Morgan Stanley Has Lowered Expectations for PHINIA (NYSE:PHIN) Stock Price

PHINIA (NYSE:PHIN) had its price objective decreased by stock analysts at Morgan Stanley from $50.00 to $46.00 in a report released on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price target points to a potential upside of 4.77% from the stock’s current price.

A number of other analysts have also issued reports on the stock. Bank of America increased their price target on shares of PHINIA from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday. CL King initiated coverage on shares of PHINIA in a research note on Monday, March 24th. They issued a “buy” rating and a $54.00 price target on the stock. BNP Paribas cut PHINIA from an “outperform” rating to a “neutral” rating and set a $46.00 price objective for the company. in a research report on Wednesday, April 23rd. UBS Group restated a “neutral” rating and issued a $45.00 target price (down previously from $56.00) on shares of PHINIA in a research note on Thursday, April 10th. Finally, Northland Capmk raised PHINIA to a “strong-buy” rating in a research note on Thursday, January 30th. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, PHINIA has a consensus rating of “Moderate Buy” and an average price target of $51.17.

PHINIA Trading Down 0.7%

PHIN stock traded down $0.29 during mid-day trading on Monday, reaching $43.91. 90,808 shares of the stock traded hands, compared to its average volume of 592,022. PHINIA has a 52-week low of $36.25 and a 52-week high of $57.23. The stock’s fifty day moving average is $41.86 and its 200-day moving average is $47.40. The company has a market cap of $1.75 billion, a P/E ratio of 25.09 and a beta of 1.59. The company has a current ratio of 1.90, a quick ratio of 1.44 and a debt-to-equity ratio of 0.61.

PHINIA (NYSE:PHIN) last posted its quarterly earnings data on Friday, April 25th. The company reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.10). PHINIA had a return on equity of 10.12% and a net margin of 2.32%. The firm had revenue of $796.00 million during the quarter, compared to analyst estimates of $813.24 million. During the same period in the prior year, the business posted $1.08 EPS. The company’s revenue for the quarter was down 7.8% on a year-over-year basis. As a group, sell-side analysts expect that PHINIA will post 4.21 earnings per share for the current year.

Insider Activity

In related news, CEO Brady D. Ericson bought 10,000 shares of the firm’s stock in a transaction on Wednesday, April 30th. The stock was purchased at an average price of $39.73 per share, with a total value of $397,300.00. Following the completion of the transaction, the chief executive officer now directly owns 436,486 shares of the company’s stock, valued at $17,341,588.78. This trade represents a 2.34% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.00% of the stock is currently owned by insiders.

Institutional Trading of PHINIA

Large investors have recently modified their holdings of the company. Brandywine Global Investment Management LLC bought a new stake in PHINIA during the fourth quarter valued at about $6,874,000. Barclays PLC boosted its stake in PHINIA by 336.2% during the 3rd quarter. Barclays PLC now owns 72,805 shares of the company’s stock valued at $3,351,000 after purchasing an additional 56,114 shares during the period. Empowered Funds LLC increased its position in PHINIA by 5.1% in the 4th quarter. Empowered Funds LLC now owns 239,821 shares of the company’s stock worth $11,552,000 after buying an additional 11,625 shares during the period. Alliancebernstein L.P. lifted its holdings in shares of PHINIA by 4.2% during the fourth quarter. Alliancebernstein L.P. now owns 60,963 shares of the company’s stock worth $2,937,000 after buying an additional 2,445 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of PHINIA by 0.4% in the fourth quarter. Principal Financial Group Inc. now owns 228,584 shares of the company’s stock valued at $11,011,000 after acquiring an additional 842 shares during the period. 90.94% of the stock is owned by 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.