PHINIA (NYSE:PHIN) Hits New 1-Year High at $38.36

Shares of PHINIA Inc. (NYSE:PHIN) hit a new 52-week high on Thursday . The company traded as high as $38.36 and last traded at $38.12, with a volume of 5478 shares changing hands. The stock had previously closed at $37.87.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley began coverage on PHINIA in a research report on Monday, March 11th. They issued an “overweight” rating and a $50.00 price objective on the stock.

PHINIA Stock Up 2.0 %

The firm’s 50 day moving average price is $33.21 and its two-hundred day moving average price is $29.22. The company has a quick ratio of 1.25, a current ratio of 1.68 and a debt-to-equity ratio of 0.38.

PHINIA (NYSE:PHIN) last posted its quarterly earnings results on Wednesday, February 21st. The company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.06. The company had revenue of $882.00 million during the quarter, compared to analyst estimates of $900.00 million. The company’s revenue was up 3.6% on a year-over-year basis. During the same period in the prior year, the company earned $1.75 earnings per share. On average, research analysts predict that PHINIA Inc. will post 4.02 EPS for the current year.

PHINIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Monday, February 26th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date was Friday, February 23rd.

Hedge Funds Weigh In On PHINIA

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. acquired a new stake in PHINIA in the third quarter worth approximately $142,304,000. Cooper Creek Partners Management LLC purchased a new position in shares of PHINIA in the third quarter worth approximately $56,398,000. Harris Associates L P acquired a new stake in PHINIA during the 3rd quarter valued at $53,654,000. Pacer Advisors Inc. lifted its stake in PHINIA by 58.2% in the 4th quarter. Pacer Advisors Inc. now owns 2,350,167 shares of the company’s stock worth $71,187,000 after acquiring an additional 865,016 shares in the last quarter. Finally, LSV Asset Management purchased a new stake in PHINIA in the 3rd quarter worth approximately $19,461,000. 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.