Westport Fuel Systems (NASDAQ:WPRT) Raised to Buy at ValuEngine

ValuEngine upgraded shares of Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) from a hold rating to a buy rating in a research report released on Saturday, ValuEngine reports.

WPRT has been the subject of several other reports. Cowen set a $3.00 price objective on shares of Westport Fuel Systems and gave the stock a hold rating in a research note on Friday, May 10th. Zacks Investment Research raised shares of Westport Fuel Systems from a hold rating to a buy rating and set a $2.75 price objective for the company in a research note on Monday, May 27th. Lake Street Capital raised shares of Westport Fuel Systems from a hold rating to a buy rating and set a $5.00 price objective for the company in a research note on Friday, May 10th. Finally, BidaskClub raised shares of Westport Fuel Systems from a hold rating to a buy rating in a research note on Wednesday, August 7th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of $4.44.

NASDAQ WPRT opened at $2.86 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.52 and a quick ratio of 1.09. The stock’s fifty day moving average price is $2.90. The stock has a market capitalization of $389.47 million, a price-to-earnings ratio of -9.23 and a beta of 1.67. Westport Fuel Systems has a 52 week low of $1.17 and a 52 week high of $3.77.

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) last posted its quarterly earnings data on Thursday, August 8th. The auto parts company reported ($0.02) EPS for the quarter, hitting the consensus estimate of ($0.02). The company had revenue of $82.40 million during the quarter, compared to analyst estimates of $73.60 million. Westport Fuel Systems had a negative net margin of 6.36% and a negative return on equity of 30.13%. Westport Fuel Systems’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.04) earnings per share. As a group, research analysts anticipate that Westport Fuel Systems will post -0.09 EPS for the current fiscal year.

Large investors have recently added to or reduced their stakes in the company. Acadian Asset Management LLC bought a new stake in shares of Westport Fuel Systems during the second quarter worth $26,000. Stonehearth Capital Management LLC bought a new stake in shares of Westport Fuel Systems during the second quarter worth $28,000. Two Sigma Investments LP bought a new stake in shares of Westport Fuel Systems during the fourth quarter worth $59,000. Ardsley Advisory Partners LP bought a new stake in shares of Westport Fuel Systems during the second quarter worth $272,000. Finally, Oppenheimer & Co. Inc. lifted its position in shares of Westport Fuel Systems by 58.1% during the first quarter. Oppenheimer & Co. Inc. now owns 141,200 shares of the auto parts company’s stock worth $220,000 after purchasing an additional 51,900 shares during the last quarter. Institutional investors and hedge funds own 20.72% of the company’s stock.

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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