Westport Fuel Systems (WPRT) Posts Quarterly Earnings Results, Misses Estimates By $0.04 EPS

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) released its quarterly earnings results on Thursday. The auto parts company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.04), Briefing.com reports. The firm had revenue of $65.50 million during the quarter, compared to the consensus estimate of $59.52 million. Westport Fuel Systems had a negative return on equity of 40.52% and a negative net margin of 17.94%. The company’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.15) EPS.

NASDAQ:WPRT traded down $0.26 during midday trading on Friday, hitting $2.53. The company had a trading volume of 22,914 shares, compared to its average volume of 449,064. Westport Fuel Systems has a 52-week low of $2.10 and a 52-week high of $4.33. The firm has a market capitalization of $333.83 million, a PE ratio of -5.82 and a beta of 2.38. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.14 and a current ratio of 1.52.

Large investors have recently made changes to their positions in the stock. Oppenheimer & Co. Inc. purchased a new position in Westport Fuel Systems in the second quarter worth $151,000. Granite Investment Partners LLC purchased a new stake in shares of Westport Fuel Systems during the second quarter worth about $342,000. Trellus Management Company LLC boosted its holdings in shares of Westport Fuel Systems by 18.8% during the second quarter. Trellus Management Company LLC now owns 190,000 shares of the auto parts company’s stock worth $481,000 after purchasing an additional 30,000 shares during the period. Ardsley Advisory Partners boosted its holdings in shares of Westport Fuel Systems by 42.9% during the second quarter. Ardsley Advisory Partners now owns 500,000 shares of the auto parts company’s stock worth $1,265,000 after purchasing an additional 150,000 shares during the period. Finally, Paradigm Capital Management Inc. NY boosted its holdings in shares of Westport Fuel Systems by 229.2% during the second quarter. Paradigm Capital Management Inc. NY now owns 657,530 shares of the auto parts company’s stock worth $1,663,000 after purchasing an additional 457,780 shares during the period. Institutional investors own 23.46% of the company’s stock.

Several research analysts have recently weighed in on the stock. BidaskClub cut shares of Westport Fuel Systems from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 24th. HC Wainwright reaffirmed a “buy” rating and issued a $6.00 price target on shares of Westport Fuel Systems in a report on Thursday, October 11th. Zacks Investment Research raised shares of Westport Fuel Systems from a “sell” rating to a “hold” rating in a report on Thursday, September 27th. Finally, Lake Street Capital upped their price target on shares of Westport Fuel Systems from $5.00 to $6.00 and gave the stock a “buy” rating in a report on Thursday, August 30th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $4.42.

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Westport Fuel Systems Company Profile

Westport Fuel Systems Inc engineers, manufactures, and supplies alternative fuel systems and components for the transportation and industrial markets worldwide. It operates through Transportation and Cummins Westport Inc Joint Venture segments. The company designs, manufactures, and sells compressed natural gas (CNG) and liquid petroleum gas (LPG) components and systems, such as pressure regulators, injectors, electronic control units, valves, and filters, as well as bi-fuel, mono-fuel, and dual-fuel LPG and CNG conversion kits for passenger cars, light-duty trucks, and medium-duty vehicles, including original engine manufacture (OEM), delayed OEM, and aftermarket segments.

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Earnings History for Westport Fuel Systems (NASDAQ:WPRT)

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