CL King Begins Coverage on PHINIA (NYSE:PHIN)

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

Several other equities analysts have also weighed in on PHIN. UBS Group raised their price objective on shares of PHINIA from $55.00 to $57.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Northland Securities began coverage on PHINIA in a research note on Thursday, January 30th. They issued an “outperform” rating and a $61.00 price objective on the stock. Finally, Northland Capmk upgraded PHINIA to a “strong-buy” rating in a report on Thursday, January 30th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $55.50.

PHINIA Trading Up 0.9 %

PHINIA stock opened at $45.81 on Monday. PHINIA has a 12 month low of $36.10 and a 12 month high of $57.23. The company has a quick ratio of 1.44, a current ratio of 1.90 and a debt-to-equity ratio of 0.61. The stock has a market cap of $1.87 billion, a P/E ratio of 26.18 and a beta of 1.38. The company’s fifty day simple moving average is $48.23 and its 200-day simple moving average is $48.71.

PHINIA (NYSE:PHIN) last issued its earnings results on Thursday, February 13th. The company reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.09). PHINIA had a net margin of 2.32% and a return on equity of 10.12%. The firm had revenue of $833.00 million during the quarter, compared to analysts’ expectations of $811.94 million. As a group, sell-side analysts forecast that PHINIA will post 4.21 EPS for the current fiscal year.

PHINIA Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 2.36%. This is a boost from PHINIA’s previous quarterly dividend of $0.25. The ex-dividend date was Friday, February 28th. PHINIA’s dividend payout ratio is 61.71%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC grew its stake in shares of PHINIA by 149.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 698 shares of the company’s stock worth $33,000 after acquiring an additional 418 shares during the last quarter. KBC Group NV boosted its holdings in PHINIA by 45.8% in the 4th quarter. KBC Group NV now owns 2,180 shares of the company’s stock valued at $105,000 after purchasing an additional 685 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in PHINIA in the 4th quarter worth $144,000. AlphaQuest LLC bought a new position in shares of PHINIA during the 4th quarter worth about $173,000. Finally, State of Michigan Retirement System bought a new position in shares of PHINIA during the 4th quarter worth about $203,000. 90.94% of the stock is owned by institutional investors.

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.