PHINIA (NYSE:PHIN) Hits New 12-Month High – Here’s What Happened

PHINIA Inc. (NYSE:PHIN)’s stock price reached a new 52-week high during trading on Thursday . The company traded as high as $52.75 and last traded at $52.61, with a volume of 52872 shares trading hands. The stock had previously closed at $51.32.

Analyst Ratings Changes

A number of research firms have commented on PHIN. 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. UBS Group began coverage on PHINIA in a research report on Wednesday, September 4th. They issued a “buy” rating and a $55.00 target price on the stock.

PHINIA Price Performance

The company has a 50 day moving average of $46.41 and a 200 day moving average of $44.11. The stock has a market capitalization of $2.14 billion, a price-to-earnings ratio of 22.03 and a beta of 0.86. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.46 and a current ratio of 1.93.

PHINIA (NYSE:PHIN) last released its quarterly earnings data on Thursday, October 31st. The company reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.38. The business had revenue of $839.00 million during the quarter, compared to analysts’ expectations of $829.82 million. PHINIA had a return on equity of 9.79% and a net margin of 3.10%. The business’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.53 EPS. As a group, equities research analysts anticipate that PHINIA Inc. will post 3.27 EPS for the current year.

Insider Transactions at PHINIA

In other news, VP Michael Coetzee sold 900 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $1,409,353.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.50% of the company’s stock.

Institutional Trading of PHINIA

Hedge funds have recently added to or reduced their stakes in the stock. Fidelis Capital Partners LLC acquired a new stake in shares of PHINIA in the 1st quarter valued at approximately $37,000. GAMMA Investing LLC lifted its holdings in shares of PHINIA by 100.4% in the 2nd quarter. GAMMA Investing LLC now owns 1,132 shares of the company’s stock valued at $45,000 after buying an additional 567 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of PHINIA in the 2nd quarter valued at approximately $49,000. EntryPoint Capital LLC acquired a new stake in shares of PHINIA in the 1st quarter valued at approximately $60,000. Finally, Central Pacific Bank Trust Division acquired a new stake in shares of PHINIA in the 1st quarter valued at approximately $63,000. 90.94% of the stock is owned by institutional investors and hedge funds.

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.