Westport Fuel Systems (NASDAQ:WPRT) Given Sector Perform Rating at Royal Bank of Canada

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT)‘s stock had its “sector perform” rating reaffirmed by equities research analysts at Royal Bank of Canada in a report issued on Thursday,Benzinga reports. They currently have a $8.00 price target on the auto parts company’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 102.53% from the stock’s previous close.

Other equities research analysts have also issued research reports about the company. StockNews.com raised Westport Fuel Systems from a “sell” rating to a “hold” rating in a research note on Wednesday, August 14th. HC Wainwright reissued a “buy” rating and set a $22.00 price objective 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 data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $14.13.

Westport Fuel Systems Price Performance

Shares of Westport Fuel Systems stock traded down $0.05 on Thursday, reaching $3.95. The stock had a trading volume of 53,746 shares, compared to its average volume of 44,483. The business’s 50 day moving average is $4.50 and its two-hundred day moving average is $5.38. The company has a current ratio of 1.54, a quick ratio of 1.10 and a debt-to-equity ratio of 0.17. Westport Fuel Systems has a 1 year low of $3.91 and a 1 year high of $7.86. The company has a market cap of $68.18 million, a P/E ratio of -2.65 and a beta of 2.84.

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) last announced its quarterly earnings results on Tuesday, August 13th. The auto parts company reported ($0.43) EPS for the quarter, beating the consensus estimate of ($0.55) by $0.12. The firm had revenue of $88.64 million during the quarter, compared to the consensus estimate of $86.23 million. Westport Fuel Systems had a negative net margin of 8.01% and a negative return on equity of 25.42%. As a group, research analysts anticipate that Westport Fuel Systems will post -1.89 EPS for the current year.

Institutional Investors Weigh In On Westport Fuel Systems

Hedge funds have recently added to or reduced their stakes in the company. Grace & White Inc. NY boosted 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 worth $3,416,000 after buying an additional 118,860 shares in the last quarter. US Bancorp DE lifted its holdings in shares of Westport Fuel Systems by 170.7% in the 3rd quarter. US Bancorp DE now owns 188,349 shares of the auto parts company’s stock worth $865,000 after acquiring an additional 118,780 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new stake in shares of Westport Fuel Systems in the 2nd quarter worth approximately $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.