PHINIA (NYSE:PHIN) Downgraded by Morgan Stanley

Morgan Stanley lowered shares of PHINIA (NYSE:PHIN) from an overweight rating to an equal weight rating in a research note released on Wednesday, MarketBeat Ratings reports. They currently have $50.00 target price on the stock.

Separately, UBS Group assumed coverage on PHINIA in a research note on Wednesday, September 4th. They issued a buy rating and a $55.00 price target on the stock.

PHINIA Stock Up 0.4 %

Shares of PHIN opened at $47.01 on Wednesday. The company has a current ratio of 1.85, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47. The firm has a market cap of $2.15 billion, a P/E ratio of 9.67 and a beta of 0.86. The stock’s 50 day moving average is $45.81 and its two-hundred day moving average is $42.53. PHINIA has a 12 month low of $23.46 and a 12 month high of $52.19.

PHINIA (NYSE:PHIN) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $0.88 earnings per share for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.27). The company had revenue of $868.00 million for the quarter, compared to analyst estimates of $889.00 million. PHINIA had a return on equity of 8.04% and a net margin of 2.48%. The business’s revenue was down 2.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.61 earnings per share. Analysts predict that PHINIA will post 3.37 earnings per share for the current fiscal year.

PHINIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 23rd were paid a dividend of $0.25 per share. The ex-dividend date was Friday, August 23rd. This represents a $1.00 annualized dividend and a yield of 2.13%. PHINIA’s dividend payout ratio is presently 20.58%.

Insiders Place Their Bets

In other news, VP Michael Coetzee sold 900 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $47.71, for a total value of $42,939.00. Following the completion of the sale, the vice president now directly owns 29,540 shares in the company, valued at $1,409,353.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.50% of the company’s stock.

Institutional Trading of PHINIA

Several hedge funds have recently made changes to their positions in PHIN. Fidelis Capital Partners LLC acquired a new position in PHINIA in the first quarter valued at approximately $37,000. GAMMA Investing LLC lifted its holdings in PHINIA by 100.4% in the second quarter. GAMMA Investing LLC now owns 1,132 shares of the company’s stock valued at $45,000 after acquiring an additional 567 shares during the last quarter. Quarry LP acquired a new position in PHINIA in the fourth quarter valued at approximately $37,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in PHINIA in the second quarter valued at approximately $49,000. Finally, Cape Investment Advisory Inc. acquired a new position in shares of PHINIA in the 4th quarter worth approximately $39,000. Hedge funds and other 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.