ValuEngine Downgrades Westport Fuel Systems (WPRT) to Strong Sell

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) was downgraded by ValuEngine from a “sell” rating to a “strong sell” rating in a note issued to investors on Friday.

Several other equities research analysts have also recently commented on the company. Zacks Investment Research cut Westport Fuel Systems from a “buy” rating to a “hold” rating in a research note on Thursday. Oppenheimer boosted their target price on Westport Fuel Systems from $3.00 to $3.50 and gave the company an “outperform” rating in a research note on Wednesday, November 15th. Lake Street Capital reiterated a “buy” rating and set a $5.00 price objective on shares of Westport Fuel Systems in a research note on Wednesday, November 15th. CIBC assumed coverage on Westport Fuel Systems in a research note on Thursday, August 17th. They set an “outperform” rating and a $3.00 price objective on the stock. Finally, BidaskClub upgraded Westport Fuel Systems from a “hold” rating to a “buy” rating in a research note on Thursday, August 17th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $3.38.

Shares of Westport Fuel Systems (NASDAQ:WPRT) opened at $2.72 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.62 and a debt-to-equity ratio of 0.22. Westport Fuel Systems has a 12 month low of $0.82 and a 12 month high of $4.09.

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) last released its earnings results on Tuesday, November 14th. The auto parts company reported ($0.12) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.15) by $0.03. The firm had revenue of $60.80 million for the quarter, compared to analysts’ expectations of $51.91 million. Westport Fuel Systems had a negative return on equity of 64.05% and a negative net margin of 14.85%. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.30) EPS. analysts predict that Westport Fuel Systems will post -0.51 EPS for the current year.

Several institutional investors have recently made changes to their positions in the company. Royce & Associates LP raised its stake in shares of Westport Fuel Systems by 3.8% during the 3rd quarter. Royce & Associates LP now owns 5,670,983 shares of the auto parts company’s stock worth $18,544,000 after purchasing an additional 206,000 shares in the last quarter. Pembroke Management LTD bought a new stake in shares of Westport Fuel Systems during the 3rd quarter worth approximately $16,069,000. Hood River Capital Management LLC bought a new stake in shares of Westport Fuel Systems during the 3rd quarter worth approximately $7,936,000. Paradigm Capital Management Inc. NY bought a new stake in shares of Westport Fuel Systems during the 2nd quarter worth approximately $1,176,000. Finally, KCG Holdings Inc. raised its stake in shares of Westport Fuel Systems by 313.2% during the 1st quarter. KCG Holdings Inc. now owns 127,134 shares of the auto parts company’s stock worth $122,000 after purchasing an additional 96,365 shares in the last quarter. Institutional investors own 15.99% of the company’s stock.

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Westport Fuel Systems Company Profile

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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