PHINIA (NYSE:PHIN) Price Target Lowered to $46.00 at Morgan Stanley

by · The Cerbat Gem

PHINIA (NYSE:PHIN – Free Report) had its target price decreased by Morgan Stanley from $50.00 to $46.00 in a report published on Monday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

PHIN has been the subject of a number of other research reports. CL King began coverage on shares of PHINIA in a research note on Monday, March 24th. They set a “buy” rating and a $54.00 price target for the company. BNP Paribas cut shares of PHINIA from an “outperform” rating to a “neutral” rating and set a $46.00 price target for the company. in a research note on Wednesday, April 23rd. Northland Securities assumed coverage on shares of PHINIA in a research note on Thursday, January 30th. They set an “outperform” rating and a $61.00 price target for the company. Northland Capmk raised shares of PHINIA to a “strong-buy” rating in a report on Thursday, January 30th. Finally, Bank of America raised their price objective on shares of PHINIA from $53.00 to $55.00 and gave the stock a “buy” rating in a report on Thursday, May 15th. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, PHINIA presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.17.

Read Our Latest Stock Analysis on PHIN

PHINIA Stock Down 3.4%

Shares of PHIN opened at $42.53 on Monday. The stock has a market cap of $1.69 billion, a price-to-earnings ratio of 24.30 and a beta of 1.59. The company has a quick ratio of 1.44, a current ratio of 1.90 and a debt-to-equity ratio of 0.61. PHINIA has a 12 month low of $36.25 and a 12 month high of $57.23. The company has a 50-day moving average price of $41.95 and a two-hundred day moving average price of $47.33.

PHINIA (NYSE:PHIN – Get Free Report) last announced its quarterly earnings results on Friday, April 25th. The company reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.10). The business had revenue of $796.00 million for the quarter, compared to the consensus estimate of $813.24 million. PHINIA had a return on equity of 10.12% and a net margin of 2.32%. The firm’s revenue for the quarter was down 7.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.08 EPS. Equities analysts predict that PHINIA will post 4.21 EPS for the current fiscal year.

Insider Transactions at PHINIA

In related news, CEO Brady D. Ericson purchased 10,000 shares of the stock in a transaction that occurred on Wednesday, April 30th. The stock was acquired at an average price of $39.73 per share, with a total value of $397,300.00. Following the completion of the acquisition, the chief executive officer now directly owns 436,486 shares in the company, valued at approximately $17,341,588.78. This trade represents a 2.34% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.00% of the company’s stock.

Institutional Trading of PHINIA

Hedge funds and other institutional investors have recently modified their holdings of the stock. Smartleaf Asset Management LLC increased its holdings 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 purchasing an additional 418 shares in the last quarter. CX Institutional acquired a new stake in shares of PHINIA in the first quarter valued at approximately $31,000. Brooklyn Investment Group increased its holdings in shares of PHINIA by 853.0% in the first quarter. Brooklyn Investment Group now owns 1,582 shares of the company’s stock valued at $67,000 after purchasing an additional 1,416 shares in the last quarter. KBC Group NV increased its holdings in shares of PHINIA by 45.8% in the fourth quarter. KBC Group NV now owns 2,180 shares of the company’s stock valued at $105,000 after purchasing an additional 685 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of PHINIA in the fourth quarter valued at approximately $144,000. Institutional investors and hedge funds own 90.94% of the company’s stock.

PHINIA Company Profile

(Get Free Report)

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.

Read More