Royal Bank Of Canada Issues Pessimistic Forecast for Westport Fuel Systems (NASDAQ:WPRT) Stock Price

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) had its price objective cut by equities research analysts at Royal Bank Of Canada from $4.00 to $3.00 in a research report issued on Wednesday, MarketBeat reports. The firm currently has a “sector perform” rating on the auto parts company’s stock. Royal Bank Of Canada’s price target indicates a potential upside of 1.69% from the company’s current price.

A number of other brokerages also recently commented on WPRT. HC Wainwright reissued a “buy” rating and issued a $7.00 price objective on shares of Westport Fuel Systems in a research report on Wednesday. Wall Street Zen began coverage on shares of Westport Fuel Systems in a research report on Friday, May 16th. They issued a “hold” rating on the stock.

Westport Fuel Systems Price Performance

Shares of WPRT opened at $2.95 on Wednesday. Westport Fuel Systems has a fifty-two week low of $2.50 and a fifty-two week high of $6.20. The firm’s 50 day moving average price is $3.38 and its 200 day moving average price is $3.45. The company has a market cap of $51.18 million, a P/E ratio of -1.01 and a beta of 2.88. The company has a quick ratio of 0.94, a current ratio of 1.43 and a debt-to-equity ratio of 0.01.

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) last announced its quarterly earnings data on Monday, August 11th. The auto parts company reported ($0.29) EPS for the quarter, meeting analysts’ consensus estimates of ($0.29). Westport Fuel Systems had a negative net margin of 16.85% and a negative return on equity of 16.12%. The company had revenue of $12.50 million for the quarter, compared to the consensus estimate of $75.49 million. On average, research analysts forecast that Westport Fuel Systems will post -1.69 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Baird Financial Group Inc. grew its position in shares of Westport Fuel Systems by 4.1% in the 1st quarter. Baird Financial Group Inc. now owns 954,186 shares of the auto parts company’s stock valued at $3,540,000 after buying an additional 38,018 shares during the last quarter. Banque Transatlantique SA purchased a new position in shares of Westport Fuel Systems in the 1st quarter valued at $1,371,000. Wealthquest Corp purchased a new position in shares of Westport Fuel Systems in the 1st quarter valued at $925,000. Millennium Management LLC purchased a new position in shares of Westport Fuel Systems in the 4th quarter valued at $149,000. Finally, TD Waterhouse Canada Inc. grew its position in shares of Westport Fuel Systems by 2,384.7% in the 4th quarter. TD Waterhouse Canada Inc. now owns 16,374 shares of the auto parts company’s stock valued at $57,000 after buying an additional 15,715 shares during the last quarter. 21.30% of the stock is 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.