Westport Fuel Systems (NASDAQ:WPRT) Releases Earnings Results, Beats Expectations By $0.19 EPS

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) posted its earnings results on Tuesday. The auto parts company reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.41) by $0.19, Zacks reports. The firm had revenue of $66.25 million for the quarter, compared to analyst estimates of $66.88 million. Westport Fuel Systems had a negative return on equity of 25.57% and a negative net margin of 8.01%. During the same period last year, the company earned ($0.68) earnings per share.

Westport Fuel Systems Stock Performance

WPRT traded down $0.09 on Friday, hitting $3.96. 12,111 shares of the company traded hands, compared to its average volume of 44,638. Westport Fuel Systems has a 12-month low of $3.91 and a 12-month high of $7.86. The company has a 50 day moving average of $4.47 and a 200-day moving average of $5.37. The company has a quick ratio of 1.10, a current ratio of 1.60 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $68.35 million, a PE ratio of -2.68 and a beta of 2.84.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. HC Wainwright reiterated a “buy” rating and issued a $22.00 target price on shares of Westport Fuel Systems in a report on Thursday, August 15th. StockNews.com upgraded shares of Westport Fuel Systems from a “sell” rating to a “hold” rating in a research note on Wednesday, August 14th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $8.00 price target on shares of Westport Fuel Systems in a report on Thursday. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $14.13.

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.