PHINIA (NYSE:PHIN) Hits New 52-Week High – What’s Next?

PHINIA Inc. (NYSE:PHIN)’s share price reached a new 52-week high on Thursday . The stock 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.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PHIN. UBS Group assumed coverage on shares of PHINIA in a research report on Wednesday, September 4th. They set a “buy” rating and a $55.00 price target on the stock. 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 Trading Up 2.2 %

The company has a market cap of $2.19 billion, a PE ratio of 22.35 and a beta of 0.86. The company’s 50 day simple moving average is $46.55 and its two-hundred day simple moving average is $44.25. 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 issued its quarterly earnings data on Thursday, October 31st. The company reported $1.17 EPS for the quarter, topping the consensus estimate of $0.79 by $0.38. PHINIA had a net margin of 3.10% and a return on equity of 9.79%. The firm had revenue of $839.00 million for the quarter, compared to analyst estimates of $829.82 million. During the same period in the prior year, the business posted $0.53 EPS. The business’s revenue for the quarter was down 6.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that PHINIA Inc. will post 3.27 EPS for the current fiscal year.

Insider Transactions at PHINIA

In other PHINIA news, VP Michael Coetzee sold 900 shares of the business’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $47.71, for a total transaction of $42,939.00. Following the sale, the vice president now directly owns 29,540 shares in the company, valued at $1,409,353.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On PHINIA

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Jacobs Levy Equity Management Inc. raised its stake in shares of PHINIA by 3,027.2% in the first quarter. Jacobs Levy Equity Management Inc. now owns 438,180 shares of the company’s stock valued at $16,839,000 after acquiring an additional 424,168 shares in the last quarter. Great Lakes Advisors LLC raised its position in PHINIA by 1,537.3% in the 2nd quarter. Great Lakes Advisors LLC now owns 338,616 shares of the company’s stock valued at $13,328,000 after purchasing an additional 317,935 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of PHINIA by 33.2% in the 2nd quarter. American Century Companies Inc. now owns 1,009,106 shares of the company’s stock valued at $39,718,000 after buying an additional 251,650 shares during the period. Empowered Funds LLC acquired a new position in shares of PHINIA during the third quarter worth about $10,504,000. Finally, Dimensional Fund Advisors LP grew its position in shares of PHINIA by 19.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,317,846 shares of the company’s stock worth $51,869,000 after buying an additional 215,150 shares in the last quarter. 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.