Royal Bank of Canada Reaffirms “Sector Perform” Rating for Westport Fuel Systems (NASDAQ:WPRT)

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT)‘s stock had its “sector perform” rating reiterated by analysts at Royal Bank of Canada in a research report issued on Thursday,Benzinga reports. They currently have a $8.00 target price on the auto parts company’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 92.77% from the stock’s current price.

Other research analysts have also recently issued reports about the company. HC Wainwright reissued a “buy” rating and issued a $22.00 target price on shares of Westport Fuel Systems in a research note on Thursday, August 15th. StockNews.com raised 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 assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $14.13.

Westport Fuel Systems Stock Up 2.5 %

Westport Fuel Systems stock opened at $4.15 on Thursday. The firm has a market capitalization of $71.63 million, a price-to-earnings ratio of -2.76 and a beta of 2.84. The company’s 50 day simple moving average is $4.47 and its 200 day simple moving average is $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 has a fifty-two week low of $3.91 and a fifty-two week high of $7.86.

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

Institutional Trading of Westport Fuel Systems

Institutional investors have recently modified their holdings of the company. US Bancorp DE grew its holdings in shares of 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 in the last quarter. Grace & White Inc. NY boosted its position in Westport Fuel Systems by 19.0% during the 3rd quarter. Grace & White Inc. NY now owns 744,182 shares of the auto parts company’s stock worth $3,416,000 after acquiring an additional 118,860 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of Westport Fuel Systems during the 2nd quarter worth approximately $67,000. 21.30% of the stock is currently owned by 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.