Westport Fuel Systems (NASDAQ:WPRT) Earns Buy Rating from HC Wainwright

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT)‘s stock had its “buy” rating reissued by investment analysts at HC Wainwright in a report issued on Friday,Benzinga reports. They currently have a $22.00 price objective on the auto parts company’s stock. HC Wainwright’s price target indicates a potential upside of 430.12% from the company’s current price.

Several other analysts also recently weighed in on the company. Royal Bank of Canada restated a “sector perform” rating and set a $8.00 target price on shares of Westport Fuel Systems in a research note on Thursday. StockNews.com upgraded shares of Westport Fuel Systems from a “sell” rating to a “hold” rating in a research note on Wednesday, August 14th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $14.13.

Westport Fuel Systems Price Performance

Shares of Westport Fuel Systems stock opened at $4.15 on Friday. Westport Fuel Systems has a 1-year low of $3.91 and a 1-year high of $7.86. The firm has a fifty day simple moving average of $4.44 and a 200-day simple moving average of $5.36. The company has a current ratio of 1.60, a quick ratio of 1.10 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $71.65 million, a price-to-earnings ratio of -2.79 and a beta of 2.84.

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) last released its earnings results on Tuesday, November 12th. The auto parts company reported ($0.22) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.19. The firm had revenue of $66.25 million during 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 previous year, the business earned ($0.68) EPS. On average, sell-side analysts expect that Westport Fuel Systems will post -1.89 earnings per share for the current year.

Institutional Trading of Westport Fuel Systems

Institutional investors and hedge funds have recently modified their holdings of the company. Grace & White Inc. NY boosted its stake 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 in the last quarter. US Bancorp DE lifted its holdings in shares of Westport Fuel Systems by 170.7% during the 3rd quarter. US Bancorp DE now owns 188,349 shares of the auto parts company’s stock worth $865,000 after acquiring an additional 118,780 shares during the period. Finally, Renaissance Technologies LLC acquired a new stake in shares of Westport Fuel Systems during the 2nd quarter valued at about $67,000. 21.30% of the stock is currently owned by institutional investors.

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.