Royal Bank of Canada Cuts Westport Fuel Systems (NASDAQ:WPRT) Price Target to $4.00

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) had its price objective trimmed by Royal Bank of Canada from $8.00 to $4.00 in a research report released on Tuesday, MarketBeat reports. The brokerage currently has a sector perform rating on the auto parts company’s stock.

Westport Fuel Systems Trading Down 8.8 %

Westport Fuel Systems stock opened at $3.10 on Tuesday. The business has a 50 day moving average price of $4.10 and a two-hundred day moving average price of $4.16. The company has a quick ratio of 1.00, a current ratio of 1.60 and a debt-to-equity ratio of 0.16. Westport Fuel Systems has a 12 month low of $3.07 and a 12 month high of $6.69. The stock has a market cap of $53.58 million, a price-to-earnings ratio of -2.08 and a beta of 2.93.

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) last issued its earnings results on Monday, March 31st. The auto parts company reported ($0.59) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.35). The business had revenue of $75.10 million for the quarter, compared to analyst estimates of $70.68 million. Westport Fuel Systems had a negative net margin of 8.01% and a negative return on equity of 25.57%. As a group, equities analysts forecast that Westport Fuel Systems will post -1.69 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. TD Waterhouse Canada Inc. grew its holdings in shares of Westport Fuel Systems by 2,384.7% during the fourth quarter. TD Waterhouse Canada Inc. now owns 16,374 shares of the auto parts company’s stock worth $57,000 after purchasing an additional 15,715 shares during the last quarter. Millennium Management LLC bought a new position in shares of Westport Fuel Systems in the fourth quarter valued at about $149,000. Baird Financial Group Inc. lifted its position in Westport Fuel Systems by 34.6% during the 4th quarter. Baird Financial Group Inc. now owns 916,168 shares of the auto parts company’s stock worth $3,280,000 after buying an additional 235,610 shares in the last quarter. Finally, Grace & White Inc. NY grew its holdings in Westport Fuel Systems by 40.3% during the 4th quarter. Grace & White Inc. NY now owns 1,043,980 shares of the auto parts company’s stock worth $3,737,000 after acquiring an additional 299,798 shares during the last quarter. 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.