PHINIA (NYSE:PHIN) Coverage Initiated at CL King

CL King started coverage on shares of PHINIA (NYSE:PHIN) in a research note published on Monday, Marketbeat.com reports. The brokerage issued a buy rating and a $54.00 price objective on the stock.

PHIN has been the topic of a number of other reports. Northland Capmk upgraded shares of PHINIA to a “strong-buy” rating in a research note on Thursday, January 30th. Northland Securities initiated coverage on shares of PHINIA in a research note on Thursday, January 30th. They issued an “outperform” rating and a $61.00 price objective for the company. Finally, UBS Group boosted their target price on shares of PHINIA from $55.00 to $57.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $55.50.

PHINIA Stock Up 1.5 %

NYSE PHIN opened at $45.16 on Monday. The business has a fifty day moving average price of $48.44 and a two-hundred day moving average price of $48.73. The stock has a market capitalization of $1.84 billion, a PE ratio of 25.81 and a beta of 1.38. PHINIA has a fifty-two week low of $36.10 and a fifty-two week high of $57.23. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.90 and a quick ratio of 1.44.

PHINIA (NYSE:PHIN) last announced its quarterly earnings data on Thursday, February 13th. The company reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.80 by ($0.09). The business had revenue of $833.00 million for the quarter, compared to the consensus estimate of $811.94 million. PHINIA had a return on equity of 10.12% and a net margin of 2.32%. Equities analysts expect that PHINIA will post 4.21 earnings per share for the current fiscal year.

PHINIA Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a dividend of $0.27 per share. This is a positive change from PHINIA’s previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a yield of 2.39%. The ex-dividend date of this dividend was Friday, February 28th. PHINIA’s dividend payout ratio (DPR) is currently 61.71%.

Institutional Investors Weigh In On PHINIA

Institutional investors and hedge funds have recently made changes to their positions in the stock. Smartleaf Asset Management LLC boosted its holdings in 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 acquiring an additional 418 shares during the last quarter. KBC Group NV lifted its position in shares of PHINIA by 45.8% in the 4th quarter. KBC Group NV now owns 2,180 shares of the company’s stock worth $105,000 after purchasing an additional 685 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of PHINIA in the 4th quarter worth approximately $144,000. AlphaQuest LLC bought a new stake in shares of PHINIA in the 4th quarter valued at $173,000. Finally, State of Michigan Retirement System acquired a new stake in shares of PHINIA during the fourth quarter worth $203,000. 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.