PHINIA (NYSE:PHIN) Sets New 12-Month High – Here’s Why
by Sarita Garza · The Markets DailyPHINIA Inc. (NYSE:PHIN – Get Free Report)’s share price reached a new 52-week high during trading on Friday . The stock traded as high as $86.12 and last traded at $85.5570, with a volume of 28954 shares traded. The stock had previously closed at $81.81.
Analyst Upgrades and Downgrades
Several equities research analysts recently commented on the stock. Zacks Research upgraded shares of PHINIA from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 13th. UBS Group restated a “neutral” rating and issued a $76.00 target price on shares of PHINIA in a report on Friday, February 13th. Wall Street Zen upgraded shares of PHINIA from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 2nd. Freedom Capital lowered shares of PHINIA from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 26th. Finally, Northland Securities set a $93.00 target price on shares of PHINIA in a report on Friday, February 13th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $74.83.
Get Our Latest Analysis on PHIN
PHINIA Stock Performance
The firm has a market capitalization of $3.15 billion, a PE ratio of 23.82 and a beta of 1.16. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.32 and a current ratio of 1.82. The company’s fifty day moving average price is $75.08 and its two-hundred day moving average price is $69.29.
PHINIA (NYSE:PHIN – Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The company reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.16. The business had revenue of $878.00 million for the quarter, compared to analyst estimates of $838.67 million. PHINIA had a net margin of 3.96% and a return on equity of 13.23%. The company’s revenue was up 10.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.94 EPS. As a group, equities analysts expect that PHINIA Inc. will post 6.36 earnings per share for the current year.
PHINIA Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 23rd. Investors of record on Tuesday, June 9th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, June 9th. PHINIA’s dividend payout ratio is 33.52%.
Institutional Trading of PHINIA
A number of institutional investors and hedge funds have recently bought and sold shares of PHIN. Royal Bank of Canada increased its position in PHINIA by 464.8% during the 1st quarter. Royal Bank of Canada now owns 75,745 shares of the company’s stock worth $3,214,000 after purchasing an additional 62,333 shares in the last quarter. AQR Capital Management LLC increased its position in PHINIA by 62.3% during the 1st quarter. AQR Capital Management LLC now owns 22,343 shares of the company’s stock worth $938,000 after purchasing an additional 8,576 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in PHINIA by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,891 shares of the company’s stock worth $1,056,000 after purchasing an additional 1,093 shares in the last quarter. Goldman Sachs Group Inc. increased its position in PHINIA by 6.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 977,177 shares of the company’s stock worth $41,462,000 after purchasing an additional 58,875 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in PHINIA by 7.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 94,270 shares of the company’s stock worth $4,000,000 after purchasing an additional 6,478 shares in 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. The Fuel Systems segment provides advanced fuel injection systems, including pumps, injectors, fuel rail assemblies, and engine control modules; fuel delivery modules; canisters; sensors; and electronic control modules.