Brokerages Set Westport Fuel Systems Inc (WPRT) Price Target at $4.08

Shares of Westport Fuel Systems Inc (NASDAQ:WPRT) (TSE:WPRT) have received an average recommendation of “Hold” from the nine research firms that are presently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $4.08.

Several equities analysts have recently issued reports on WPRT shares. Craig Hallum set a $5.00 price target on Westport Fuel Systems and gave the company a “buy” rating in a research note on Friday, December 22nd. BidaskClub upgraded Westport Fuel Systems from a “sell” rating to a “hold” rating in a research note on Wednesday, December 27th. Finally, Cowen set a $3.00 price target on Westport Fuel Systems and gave the company a “hold” rating in a research note on Friday, March 23rd.

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Shares of WPRT opened at $2.19 on Friday. Westport Fuel Systems has a 52-week low of $0.94 and a 52-week high of $4.33. The company has a current ratio of 1.67, a quick ratio of 1.25 and a debt-to-equity ratio of 0.38.

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) last issued 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 net margin of 4.08% and a negative return on equity of 50.05%. The business had revenue of $64.20 million during the quarter, compared to the consensus estimate of $54.04 million. During the same quarter in the previous year, the business posted ($0.43) EPS. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. equities research analysts predict that Westport Fuel Systems will post -0.12 earnings per share for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Northern Trust Corp lifted its holdings in Westport Fuel Systems by 0.5% during the 2nd quarter. Northern Trust Corp now owns 68,774 shares of the auto parts company’s stock worth $161,000 after buying an additional 346 shares during the period. Royce & Associates LP lifted its holdings in Westport Fuel Systems by 3.8% during the 3rd quarter. Royce & Associates LP now owns 5,670,983 shares of the auto parts company’s stock worth $18,544,000 after buying an additional 206,000 shares during the period. Essex Investment Management Co. LLC lifted its holdings in Westport Fuel Systems by 255.5% during the 4th quarter. Essex Investment Management Co. LLC now owns 84,341 shares of the auto parts company’s stock worth $317,000 after buying an additional 60,616 shares during the period. Hood River Capital Management LLC lifted its holdings in Westport Fuel Systems by 109.6% during 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. Finally, Paradigm Capital Management Inc. NY acquired a new position in Westport Fuel Systems during the 4th quarter worth about $188,000. 20.43% of the stock is currently 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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