Westport Fuel Systems (NASDAQ:WPRT) Earns Sector Perform Rating from Royal Bank of Canada

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

A number of other equities analysts have also recently weighed in on the company. HC Wainwright reiterated a “buy” rating and set a $22.00 price target on shares of Westport Fuel Systems in a report on Thursday, August 15th. StockNews.com raised Westport Fuel Systems from a “sell” rating to a “hold” rating in a research report on Wednesday, August 14th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $14.13.

Westport Fuel Systems Stock Performance

Westport Fuel Systems stock traded down $0.07 during midday trading on Thursday, hitting $3.98. The stock had a trading volume of 15,253 shares, compared to its average volume of 44,658. The company has a market capitalization of $68.69 million, a PE ratio of -2.66 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 has a 52-week low of $3.91 and a 52-week high of $7.86. The firm’s fifty day moving average is $4.47 and its two-hundred day moving average is $5.37.

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) last posted its quarterly earnings data 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. The company had revenue of $66.25 million during the quarter, compared to analyst estimates of $66.88 million. Westport Fuel Systems had a negative net margin of 8.01% and a negative return on equity of 25.57%. During the same period in the previous year, the firm earned ($0.68) earnings per share. On average, research analysts forecast that Westport Fuel Systems will post -1.89 EPS for the current year.

Hedge Funds Weigh In On Westport Fuel Systems

Several institutional investors and hedge funds have recently added to or reduced their stakes in WPRT. Renaissance Technologies LLC acquired a new position in Westport Fuel Systems during the 2nd quarter worth $67,000. US Bancorp DE raised its position in shares of Westport Fuel Systems by 170.7% in 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 in the last quarter. Finally, Grace & White Inc. NY increased its stake in Westport Fuel Systems by 19.0% in the third quarter. Grace & White Inc. NY now owns 744,182 shares of the auto parts company’s stock valued at $3,416,000 after acquiring an additional 118,860 shares during the last quarter. 21.30% of the stock is currently owned by institutional investors.

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.