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

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT)‘s stock had its “sector perform” rating restated by equities researchers 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 price target indicates a potential upside of 92.77% from the company’s current price.

Several other research analysts also recently commented on the company. HC Wainwright reiterated a “buy” rating and set a $22.00 target price on shares of Westport Fuel Systems in a research note on Thursday, August 15th. StockNews.com raised shares of Westport Fuel Systems from a “sell” rating to a “hold” rating in a research report on Wednesday, August 14th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Westport Fuel Systems currently has a consensus rating of “Hold” and an average target price of $14.13.

Westport Fuel Systems Stock Performance

NASDAQ WPRT opened at $4.15 on Thursday. The firm has a market capitalization of $71.63 million, a P/E ratio of -2.76 and a beta of 2.84. 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 firm’s fifty day moving average price is $4.47 and its two-hundred day moving average price is $5.37. Westport Fuel Systems has a 1 year low of $3.91 and a 1 year high of $7.86.

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) last issued its earnings results on Tuesday, November 12th. The auto parts company reported ($0.22) earnings per share (EPS) for the quarter, beating 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 business had revenue of $66.25 million during the quarter, compared to the consensus estimate of $66.88 million. During the same period last year, the business posted ($0.68) EPS. As a group, research analysts anticipate that Westport Fuel Systems will post -1.89 EPS for the current year.

Institutional Trading of Westport Fuel Systems

Several hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC acquired a new position in Westport Fuel Systems in the 2nd quarter valued at $67,000. US Bancorp DE boosted its position in shares of Westport Fuel Systems by 170.7% in the third quarter. US Bancorp DE now owns 188,349 shares of the auto parts company’s stock valued at $865,000 after acquiring an additional 118,780 shares during the period. Finally, Grace & White Inc. NY boosted its position in shares of Westport Fuel Systems by 5.2% in the second quarter. Grace & White Inc. NY now owns 625,322 shares of the auto parts company’s stock valued at $3,483,000 after acquiring an additional 30,740 shares during the period. 21.30% of the stock is owned by institutional investors and hedge funds.

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.