PHINIA Inc. (NYSE:PHIN) Sees Significant Decrease in Short Interest

PHINIA Inc. (NYSE:PHIN) saw a large decrease in short interest in December. As of December 31st, there was short interest totalling 2,510,000 shares, a decrease of 16.6% from the December 15th total of 3,010,000 shares. Currently, 6.1% of the company’s stock are sold short. Based on an average trading volume of 468,200 shares, the days-to-cover ratio is currently 5.4 days.

PHINIA Stock Down 1.4 %

PHIN stock opened at $51.24 on Friday. PHINIA has a twelve month low of $27.86 and a twelve month high of $57.23. The company has a quick ratio of 1.46, a current ratio of 1.93 and a debt-to-equity ratio of 0.58. The company has a market cap of $2.16 billion, a PE ratio of 21.99 and a beta of 1.35. The business’s 50-day simple moving average is $51.30 and its 200 day simple moving average is $47.33.

PHINIA (NYSE:PHIN) last released its quarterly earnings data on Thursday, October 31st. The company reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.38. The business had revenue of $839.00 million for the quarter, compared to analysts’ expectations of $829.82 million. PHINIA had a return on equity of 9.79% and a net margin of 3.10%. During the same period in the previous year, the business posted $0.53 earnings per share. PHINIA’s quarterly revenue was down 6.4% on a year-over-year basis. On average, research analysts anticipate that PHINIA will post 3.44 earnings per share for the current year.

PHINIA Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, November 25th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend was Monday, November 25th. PHINIA’s dividend payout ratio is 42.92%.

Analysts Set New Price Targets

Several research analysts have commented on the company. UBS Group lifted their price target on PHINIA from $55.00 to $57.00 and gave the stock a “buy” rating in a research report on Thursday. Morgan Stanley cut shares of PHINIA from an “overweight” rating to an “equal weight” rating and set a $50.00 target price for the company. in a research note on Wednesday, September 25th.

Institutional Investors Weigh In On PHINIA

Large investors have recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in PHINIA in the second quarter valued at about $49,000. GAMMA Investing LLC raised its stake in shares of PHINIA by 23.9% in the third quarter. GAMMA Investing LLC now owns 1,403 shares of the company’s stock valued at $65,000 after acquiring an additional 271 shares during the last quarter. KBC Group NV boosted its holdings in shares of PHINIA by 49.4% in the 3rd quarter. KBC Group NV now owns 1,495 shares of the company’s stock worth $69,000 after acquiring an additional 494 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in shares of PHINIA by 4,502.9% in the 3rd quarter. International Assets Investment Management LLC now owns 3,222 shares of the company’s stock worth $148,000 after acquiring an additional 3,152 shares in the last quarter. Finally, Creative Planning bought a new stake in PHINIA during the 3rd quarter worth approximately $203,000. 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.