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

Royal Bank of Canada reaffirmed 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.

WPRT has been the topic of a number of other reports. StockNews.com raised shares of Westport Fuel Systems from a “sell” rating to a “hold” rating in a research note on Wednesday, August 14th. HC Wainwright reaffirmed a “buy” rating and set a $22.00 target price on shares of Westport Fuel Systems in a report on Thursday, August 15th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $14.13.

Westport Fuel Systems Price Performance

Shares of Westport Fuel Systems stock traded down $0.07 during trading hours on Thursday, reaching $3.98. The company’s stock had a trading volume of 15,253 shares, compared to its average volume of 44,658. The stock has a market cap of $68.69 million, a P/E ratio of -2.66 and a beta of 2.84. Westport Fuel Systems has a one year low of $3.91 and a one year high of $7.86. The firm has a 50 day moving average price of $4.47 and a 200-day moving average price of $5.37. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.60 and a quick ratio of 1.10.

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) last issued its quarterly earnings results on Tuesday, November 12th. The auto parts company reported ($0.22) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.19. The business 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 quarter in the prior year, the business posted ($0.68) EPS. On average, analysts predict that Westport Fuel Systems will post -1.89 EPS for the current year.

Institutional Trading of Westport Fuel Systems

A number of institutional investors and hedge funds have recently made changes to their positions in WPRT. Renaissance Technologies LLC acquired a new stake in shares of Westport Fuel Systems during the second quarter worth $67,000. US Bancorp DE lifted 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 valued at $865,000 after purchasing an additional 118,780 shares during the last quarter. Finally, Grace & White Inc. NY increased its stake in shares of Westport Fuel Systems by 5.2% in the second quarter. Grace & White Inc. NY now owns 625,322 shares of the auto parts company’s stock worth $3,483,000 after buying an additional 30,740 shares during the period. Institutional investors own 21.30% of the company’s stock.

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.