HC Wainwright assumed coverage on shares of Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) in a research report report published on Thursday, September 20th, Marketbeat.com reports. The brokerage issued a buy rating and a $6.00 target price on the auto parts company’s stock.
A number of other equities analysts also recently issued reports on the company. BidaskClub downgraded Westport Fuel Systems from a hold rating to a sell rating in a research note on Tuesday, June 5th. Zacks Investment Research downgraded Westport Fuel Systems from a buy rating to a hold rating in a research note on Friday, June 1st. Finally, Lake Street Capital raised their price target on Westport Fuel Systems from $5.00 to $6.00 and gave the stock a buy rating in a research note on Thursday, August 30th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $4.42.
Shares of Westport Fuel Systems stock traded down $0.10 during midday trading on Thursday, hitting $2.82. The company had a trading volume of 647,349 shares, compared to its average volume of 674,535. The company has a quick ratio of 1.14, a current ratio of 1.52 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $395.19 million, a P/E ratio of -6.41 and a beta of 2.27. Westport Fuel Systems has a 52-week low of $2.10 and a 52-week high of $4.33.
Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) last posted its quarterly earnings results on Thursday, August 9th. The auto parts company reported ($0.04) earnings per share for the quarter, hitting the consensus estimate of ($0.04). Westport Fuel Systems had a negative return on equity of 40.52% and a negative net margin of 17.94%. The company had revenue of $80.49 million for the quarter, compared to the consensus estimate of $64.50 million. As a group, equities analysts expect that Westport Fuel Systems will post -0.24 EPS for the current year.
Institutional investors have recently made changes to their positions in the stock. Manatuck Hill Partners LLC raised its holdings in Westport Fuel Systems by 143.0% during the second quarter. Manatuck Hill Partners LLC now owns 2,386,362 shares of the auto parts company’s stock valued at $6,037,000 after acquiring an additional 1,404,462 shares during the period. Paradigm Capital Management Inc. NY raised its holdings in Westport Fuel Systems by 229.2% during the second quarter. Paradigm Capital Management Inc. NY now owns 657,530 shares of the auto parts company’s stock valued at $1,663,000 after acquiring an additional 457,780 shares during the period. Cortina Asset Management LLC raised its holdings in Westport Fuel Systems by 20.6% during the second quarter. Cortina Asset Management LLC now owns 1,928,576 shares of the auto parts company’s stock valued at $4,879,000 after acquiring an additional 330,047 shares during the period. Ardsley Advisory Partners raised its holdings in Westport Fuel Systems by 42.9% during the second quarter. Ardsley Advisory Partners now owns 500,000 shares of the auto parts company’s stock valued at $1,265,000 after acquiring an additional 150,000 shares during the period. Finally, Granite Investment Partners LLC bought a new stake in Westport Fuel Systems during the second quarter valued at about $342,000. 22.51% of the stock is currently owned by institutional investors.
Westport Fuel Systems Company Profile
Westport Fuel Systems Inc engineers, manufactures, and supplies alternative fuel systems and components for the transportation and industrial markets worldwide. It operates through Transportation and Cummins Westport Inc Joint Venture segments. The company designs, manufactures, and sells compressed natural gas (CNG) and liquid petroleum gas (LPG) components and systems, such as pressure regulators, injectors, electronic control units, valves, and filters, as well as bi-fuel, mono-fuel, and dual-fuel LPG and CNG conversion kits for passenger cars, light-duty trucks, and medium-duty vehicles, including original engine manufacture (OEM), delayed OEM, and aftermarket segments.
See Also: Intrinsic Value
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