Westport Fuel Systems (WPRT) Downgraded to Strong Sell at ValuEngine
ValuEngine lowered shares of Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) from a sell rating to a strong sell rating in a research note released on Friday morning.
Several other research firms also recently weighed in on WPRT. Zacks Investment Research upgraded shares of Westport Fuel Systems from a hold rating to a buy rating and set a $4.25 price target for the company in a research report on Thursday, October 12th. Lake Street Capital upped their price target on shares of Westport Fuel Systems from $3.00 to $5.00 and gave the stock a hold rating in a research report on Thursday, October 5th. Oppenheimer upped their price target on shares of Westport Fuel Systems from $3.00 to $3.50 and gave the stock an outperform rating in a research report on Wednesday, November 15th. CIBC assumed coverage on shares of Westport Fuel Systems in a research report on Thursday, August 17th. They set an outperform rating and a $3.00 price target for the company. Finally, BidaskClub upgraded shares of Westport Fuel Systems from a hold rating to a buy rating in a research report on Thursday, August 17th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $3.38.
Westport Fuel Systems (WPRT) traded down $0.10 on Friday, hitting $2.72. 671,192 shares of the company traded hands, compared to its average volume of 1,178,397. Westport Fuel Systems has a 52-week low of $0.82 and a 52-week high of $4.09. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.62 and a quick ratio of 1.13.
Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) last released its quarterly earnings results on Tuesday, November 14th. The auto parts company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.03. Westport Fuel Systems had a negative net margin of 14.85% and a negative return on equity of 64.05%. The firm had revenue of $60.80 million during the quarter, compared to the consensus estimate of $51.91 million. During the same quarter in the prior year, the firm earned ($0.30) EPS. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. sell-side analysts expect that Westport Fuel Systems will post -0.51 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Royce & Associates LP grew its stake in Westport Fuel Systems by 3.8% during the 3rd quarter. Royce & Associates LP now owns 5,670,983 shares of the auto parts company’s stock valued at $18,544,000 after acquiring an additional 206,000 shares in the last quarter. Pembroke Management LTD purchased a new stake in Westport Fuel Systems during the 3rd quarter valued at about $16,069,000. Hood River Capital Management LLC purchased a new stake in Westport Fuel Systems during the 3rd quarter valued at about $7,936,000. Paradigm Capital Management Inc. NY purchased a new stake in Westport Fuel Systems during the 2nd quarter valued at about $1,176,000. Finally, KCG Holdings Inc. grew its stake in Westport Fuel Systems by 313.2% during the 1st quarter. KCG Holdings Inc. now owns 127,134 shares of the auto parts company’s stock valued at $122,000 after acquiring an additional 96,365 shares in the last quarter. 15.99% of the stock is owned by institutional investors.
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About Westport Fuel Systems
Westport Fuel Systems Inc, formerly Westport Innovations Inc, is a Canada-based provider of low-emission engine and fuel system technologies utilizing gaseous fuels. It operates through the Westport Operations segment. The Westport Operations segment designs, manufactures and sells compressed natural gas, liquefied natural gas, and liquefied petroleum gas components and systems to original equipment manufacturers and to aftermarket customers.
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