Lake Street Capital reiterated their buy rating on shares of Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) in a report released on Wednesday, November 15th, MarketBeat reports. They currently have a $5.00 price target on the auto parts company’s stock.
A number of other brokerages also recently issued reports on WPRT. Zacks Investment Research upgraded Westport Fuel Systems from a hold rating to a buy rating and set a $4.25 price objective on the stock in a research report on Thursday, October 12th. ValuEngine downgraded Westport Fuel Systems from a hold rating to a sell rating in a research report on Friday, September 1st. CIBC began coverage on Westport Fuel Systems in a research report on Thursday, August 17th. They issued an outperform rating and a $3.00 price objective on the stock. BidaskClub upgraded Westport Fuel Systems from a hold rating to a buy rating in a research report on Thursday, August 17th. Finally, Oppenheimer began coverage on Westport Fuel Systems in a research note on Wednesday, August 16th. They set an outperform rating and a $3.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $3.38.
Westport Fuel Systems (WPRT) traded down $0.04 during mid-day trading on Wednesday, hitting $2.68. The stock had a trading volume of 1,346,113 shares, compared to its average volume of 918,584. Westport Fuel Systems has a 52 week low of $0.82 and a 52 week high of $4.09. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.62 and a quick ratio of 1.13.
Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) last posted its earnings results on Tuesday, November 14th. The auto parts company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.03. The firm had revenue of $60.80 million for the quarter, compared to the consensus estimate of $51.91 million. Westport Fuel Systems had a negative return on equity of 64.05% and a negative net margin of 14.85%. The business’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.30) earnings per share. analysts anticipate that Westport Fuel Systems will post -0.51 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in WPRT. Wells Fargo & Company MN raised its holdings in Westport Fuel Systems by 496.2% in the 1st quarter. Wells Fargo & Company MN now owns 108,054 shares of the auto parts company’s stock worth $103,000 after acquiring an additional 89,931 shares during the last quarter. KCG Holdings Inc. grew its position in Westport Fuel Systems by 313.2% in the 1st quarter. KCG Holdings Inc. now owns 127,134 shares of the auto parts company’s stock worth $122,000 after purchasing an additional 96,365 shares during the period. Northern Trust Corp grew its position in shares of Westport Fuel Systems by 0.5% during the 2nd quarter. Northern Trust Corp now owns 68,774 shares of the auto parts company’s stock valued at $161,000 after acquiring an additional 346 shares during the period. Royal Bank of Canada grew its position in shares of Westport Fuel Systems by 0.5% during the 2nd quarter. Royal Bank of Canada now owns 72,049 shares of the auto parts company’s stock valued at $169,000 after acquiring an additional 375 shares during the period. Finally, Paradigm Capital Management Inc. NY bought a new stake in shares of Westport Fuel Systems during the 2nd quarter valued at $1,176,000. Institutional investors own 15.99% of the company’s stock.
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Westport Fuel Systems Company Profile
Westport Fuel Systems Inc, formerly Westport Innovations Inc, is a Canada-based provider of low-emission engine and fuel system technologies utilizing gaseous fuels. It operates through the Westport Operations segment. The Westport Operations segment designs, manufactures and sells compressed natural gas, liquefied natural gas, and liquefied petroleum gas components and systems to original equipment manufacturers and to aftermarket customers.
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