Westport Fuel Systems Inc (NASDAQ:WPRT) Given Average Rating of “Buy” by Analysts

Westport Fuel Systems Inc (NASDAQ:WPRT) (TSE:WPRT) has received an average recommendation of “Buy” from the six research firms that are currently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $4.19.

Several analysts have weighed in on the company. Zacks Investment Research raised Westport Fuel Systems from a “hold” rating to a “buy” rating and set a $2.75 target price on the stock in a research note on Friday, May 17th. BidaskClub raised Westport Fuel Systems from a “sell” rating to a “hold” rating in a research note on Monday, May 20th. HC Wainwright reaffirmed a “buy” rating and set a $6.00 target price on shares of Westport Fuel Systems in a research note on Wednesday, March 20th. Lake Street Capital raised Westport Fuel Systems from a “hold” rating to a “buy” rating and set a $5.00 target price on the stock in a research note on Friday, May 10th. Finally, ValuEngine raised Westport Fuel Systems from a “sell” rating to a “hold” rating in a research note on Monday, May 13th.

Shares of NASDAQ WPRT traded down $0.06 during mid-day trading on Friday, hitting $2.59. The company had a trading volume of 3,074 shares, compared to its average volume of 691,578. The company has a market cap of $340.32 million, a price-to-earnings ratio of -8.23 and a beta of 1.77. Westport Fuel Systems has a 12 month low of $1.17 and a 12 month high of $3.77. The company has a current ratio of 1.52, a quick ratio of 1.09 and a debt-to-equity ratio of 0.67.

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) last announced its quarterly earnings results on Thursday, May 9th. The auto parts company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.03. The business had revenue of $73.19 million for the quarter, compared to the consensus estimate of $67.23 million. Westport Fuel Systems had a negative return on equity of 33.07% and a negative net margin of 7.25%. As a group, equities analysts forecast that Westport Fuel Systems will post -0.09 earnings per share for the current fiscal year.

Institutional investors have recently made changes to their positions in the business. RK Capital Management LLC raised its stake in Westport Fuel Systems by 29.2% during the 4th quarter. RK Capital Management LLC now owns 1,284,894 shares of the auto parts company’s stock valued at $1,709,000 after acquiring an additional 290,444 shares in the last quarter. Grace & White Inc. NY raised its stake in Westport Fuel Systems by 5.6% during the 1st quarter. Grace & White Inc. NY now owns 2,079,204 shares of the auto parts company’s stock valued at $3,223,000 after acquiring an additional 110,800 shares in the last quarter. Worth Venture Partners LLC raised its stake in Westport Fuel Systems by 100.0% during the 4th quarter. Worth Venture Partners LLC now owns 200,000 shares of the auto parts company’s stock valued at $265,000 after acquiring an additional 100,000 shares in the last quarter. Oppenheimer & Co. Inc. raised its stake in Westport Fuel Systems by 49.1% during the 4th quarter. Oppenheimer & Co. Inc. now owns 89,300 shares of the auto parts company’s stock valued at $118,000 after acquiring an additional 29,400 shares in the last quarter. Finally, Royce & Associates LP raised its stake in Westport Fuel Systems by 9.4% during the 4th quarter. Royce & Associates LP now owns 7,223,522 shares of the auto parts company’s stock valued at $9,607,000 after acquiring an additional 621,939 shares in the last quarter. 20.86% of the stock is currently owned by hedge funds and other institutional investors.

Westport Fuel Systems Company Profile

Westport Fuel Systems Inc engineers, manufactures, and supplies alternative fuel systems and components for the transportation application worldwide. It operates through Transportation and Cummins Westport Inc (CWI) Joint Venture segments. The company offers fuel systems and components a range of alternative fuels, such as liquefied petroleum gas, compressed natural gas, liquefied natural gas, renewable natural gas, and hydrogen; and independent aftermarket, original equipment manufacturers (OEMs) and delayed OEMs, electronics, current and advanced research and development programs, supply chain, and product planning activities.

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