Royal Bank Of Canada Has Lowered Expectations for Westport Fuel Systems (NASDAQ:WPRT) Stock Price

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) had its price objective lowered by equities research analysts at Royal Bank Of Canada from $1.75 to $1.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “sector perform” rating on the auto parts company’s stock. Royal Bank Of Canada’s target price suggests a potential downside of 46.09% from the stock’s current price.

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Westport Fuel Systems in a report on Friday, July 17th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $1.00.

Westport Fuel Systems Stock Up 1.9%

WPRT traded up $0.04 during trading on Thursday, hitting $1.85. 20,303 shares of the company’s stock were exchanged, compared to its average volume of 451,907. The stock has a market cap of $35.24 million, a P/E ratio of -0.77 and a beta of 2.13. The business’s 50 day moving average is $1.96 and its two-hundred day moving average is $1.98. Westport Fuel Systems has a fifty-two week low of $1.54 and a fifty-two week high of $3.26.

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) last posted its earnings results on Tuesday, August 11th. The auto parts company reported ($0.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.18). The business had revenue of $2.72 million during the quarter, compared to analyst estimates of $2.23 million. Westport Fuel Systems had a negative return on equity of 48.51% and a negative net margin of 493.15%. On average, sell-side analysts forecast that Westport Fuel Systems will post -1.44 earnings per share for the current year.

Institutional Investors Weigh In On Westport Fuel Systems

Several large investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. boosted its stake in Westport Fuel Systems by 23.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 38,753 shares of the auto parts company’s stock worth $61,000 after purchasing an additional 7,401 shares during the period. XTX Topco Ltd purchased a new stake in shares of Westport Fuel Systems in the fourth quarter worth about $31,000. Grace & White Inc. NY boosted its position in shares of Westport Fuel Systems by 11.0% in the fourth quarter. Grace & White Inc. NY now owns 1,160,087 shares of the auto parts company’s stock valued at $1,821,000 after acquiring an additional 114,787 shares during the period. Finally, Royce & Associates LP purchased a new position in Westport Fuel Systems during the fourth quarter valued at approximately $357,000. Hedge funds and other institutional investors own 21.30% of the company’s stock.

Westport Fuel Systems Company Profile

Westport Fuel Systems Inc is a Canadian-based company that designs, engineers and manufactures alternative fuel systems and components for transportation and industrial applications. Specializing in natural gas, propane and hydrogen technologies, the company develops complete fuel delivery systems, high-pressure direct injection solutions and fuel storage modules tailored for light-, medium- and heavy-duty vehicles. Its platforms are designed to reduce emissions and lower operating costs for original equipment manufacturers (OEMs) and fleet operators worldwide.

The company’s product portfolio includes compressed natural gas (CNG) and liquefied natural gas (LNG) fuel systems, electronic controls, injectors, pressure regulators and specialized fuel tanks.