Westport Fuel Systems (WPRT) Upgraded at BidaskClub

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) was upgraded by equities researchers at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued on Saturday.

Other research analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of Westport Fuel Systems from a “buy” rating to a “hold” rating in a research report on Monday, April 2nd. Craig Hallum set a $5.00 target price on shares of Westport Fuel Systems and gave the company a “buy” rating in a research report on Thursday, December 28th. Finally, Cowen set a $3.00 target price on shares of Westport Fuel Systems and gave the company a “hold” rating in a research report on Friday, March 23rd. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $3.86.

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Westport Fuel Systems stock opened at $2.27 on Friday. Westport Fuel Systems has a twelve month low of $0.94 and a twelve month high of $4.33. The company has a market cap of $298.01, a PE ratio of -5.16 and a beta of 1.89. The company has a quick ratio of 1.25, a current ratio of 1.67 and a debt-to-equity ratio of 0.38.

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) last released its earnings results on Friday, March 23rd. The auto parts company reported ($0.14) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.13) by ($0.01). Westport Fuel Systems had a negative net margin of 4.08% and a negative return on equity of 50.05%. The company had revenue of $64.20 million for the quarter, compared to the consensus estimate of $54.04 million. During the same period in the prior year, the company earned ($0.43) earnings per share. The firm’s revenue was up 6.8% on a year-over-year basis. equities analysts expect that Westport Fuel Systems will post -0.16 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WPRT. Hood River Capital Management LLC boosted its holdings in Westport Fuel Systems by 109.6% in the 4th quarter. Hood River Capital Management LLC now owns 5,087,680 shares of the auto parts company’s stock worth $19,130,000 after buying an additional 2,660,646 shares during the period. Cortina Asset Management LLC bought a new position in Westport Fuel Systems in the 4th quarter worth approximately $6,332,000. Renaissance Technologies LLC boosted its holdings in Westport Fuel Systems by 478.2% in the 4th quarter. Renaissance Technologies LLC now owns 545,132 shares of the auto parts company’s stock worth $2,050,000 after buying an additional 450,845 shares during the period. Royce & Associates LP boosted its holdings in Westport Fuel Systems by 6.4% in the 4th quarter. Royce & Associates LP now owns 6,034,983 shares of the auto parts company’s stock worth $22,692,000 after buying an additional 364,000 shares during the period. Finally, Millennium Management LLC boosted its holdings in Westport Fuel Systems by 62.2% in the 4th quarter. Millennium Management LLC now owns 697,201 shares of the auto parts company’s stock worth $2,621,000 after buying an additional 267,346 shares during the period. 20.43% 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.

Analyst Recommendations for Westport Fuel Systems (NASDAQ:WPRT)

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