Westport Fuel Systems’ (WPRT) Sector Perform Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reissued their sector perform rating on shares of Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) in a research report report published on Thursday,Benzinga reports. Royal Bank of Canada currently has a $8.00 price target on the auto parts company’s stock.

Other equities research analysts also recently issued research reports about the company. StockNews.com raised Westport Fuel Systems from a “sell” rating to a “hold” rating in a report on Wednesday, August 14th. HC Wainwright reaffirmed a “buy” rating and set a $22.00 price target on shares of Westport Fuel Systems in a research note on Thursday, August 15th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $14.13.

Westport Fuel Systems Price Performance

Westport Fuel Systems stock opened at $4.15 on Thursday. Westport Fuel Systems has a one year low of $3.91 and a one year high of $7.86. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.10 and a current ratio of 1.60. The business has a fifty day moving average of $4.44 and a two-hundred day moving average of $5.36. The company has a market cap of $71.63 million, a P/E ratio of -2.79 and a beta of 2.84.

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) last released its earnings results on Tuesday, November 12th. The auto parts company reported ($0.22) EPS for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.19. Westport Fuel Systems had a negative return on equity of 25.57% and a negative net margin of 8.01%. The company had revenue of $66.25 million during the quarter, compared to the consensus estimate of $66.88 million. During the same quarter last year, the company earned ($0.68) earnings per share. As a group, analysts predict that Westport Fuel Systems will post -1.89 earnings per share for the current fiscal year.

Institutional Trading of Westport Fuel Systems

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WPRT. Grace & White Inc. NY increased its position in Westport Fuel Systems by 19.0% during the 3rd quarter. Grace & White Inc. NY now owns 744,182 shares of the auto parts company’s stock worth $3,416,000 after purchasing an additional 118,860 shares in the last quarter. US Bancorp DE increased its position in Westport Fuel Systems by 170.7% during the 3rd quarter. US Bancorp DE now owns 188,349 shares of the auto parts company’s stock worth $865,000 after purchasing an additional 118,780 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in Westport Fuel Systems during the 2nd quarter worth about $67,000. Hedge funds and other institutional investors own 21.30% of the company’s stock.

Westport Fuel Systems Company Profile

Westport Fuel Systems Inc engages in the engineering, manufacturing, and supplying alternative fuel systems and components for use in transportation applications in Europe, Asia, North America, South America, and internationally. The company operates through two segments, Original Equipment Manufacturers and Independent Aftermarket.