Westport Fuel Systems’ (WPRT) Buy Rating Reiterated at HC Wainwright

HC Wainwright restated their buy rating on shares of Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) in a report published on Friday,Benzinga reports. HC Wainwright currently has a $22.00 price target on the auto parts company’s stock.

A number of other equities analysts have also commented on the stock. Royal Bank of Canada reissued a “sector perform” rating and issued a $8.00 price target on shares of Westport Fuel Systems in a report on Thursday. StockNews.com upgraded shares of Westport Fuel Systems from a “sell” rating to a “hold” rating in a report on Wednesday, August 14th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $14.13.

Westport Fuel Systems Price Performance

Shares of NASDAQ WPRT opened at $4.15 on Friday. Westport Fuel Systems has a 1-year low of $3.91 and a 1-year high of $7.86. The stock has a fifty day simple moving average of $4.44 and a two-hundred day simple moving average of $5.36. The firm has a market cap of $71.63 million, a price-to-earnings ratio of -2.79 and a beta of 2.84. The company has a current ratio of 1.60, a quick ratio of 1.10 and a debt-to-equity ratio of 0.16.

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) last issued its earnings results on Tuesday, November 12th. The auto parts company reported ($0.22) EPS for the quarter, topping the consensus estimate 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 business 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) EPS. Analysts anticipate that Westport Fuel Systems will post -1.89 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC bought a new stake in Westport Fuel Systems during the second quarter worth about $67,000. Grace & White Inc. NY lifted its stake in shares of Westport Fuel Systems by 5.2% in the second quarter. Grace & White Inc. NY now owns 625,322 shares of the auto parts company’s stock worth $3,483,000 after buying an additional 30,740 shares in the last quarter. Finally, US Bancorp DE grew its holdings in shares of Westport Fuel Systems by 170.7% during the third quarter. US Bancorp DE now owns 188,349 shares of the auto parts company’s stock valued at $865,000 after buying an additional 118,780 shares during the last quarter. Hedge funds and other institutional investors own 21.30% of the company’s stock.

About Westport Fuel Systems

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.