PHINIA (NYSE:PHIN) Hits New 12-Month High – Should You Buy?
by Mitch Edgeman · The Markets DailyPHINIA Inc. (NYSE:PHIN – Get Free Report) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $79.67 and last traded at $79.33, with a volume of 19171 shares trading hands. The stock had previously closed at $76.91.
Wall Street Analyst Weigh In
PHIN has been the topic of a number of research analyst reports. BNP Paribas Exane raised shares of PHINIA from a “neutral” rating to an “outperform” rating and set a $63.00 price objective on the stock in a report on Monday, November 3rd. UBS Group reiterated a “neutral” rating and set a $76.00 price target on shares of PHINIA in a research note on Friday, February 13th. Northland Securities set a $93.00 price target on shares of PHINIA in a research report on Friday, February 13th. Wall Street Zen raised PHINIA from a “buy” rating to a “strong-buy” rating in a report on Sunday. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of PHINIA in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $66.33.
Read Our Latest Report on PHINIA
PHINIA Trading Down 3.9%
The company has a 50 day simple moving average of $69.34 and a 200 day simple moving average of $60.39. The company has a current ratio of 1.86, a quick ratio of 1.36 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $2.84 billion, a PE ratio of 23.05 and a beta of 1.37.
PHINIA (NYSE:PHIN – Get Free Report) last announced its earnings results on Thursday, February 12th. The company reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.17). PHINIA had a net margin of 3.73% and a return on equity of 12.56%. The company had revenue of $889.00 million during the quarter, compared to analysts’ expectations of $843.59 million. During the same quarter last year, the business posted $0.71 earnings per share. The company’s revenue for the quarter was up 6.7% compared to the same quarter last year. Analysts predict that PHINIA Inc. will post 4.21 earnings per share for the current fiscal year.
PHINIA Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Friday, March 6th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Friday, March 6th. This represents a $1.20 dividend on an annualized basis and a yield of 1.6%. This is a boost from PHINIA’s previous quarterly dividend of $0.27. PHINIA’s dividend payout ratio is presently 33.23%.
Hedge Funds Weigh In On PHINIA
A number of large investors have recently modified their holdings of PHIN. ION Fund Management Ltd acquired a new position in PHINIA during the fourth quarter worth $32,285,000. Freestone Grove Partners LP grew its stake in shares of PHINIA by 1,206.1% during the 4th quarter. Freestone Grove Partners LP now owns 557,097 shares of the company’s stock worth $34,924,000 after purchasing an additional 514,442 shares during the period. UBS Group AG increased its holdings in shares of PHINIA by 222.9% in the 3rd quarter. UBS Group AG now owns 466,053 shares of the company’s stock valued at $26,789,000 after purchasing an additional 321,708 shares in the last quarter. Voss Capital LP lifted its stake in shares of PHINIA by 10.8% in the second quarter. Voss Capital LP now owns 2,290,000 shares of the company’s stock valued at $101,882,000 after purchasing an additional 222,658 shares during the period. Finally, Teacher Retirement System of Texas boosted its holdings in PHINIA by 92.2% during the third quarter. Teacher Retirement System of Texas now owns 416,328 shares of the company’s stock worth $23,931,000 after buying an additional 199,756 shares in the last quarter. 90.94% of the stock is owned by hedge funds and other 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. 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.