Westport Fuel Systems’ (WPRT) “Sector Perform” Rating Reiterated at Royal Bank of Canada

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

WPRT has been the subject of several other research reports. StockNews.com upgraded shares of Westport Fuel Systems from a “sell” rating to a “hold” rating in a research note on Wednesday, August 14th. HC Wainwright restated a “buy” rating and set a $22.00 target price on shares of Westport Fuel Systems in a report on Thursday, August 15th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $14.13.

Westport Fuel Systems Stock Up 2.5 %

Shares of NASDAQ WPRT opened at $4.15 on Thursday. The company has a quick ratio of 1.10, a current ratio of 1.60 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 has a 50-day moving average price of $4.44 and a 200 day moving average price of $5.36. The stock has a market capitalization of $71.65 million, a price-to-earnings ratio of -2.79 and a beta of 2.84.

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

Hedge Funds Weigh In On Westport Fuel Systems

Hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC purchased a new position in Westport Fuel Systems during the 2nd quarter valued at about $67,000. 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 worth $865,000 after buying an additional 118,780 shares in the last quarter. Finally, Grace & White Inc. NY grew its holdings in shares of Westport Fuel Systems by 5.2% during 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. 21.30% of the stock is currently owned by hedge funds and other institutional investors.

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.