PHINIA (NYSE:PHIN) Given New $57.00 Price Target at UBS Group

PHINIA (NYSE:PHIN) had its price objective raised by UBS Group from $55.00 to $57.00 in a research report released on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Separately, Morgan Stanley downgraded PHINIA from an “overweight” rating to an “equal weight” rating and set a $50.00 target price on the stock. in a research report on Wednesday, September 25th.

PHINIA Stock Down 1.4 %

Shares of PHIN opened at $51.24 on Thursday. The stock has a market capitalization of $2.16 billion, a price-to-earnings ratio of 21.99 and a beta of 1.35. PHINIA has a 1 year low of $27.86 and a 1 year high of $57.23. The business’s 50 day simple moving average is $51.30 and its 200-day simple moving average is $47.33. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.93 and a quick ratio of 1.46.

PHINIA (NYSE:PHIN) last released its earnings results on Thursday, October 31st. The company reported $1.17 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.38. The firm had revenue of $839.00 million for the quarter, compared to the consensus estimate of $829.82 million. PHINIA had a return on equity of 9.79% and a net margin of 3.10%. The company’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.53 EPS. As a group, equities analysts expect that PHINIA will post 3.44 earnings per share for the current fiscal year.

PHINIA Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, November 25th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.95%. The ex-dividend date of this dividend was Monday, November 25th. PHINIA’s dividend payout ratio is currently 42.92%.

Hedge Funds Weigh In On PHINIA

Several hedge funds have recently bought and sold shares of the business. MassMutual Private Wealth & Trust FSB grew its position in PHINIA by 30,454.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 13,444 shares of the company’s stock valued at $648,000 after acquiring an additional 13,400 shares during the last quarter. Ritholtz Wealth Management grew its position in PHINIA by 50.8% in the 4th quarter. Ritholtz Wealth Management now owns 28,046 shares of the company’s stock valued at $1,351,000 after acquiring an additional 9,442 shares during the last quarter. CWA Asset Management Group LLC grew its position in PHINIA by 23.5% in the 4th quarter. CWA Asset Management Group LLC now owns 20,797 shares of the company’s stock valued at $1,002,000 after acquiring an additional 3,954 shares during the last quarter. Principal Financial Group Inc. grew its position in PHINIA by 1.1% in the 3rd quarter. Principal Financial Group Inc. now owns 227,742 shares of the company’s stock valued at $10,483,000 after acquiring an additional 2,422 shares during the last quarter. Finally, Tidal Investments LLC bought a new position in PHINIA in the 3rd quarter valued at $527,000. Institutional investors own 90.94% of the company’s stock.

PHINIA Company Profile

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.