Westport Fuel Systems (NASDAQ:WPRT) Given New $4.00 Price Target at Royal Bank of Canada

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) had its price target cut by Royal Bank of Canada from $8.00 to $4.00 in a report released on Tuesday, MarketBeat.com reports. They currently have a sector perform rating on the auto parts company’s stock.

Westport Fuel Systems Stock Performance

Shares of NASDAQ:WPRT opened at $3.56 on Tuesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.60 and a quick ratio of 1.00. Westport Fuel Systems has a 1 year low of $3.26 and a 1 year high of $6.69. The firm has a market capitalization of $61.53 million, a PE ratio of -2.39 and a beta of 2.93. The business’s 50 day moving average price is $4.15 and its 200-day moving average price is $4.18.

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) last announced its earnings results on Monday, March 31st. The auto parts company reported ($0.59) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.35). The business had revenue of $75.10 million for the quarter, compared to analyst estimates of $70.68 million. Westport Fuel Systems had a negative return on equity of 25.57% and a negative net margin of 8.01%. As a group, equities research analysts expect that Westport Fuel Systems will post -1.69 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in WPRT. TD Waterhouse Canada Inc. increased its position in shares of Westport Fuel Systems by 2,384.7% during the fourth quarter. TD Waterhouse Canada Inc. now owns 16,374 shares of the auto parts company’s stock valued at $57,000 after acquiring an additional 15,715 shares during the last quarter. Millennium Management LLC purchased a new position in shares of Westport Fuel Systems during the 4th quarter worth approximately $149,000. Baird Financial Group Inc. raised its position in Westport Fuel Systems by 34.6% in the fourth quarter. Baird Financial Group Inc. now owns 916,168 shares of the auto parts company’s stock valued at $3,280,000 after purchasing an additional 235,610 shares during the period. Finally, Grace & White Inc. NY lifted its stake in Westport Fuel Systems by 40.3% during the fourth quarter. Grace & White Inc. NY now owns 1,043,980 shares of the auto parts company’s stock worth $3,737,000 after purchasing an additional 299,798 shares in the last quarter. 21.30% of the stock is currently owned by institutional investors and hedge funds.

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.