PHINIA (NYSE:PHIN) Research Coverage Started at Northland Securities

Northland Securities assumed coverage on shares of PHINIA (NYSE:PHIN) in a report published on Thursday morning, MarketBeat Ratings reports. The brokerage issued an outperform rating and a $61.00 price target on the stock.

Separately, UBS Group upped their target price on PHINIA from $55.00 to $57.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th.

PHINIA Stock Performance

PHIN stock opened at $50.91 on Thursday. The company 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 quick ratio of 1.46, a current ratio of 1.93 and a debt-to-equity ratio of 0.58. The company has a 50-day simple moving average of $50.85 and a 200 day simple moving average of $48.12. PHINIA has a fifty-two week low of $29.42 and a fifty-two week high of $57.23.

PHINIA (NYSE:PHIN) last issued 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. PHINIA had a net margin of 3.10% and a return on equity of 9.79%. The company had revenue of $839.00 million during the quarter, compared to analyst estimates of $829.82 million. During the same period in the prior year, the business posted $0.53 EPS. The business’s revenue for the quarter was down 6.4% compared to the same quarter last year. Sell-side analysts predict that PHINIA will post 3.44 earnings per share for the current fiscal year.

PHINIA Announces Dividend

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of PHINIA during the second quarter worth $49,000. GAMMA Investing LLC increased its stake in PHINIA by 23.9% in the 3rd quarter. GAMMA Investing LLC now owns 1,403 shares of the company’s stock worth $65,000 after purchasing an additional 271 shares in the last quarter. KBC Group NV raised its holdings in PHINIA by 49.4% during the 3rd quarter. KBC Group NV now owns 1,495 shares of the company’s stock worth $69,000 after buying an additional 494 shares during the period. International Assets Investment Management LLC lifted its stake in PHINIA by 4,502.9% during the third quarter. International Assets Investment Management LLC now owns 3,222 shares of the company’s stock valued at $148,000 after buying an additional 3,152 shares in the last quarter. Finally, Creative Planning acquired a new position in shares of PHINIA in the third quarter worth about $203,000. Institutional investors 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.