report on Thursday. They set an “outperform” rating and a $61.00 price target for the company.

PHINIA Stock Performance

Shares of NYSE:PHIN opened at $50.91 on Thursday. The business has a 50-day moving average price of $50.85 and a two-hundred day moving average price of $48.12. PHINIA has a 1-year low of $29.42 and a 1-year high of $57.23. The stock has a market capitalization of $2.14 billion, a P/E ratio of 21.85 and a beta of 1.35. The company has a current ratio of 1.93, a quick ratio of 1.46 and a debt-to-equity ratio of 0.58.

PHINIA (NYSE:PHIN) last issued its quarterly earnings data on Thursday, October 31st. The company reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.38. The firm had revenue of $839.00 million during 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 revenue for the quarter was down 6.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.53 earnings per share. Equities analysts predict that PHINIA will post 3.44 earnings per share for the current year.

PHINIA Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Monday, November 25th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend was Monday, November 25th. PHINIA’s payout ratio is 42.92%.

Institutional Investors Weigh In On PHINIA

Several hedge funds have recently modified their holdings of PHIN. Pacer Advisors Inc. bought a new position in PHINIA during the 3rd quarter worth $80,154,000. Empowered Funds LLC bought a new position in PHINIA during the 3rd quarter worth approximately $10,504,000. Foundry Partners LLC acquired a new position in shares of PHINIA in the 3rd quarter worth approximately $7,911,000. Jacobs Levy Equity Management Inc. boosted its stake in shares of PHINIA by 10.4% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,016,602 shares of the company’s stock valued at $46,794,000 after purchasing an additional 95,870 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in PHINIA by 334.4% during the third quarter. Assenagon Asset Management S.A. now owns 123,571 shares of the company’s stock worth $5,688,000 after buying an additional 95,123 shares during the last quarter. Institutional investors and hedge funds own 90.94% of the company’s stock.

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.