PHINIA (NYSE:PHIN) Rating Lowered to Equal Weight at Morgan Stanley

PHINIA (NYSE:PHIN) was downgraded by investment analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a research note issued to investors on Wednesday, MarketBeat reports. They presently have a $50.00 target price on the stock. Morgan Stanley’s price objective suggests a potential upside of 6.72% from the company’s previous close.

Separately, UBS Group started coverage on shares of PHINIA in a report on Wednesday, September 4th. They issued a “buy” rating and a $55.00 price target for the company.

PHINIA Stock Up 0.4 %

Shares of PHINIA stock opened at $46.85 on Wednesday. PHINIA has a one year low of $23.46 and a one year high of $52.19. The company has a market cap of $2.14 billion, a P/E ratio of 9.64 and a beta of 0.86. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.85. The firm has a fifty day moving average of $45.77 and a two-hundred day moving average of $42.45.

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

Insiders Place Their Bets

In other news, VP Michael Coetzee sold 900 shares of the firm’s stock in a transaction 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 transaction, the vice president now owns 29,540 shares in the company, valued at $1,409,353.40. The sale was disclosed in a document filed with the SEC, which is available at this link. 1.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On PHINIA

Several hedge funds have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. grew its position in shares of PHINIA by 4.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 337,218 shares of the company’s stock valued at $10,214,000 after purchasing an additional 14,289 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in PHINIA by 8.3% during the 4th quarter. Janney Montgomery Scott LLC now owns 26,497 shares of the company’s stock valued at $803,000 after buying an additional 2,026 shares during the last quarter. Norges Bank purchased a new position in PHINIA during the fourth quarter worth $16,896,000. US Bancorp DE raised its holdings in shares of PHINIA by 17.5% in the fourth quarter. US Bancorp DE now owns 21,360 shares of the company’s stock worth $647,000 after acquiring an additional 3,184 shares during the last quarter. Finally, Commerce Bank purchased a new stake in shares of PHINIA in the fourth quarter valued at $394,000. 90.94% of the stock is currently owned by hedge funds and other institutional investors.

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.