UBS Group Issues Positive Forecast for PHINIA (NYSE:PHIN) Stock Price

PHINIA (NYSE:PHIN) had its target price lifted by investment analysts at UBS Group from $55.00 to $57.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. UBS Group’s price target suggests a potential upside of 11.32% from the stock’s current price.

Separately, Morgan Stanley lowered PHINIA from an “overweight” rating to an “equal weight” rating and set a $50.00 target price for the company. in a research report on Wednesday, September 25th.

PHINIA Trading Down 1.5 %

Shares of PHIN stock traded down $0.78 during trading hours on Thursday, reaching $51.20. The company’s stock had a trading volume of 211,189 shares, compared to its average volume of 379,009. The company has a current ratio of 1.93, a quick ratio of 1.46 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $2.15 billion, a P/E ratio of 21.97 and a beta of 1.35. The firm’s fifty day simple moving average is $51.30 and its 200 day simple moving average is $47.31. PHINIA has a one year low of $27.86 and a one year high of $57.23.

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. The business had revenue of $839.00 million during the quarter, compared to analyst estimates of $829.82 million. PHINIA had a net margin of 3.10% and a return on equity of 9.79%. The company’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.53 EPS. Equities research analysts expect that PHINIA will post 3.44 EPS for the current year.

Institutional Investors Weigh In On PHINIA

Hedge funds and other institutional investors have recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of PHINIA in the 2nd quarter worth approximately $49,000. GAMMA Investing LLC boosted its holdings in PHINIA by 23.9% in the third quarter. GAMMA Investing LLC now owns 1,403 shares of the company’s stock worth $65,000 after acquiring an additional 271 shares in the last quarter. KBC Group NV grew its stake in shares of PHINIA by 49.4% in the third quarter. KBC Group NV now owns 1,495 shares of the company’s stock worth $69,000 after acquiring an additional 494 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of PHINIA by 4,502.9% during the third quarter. International Assets Investment Management LLC now owns 3,222 shares of the company’s stock valued at $148,000 after acquiring an additional 3,152 shares in the last quarter. Finally, Creative Planning purchased a new position in shares of PHINIA in the 3rd quarter worth about $203,000. Hedge funds and other institutional investors 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.