Westport Fuel Systems (NASDAQ:WPRT) Given “Buy” Rating at HC Wainwright

HC Wainwright reissued their buy rating on shares of Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) in a research report sent to investors on Friday,Benzinga reports. HC Wainwright currently has a $22.00 price target on the auto parts company’s stock.

Other equities analysts have also recently issued research reports about the company. StockNews.com upgraded Westport Fuel Systems from a “sell” rating to a “hold” rating in a research note on Wednesday, August 14th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $8.00 price objective on shares of Westport Fuel Systems in a research note on Thursday, November 14th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $14.13.

Westport Fuel Systems Stock Performance

Shares of Westport Fuel Systems stock opened at $4.40 on Friday. The business has a 50-day moving average of $4.42 and a 200 day moving average of $5.35. Westport Fuel Systems has a 12 month low of $3.91 and a 12 month high of $7.86. The stock has a market capitalization of $75.94 million, a price-to-earnings ratio of -2.95 and a beta of 2.84. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.60 and a quick ratio of 1.00.

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) last announced its quarterly earnings data on Tuesday, November 12th. The auto parts company reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.41) by $0.19. The business had revenue of $66.25 million during the quarter, compared to analysts’ expectations 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 quarter last year, the business posted ($0.68) EPS. As a group, sell-side analysts forecast that Westport Fuel Systems will post -1.89 earnings per share for the current year.

Institutional Investors Weigh In On Westport Fuel Systems

Several institutional investors have recently added to or reduced their stakes in the business. Grace & White Inc. NY increased its position in Westport Fuel Systems by 19.0% during the third quarter. Grace & White Inc. NY now owns 744,182 shares of the auto parts company’s stock worth $3,416,000 after buying an additional 118,860 shares during the period. US Bancorp DE increased its position in Westport Fuel Systems by 170.7% during the third quarter. US Bancorp DE now owns 188,349 shares of the auto parts company’s stock worth $865,000 after buying an additional 118,780 shares during the period. Finally, Renaissance Technologies LLC acquired a new position in Westport Fuel Systems during the second quarter worth approximately $67,000. Hedge funds and other institutional investors own 21.30% of the company’s stock.

Westport Fuel Systems Company Profile

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.