Westport Fuel Systems (WPRT) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research lowered shares of Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) from a buy rating to a hold rating in a research report report published on Thursday.

According to Zacks, “Westport Fuel Systems’ earnings and revenues beat the Zacks Consensus Estimate in the third quarter. Compared with the year-ago figures, both earnings per share and revenues were higher. The company has been trying to improve its balance sheet figures. In the first nine months of 2017, the company sold a few of its non-core assets, repaid part of its debt and raised funding through share offerings in order to improve its liquidity. Also, it frequently engages in investments and acquisitions related to technologies and businesses, which help the company commercialize its products and increase the global footprint. Also, in the last six months, shares of the company have outperformed the industry it belongs to.”

A number of other equities research analysts also recently commented on the stock. Lake Street Capital increased their price objective on shares of Westport Fuel Systems from $3.00 to $5.00 and gave the company a hold rating in a research report on Thursday, October 5th. ValuEngine downgraded shares of Westport Fuel Systems from a hold rating to a sell rating in a research report on Friday, September 1st. Oppenheimer increased their price objective on shares of Westport Fuel Systems from $3.00 to $3.50 and gave the company an outperform rating in a research report on Wednesday, November 15th. CIBC started coverage on shares of Westport Fuel Systems in a research report on Thursday, August 17th. They issued an outperform rating and a $3.00 price objective on the stock. Finally, BidaskClub raised shares of Westport Fuel Systems from a hold rating to a buy rating in a research report on Thursday, August 17th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $3.38.

Shares of Westport Fuel Systems (NASDAQ:WPRT) opened at $2.72 on Thursday. Westport Fuel Systems has a 52-week low of $0.82 and a 52-week high of $4.09. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.13 and a current ratio of 1.62.

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

Institutional investors have recently modified their holdings of the company. KCG Holdings Inc. boosted its holdings in shares of Westport Fuel Systems by 313.2% in the 1st quarter. KCG Holdings Inc. now owns 127,134 shares of the auto parts company’s stock valued at $122,000 after buying an additional 96,365 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Westport Fuel Systems by 0.5% in the 2nd quarter. Northern Trust Corp now owns 68,774 shares of the auto parts company’s stock valued at $161,000 after buying an additional 346 shares in the last quarter. Royal Bank of Canada boosted its holdings in shares of Westport Fuel Systems by 0.5% in the 2nd quarter. Royal Bank of Canada now owns 72,049 shares of the auto parts company’s stock valued at $169,000 after buying an additional 375 shares in the last quarter. Paradigm Capital Management Inc. NY acquired a new position in shares of Westport Fuel Systems in the 2nd quarter valued at $1,176,000. Finally, Hood River Capital Management LLC acquired a new position in shares of Westport Fuel Systems in the 3rd quarter valued at $7,936,000. Institutional investors and hedge funds 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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