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

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) had its target price reduced by Royal Bank of Canada from $8.00 to $4.00 in a research report report published on Tuesday morning, MarketBeat Ratings reports. They currently have a sector perform rating on the auto parts company’s stock.

Westport Fuel Systems Stock Performance

WPRT opened at $3.56 on Tuesday. The firm has a 50 day moving average of $4.15 and a two-hundred day moving average of $4.18. The firm has a market capitalization of $61.53 million, a PE ratio of -2.39 and a beta of 2.93. The company has a current ratio of 1.60, a quick ratio of 1.00 and a debt-to-equity ratio of 0.16. Westport Fuel Systems has a 12-month low of $3.26 and a 12-month high of $6.69.

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

Institutional Investors Weigh In On Westport Fuel Systems

Several hedge funds have recently modified their holdings of WPRT. TD Waterhouse Canada Inc. raised its holdings in Westport Fuel Systems by 2,384.7% in the 4th 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 period. Millennium Management LLC acquired a new position in shares of Westport Fuel Systems during the 4th quarter worth approximately $149,000. Baird Financial Group Inc. lifted its position in shares of 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 valued at $3,280,000 after buying an additional 235,610 shares in the last quarter. Finally, Grace & White Inc. NY grew its stake in Westport Fuel Systems by 40.3% in the 4th quarter. Grace & White Inc. NY now owns 1,043,980 shares of the auto parts company’s stock valued at $3,737,000 after acquiring an additional 299,798 shares during the period. 21.30% of the stock is 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.