Westport Fuel Systems’ (WPRT) Sector Perform Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reiterated their sector perform rating on shares of Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) in a report published on Thursday,Benzinga reports. The firm currently has a $8.00 price target on the auto parts company’s stock.

Other equities analysts have also issued reports about the stock. StockNews.com upgraded shares of Westport Fuel Systems from a “sell” rating to a “hold” rating in a research note on Wednesday, August 14th. HC Wainwright restated a “buy” rating and set a $22.00 target price on shares of Westport Fuel Systems in a research report on Thursday, August 15th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $14.13.

Westport Fuel Systems Stock Performance

Shares of Westport Fuel Systems stock opened at $4.15 on Thursday. The firm has a market capitalization of $71.63 million, a P/E ratio of -2.79 and a beta of 2.84. Westport Fuel Systems has a 52 week low of $3.91 and a 52 week high of $7.86. 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 firm’s 50 day moving average is $4.44 and its two-hundred day moving average is $5.36.

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) last announced its quarterly earnings results on Tuesday, November 12th. The auto parts company reported ($0.22) EPS for the quarter, beating the consensus estimate of ($0.41) by $0.19. The company had revenue of $66.25 million for the quarter, compared to analyst estimates of $66.88 million. Westport Fuel Systems had a negative net margin of 8.01% and a negative return on equity of 25.57%. During the same period in the prior year, the firm posted ($0.68) earnings per share. Research analysts forecast that Westport Fuel Systems will post -1.89 EPS for the current fiscal year.

Hedge Funds Weigh In On Westport Fuel Systems

A number of hedge funds have recently modified their holdings of WPRT. Renaissance Technologies LLC purchased a new position in Westport Fuel Systems in the 2nd quarter valued at $67,000. US Bancorp DE grew its position in Westport Fuel Systems by 170.7% in the 3rd quarter. US Bancorp DE now owns 188,349 shares of the auto parts company’s stock valued at $865,000 after buying an additional 118,780 shares during the last quarter. Finally, Grace & White Inc. NY grew its position in Westport Fuel Systems by 19.0% in the 3rd quarter. Grace & White Inc. NY now owns 744,182 shares of the auto parts company’s stock valued at $3,416,000 after buying an additional 118,860 shares during the last quarter. 21.30% of the stock is currently owned by hedge funds and other institutional investors.

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.