Westport Fuel Systems (NASDAQ:WPRT) Earns Buy Rating from HC Wainwright

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

Several other research firms have also recently issued reports on WPRT. StockNews.com upgraded shares of Westport Fuel Systems from a “sell” rating to a “hold” rating in a research report on Wednesday, August 14th. Royal Bank of Canada reissued a “sector perform” rating and set a $8.00 price target on shares of Westport Fuel Systems in a research note on Thursday. Three 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, the stock has a consensus rating of “Hold” and an average price target of $14.13.

Westport Fuel Systems Stock Up 2.5 %

WPRT stock opened at $4.15 on Friday. The business’s 50-day moving average price is $4.44 and its 200-day moving average price is $5.36. The stock has a market cap of $71.63 million, a P/E ratio of -2.79 and a beta of 2.84. 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 twelve month low of $3.91 and a twelve month high of $7.86.

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) last issued its quarterly earnings results on Tuesday, November 12th. The auto parts company reported ($0.22) earnings per share for the quarter, beating the consensus estimate of ($0.41) by $0.19. The business had revenue of $66.25 million for the quarter, compared to the consensus estimate 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 quarter in the previous year, the firm earned ($0.68) earnings per share. On average, equities research analysts forecast that Westport Fuel Systems will post -1.89 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in WPRT. Grace & White Inc. NY lifted its holdings in shares of Westport Fuel Systems by 19.0% in the 3rd quarter. Grace & White Inc. NY now owns 744,182 shares of the auto parts company’s stock worth $3,416,000 after acquiring an additional 118,860 shares during the last quarter. US Bancorp DE increased its holdings in Westport Fuel Systems by 170.7% during the 3rd quarter. US Bancorp DE now owns 188,349 shares of the auto parts company’s stock worth $865,000 after purchasing an additional 118,780 shares during the period. Finally, Renaissance Technologies LLC bought a new stake in Westport Fuel Systems during the 2nd quarter valued at $67,000. Institutional investors own 21.30% of the company’s stock.

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.