Cowen Analysts Give Westport Fuel Systems (WPRT) a $3.00 Price Target

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) has been assigned a $3.00 price target by equities research analysts at Cowen in a research report issued to clients and investors on Friday. The firm presently has a “hold” rating on the auto parts company’s stock. Cowen’s price objective would suggest a potential upside of 18.11% from the stock’s current price.

Other research analysts have also recently issued research reports about the company. Craig Hallum set a $5.00 price target on Westport Fuel Systems and gave the stock a “buy” rating in a research note on Friday, December 22nd. BidaskClub raised Westport Fuel Systems from a “sell” rating to a “hold” rating in a research note on Wednesday, December 27th. Zacks Investment Research cut Westport Fuel Systems from a “buy” rating to a “hold” rating in a research note on Thursday, November 30th. Finally, ValuEngine cut Westport Fuel Systems from a “sell” rating to a “strong sell” rating in a research note on Friday, December 1st. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $3.70.

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Westport Fuel Systems (NASDAQ:WPRT) opened at $2.54 on Friday. Westport Fuel Systems has a 52 week low of $0.87 and a 52 week high of $4.33. The stock has a market capitalization of $373.96, a price-to-earnings ratio of -6.35 and a beta of 1.81. The company has a quick ratio of 1.13, a current ratio of 1.62 and a debt-to-equity ratio of 0.22.

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) last released its quarterly earnings results on Friday, March 23rd. The auto parts company reported ($0.14) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.13) by ($0.01). Westport Fuel Systems had a negative return on equity of 64.05% and a negative net margin of 14.85%. The business had revenue of $64.20 million during the quarter, compared to the consensus estimate of $54.04 million. During the same period in the previous year, the company posted ($0.43) EPS. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year.

A number of hedge funds have recently made changes to their positions in the stock. Northern Trust Corp boosted its stake in Westport Fuel Systems by 0.5% during the second quarter. Northern Trust Corp now owns 68,774 shares of the auto parts company’s stock valued at $161,000 after buying an additional 346 shares in the last quarter. Royal Bank of Canada boosted its stake in Westport Fuel Systems by 0.5% during the second quarter. Royal Bank of Canada now owns 72,049 shares of the auto parts company’s stock valued at $169,000 after buying an additional 375 shares in the last quarter. Quad Capital Management Advisors LLC bought a new position in Westport Fuel Systems during the fourth quarter valued at about $113,000. Deutsche Bank AG boosted its stake in Westport Fuel Systems by 35.1% during the fourth quarter. Deutsche Bank AG now owns 121,700 shares of the auto parts company’s stock valued at $457,000 after buying an additional 31,600 shares in the last quarter. Finally, Jane Street Group LLC bought a new position in Westport Fuel Systems during the fourth quarter valued at about $147,000. 20.43% of the stock is owned by institutional investors and hedge funds.

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Westport Fuel Systems Company Profile

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.

Analyst Recommendations for Westport Fuel Systems (NASDAQ:WPRT)

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