Shares of Westport Fuel Systems Inc (NASDAQ:WPRT) (TSE:WPRT) have received an average rating of “Hold” from the eight ratings firms that are presently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $4.70.
WPRT has been the topic of several recent analyst reports. Zacks Investment Research downgraded Westport Fuel Systems from a “buy” rating to a “hold” rating in a research report on Monday, July 16th. BidaskClub cut Westport Fuel Systems from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 26th. Lake Street Capital boosted their price objective on Westport Fuel Systems from $5.00 to $6.00 and gave the company a “buy” rating in a research report on Thursday, August 30th. Finally, HC Wainwright began coverage on Westport Fuel Systems in a research report on Thursday, September 20th. They set a “buy” rating and a $6.00 price objective on the stock.
Shares of NASDAQ WPRT opened at $2.71 on Tuesday. The company has a current ratio of 1.52, a quick ratio of 1.14 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $370.92 million, a price-to-earnings ratio of -6.16 and a beta of 2.27. Westport Fuel Systems has a 12 month low of $2.10 and a 12 month high of $4.33.
Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) last issued its quarterly earnings results on Thursday, August 9th. The auto parts company reported ($0.04) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.04). The company had revenue of $80.49 million for the quarter, compared to the consensus estimate of $64.50 million. Westport Fuel Systems had a negative return on equity of 40.52% and a negative net margin of 17.94%. On average, research analysts forecast that Westport Fuel Systems will post -0.24 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in WPRT. Manatuck Hill Partners LLC increased its position in shares of Westport Fuel Systems by 143.0% during the second quarter. Manatuck Hill Partners LLC now owns 2,386,362 shares of the auto parts company’s stock valued at $6,037,000 after purchasing an additional 1,404,462 shares during the period. Paradigm Capital Management Inc. NY increased its position in shares of Westport Fuel Systems by 229.2% during the second quarter. Paradigm Capital Management Inc. NY now owns 657,530 shares of the auto parts company’s stock valued at $1,663,000 after purchasing an additional 457,780 shares during the period. Cortina Asset Management LLC increased its position in shares of Westport Fuel Systems by 20.6% during the second quarter. Cortina Asset Management LLC now owns 1,928,576 shares of the auto parts company’s stock valued at $4,879,000 after purchasing an additional 330,047 shares during the period. Ardsley Advisory Partners increased its position in shares of Westport Fuel Systems by 42.9% during the second quarter. Ardsley Advisory Partners now owns 500,000 shares of the auto parts company’s stock valued at $1,265,000 after purchasing an additional 150,000 shares during the period. Finally, Granite Investment Partners LLC bought a new stake in shares of Westport Fuel Systems during the second quarter valued at approximately $342,000. Institutional investors and hedge funds own 22.38% of the company’s stock.
About Westport Fuel Systems
Westport Fuel Systems Inc engineers, manufactures, and supplies alternative fuel systems and components for the transportation and industrial markets worldwide. It operates through Transportation and Cummins Westport Inc Joint Venture segments. The company designs, manufactures, and sells compressed natural gas (CNG) and liquid petroleum gas (LPG) components and systems, such as pressure regulators, injectors, electronic control units, valves, and filters, as well as bi-fuel, mono-fuel, and dual-fuel LPG and CNG conversion kits for passenger cars, light-duty trucks, and medium-duty vehicles, including original engine manufacture (OEM), delayed OEM, and aftermarket segments.
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