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

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

Other analysts have also recently issued research reports about the company. Royal Bank of Canada reiterated a “sector perform” rating and set a $8.00 price objective on shares of Westport Fuel Systems in a research report on Thursday. StockNews.com upgraded shares of Westport Fuel Systems from a “sell” rating to a “hold” rating in a report on Wednesday, August 14th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $14.13.

Westport Fuel Systems Price Performance

Shares of WPRT traded up $0.10 during mid-day trading on Friday, reaching $4.15. 70,421 shares of the company’s stock were exchanged, compared to its average volume of 67,660. 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 company has a market cap of $71.63 million, a price-to-earnings ratio of -2.79 and a beta of 2.84. The company has a 50-day simple moving average of $4.44 and a two-hundred day simple moving average of $5.36.

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) last released its quarterly earnings results on Tuesday, November 12th. The auto parts company reported ($0.22) earnings per share for the quarter, topping the consensus estimate of ($0.41) by $0.19. Westport Fuel Systems had a negative return on equity of 25.57% and a negative net margin of 8.01%. The company had revenue of $66.25 million during the quarter, compared to the consensus estimate of $66.88 million. During the same quarter last year, the business posted ($0.68) earnings per share. On average, sell-side analysts predict that Westport Fuel Systems will post -1.89 EPS for the current fiscal year.

Institutional Trading of Westport Fuel Systems

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WPRT. US Bancorp DE lifted its holdings in shares of 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 acquiring an additional 118,780 shares during the period. Grace & White Inc. NY lifted its stake 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 valued at $3,416,000 after purchasing an additional 118,860 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in Westport Fuel Systems during the second quarter worth approximately $67,000. Hedge funds and other 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.