HC Wainwright set a $5.00 price target on Westport Fuel Systems Inc (NASDAQ:WPRT) (TSE:WPT) in a research note issued to investors on Tuesday. The brokerage currently has a buy rating on the auto parts company’s stock.
Other equities research analysts have also issued research reports about the stock. Zacks Investment Research raised shares of Westport Fuel Systems from a hold rating to a buy rating and set a $2.25 price objective on the stock in a report on Thursday, July 13th. Cowen and Company reissued a hold rating and set a $1.50 price objective on shares of Westport Fuel Systems in a report on Friday, July 14th. Finally, ValuEngine raised shares of Westport Fuel Systems from a sell rating to a hold rating in a report on Tuesday, June 27th.
Shares of Westport Fuel Systems (WPRT) opened at 2.20 on Tuesday. Westport Fuel Systems has a 12 month low of $0.82 and a 12 month high of $2.65. The firm has a 50-day moving average price of $1.88 and a 200-day moving average price of $1.45. The stock’s market cap is $242.70 million.
Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPT) last posted its earnings results on Monday, August 14th. The auto parts company reported ($0.12) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.15) by $0.03. Westport Fuel Systems had a negative net margin of 20.37% and a negative return on equity of 68.19%. The business had revenue of $62.10 million for the quarter, compared to analyst estimates of $58.44 million. During the same quarter in the prior year, the firm earned $0.05 EPS. The firm’s quarterly revenue was up 66.9% compared to the same quarter last year. Equities analysts expect that Westport Fuel Systems will post ($0.47) EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royce & Associates LP increased its position in Westport Fuel Systems by 1.4% in the second quarter. Royce & Associates LP now owns 5,464,983 shares of the auto parts company’s stock worth $12,843,000 after buying an additional 73,000 shares during the last quarter. Grace & White Inc. NY increased its position in Westport Fuel Systems by 14.0% in the first quarter. Grace & White Inc. NY now owns 2,091,080 shares of the auto parts company’s stock worth $2,007,000 after buying an additional 256,129 shares during the last quarter. Paradigm Capital Management Inc. NY acquired a new position in Westport Fuel Systems during the second quarter worth about $1,176,000. Norges Bank acquired a new position in Westport Fuel Systems during the fourth quarter worth about $508,000. Finally, US Bancorp DE increased its position in Westport Fuel Systems by 62.7% in the first quarter. US Bancorp DE now owns 250,200 shares of the auto parts company’s stock worth $240,000 after buying an additional 96,401 shares during the last quarter. Institutional investors own 9.40% of the company’s stock.
About Westport Fuel Systems
Westport Fuel Systems Inc, formerly Westport Innovations Inc, is a Canada-based provider of low-emission engine and fuel system technologies utilizing gaseous fuels. It operates through the Westport Operations segment. The Westport Operations segment designs, manufactures and sells compressed natural gas, liquefied natural gas, and liquefied petroleum gas components and systems to original equipment manufacturers and to aftermarket customers.
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