Cowen and Company restated their hold rating on shares of Westport Fuel Systems Inc (NASDAQ:WPRT) (TSE:WPT) in a report published on Friday morning. They currently have a $1.50 price target on the auto parts company’s stock.
A number of other analysts have also issued reports on WPRT. Zacks Investment Research upgraded Westport Fuel Systems from a hold rating to a buy rating and set a $2.25 target price for the company in a report on Thursday, July 13th. ValuEngine upgraded Westport Fuel Systems from a sell rating to a hold rating in a report on Tuesday, June 27th. HC Wainwright reiterated a buy rating and set a $5.00 price objective on shares of Westport Fuel Systems in a report on Tuesday, March 28th. Finally, S&P Equity Research cut their price objective on Westport Fuel Systems from $1.00 to $0.88 in a report on Friday, March 24th.
Westport Fuel Systems (WPRT) traded up 0.318% during trading on Friday, hitting $1.575. The stock had a trading volume of 758,133 shares. Westport Fuel Systems has a 1-year low of $0.82 and a 1-year high of $2.65. The stock’s market cap is $173.75 million. The firm’s 50-day moving average price is $1.81 and its 200-day moving average price is $1.31.
Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPT) last released its earnings results on Thursday, May 11th. The auto parts company reported ($0.12) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.15) by $0.03. The company had revenue of $60 million during the quarter, compared to analyst estimates of $77.71 million. Westport Fuel Systems had a negative return on equity of 81.28% and a negative net margin of 32.70%. The company’s revenue was up 150.0% compared to the same quarter last year. On average, equities research analysts predict that Westport Fuel Systems will post ($0.51) earnings per share for the current fiscal year.
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Several hedge funds have recently made changes to their positions in the company. KCG Holdings Inc. raised its stake in shares of Westport Fuel Systems by 313.2% in the first quarter. KCG Holdings Inc. now owns 127,134 shares of the auto parts company’s stock valued at $122,000 after buying an additional 96,365 shares in the last quarter. Royce & Associates LP raised its stake in shares of Westport Fuel Systems by 1.0% in the first quarter. Royce & Associates LP now owns 5,391,983 shares of the auto parts company’s stock valued at $5,176,000 after buying an additional 52,500 shares in the last quarter. US Bancorp DE raised its stake in shares of Westport Fuel Systems by 62.7% in the first quarter. US Bancorp DE now owns 250,200 shares of the auto parts company’s stock valued at $240,000 after buying an additional 96,401 shares in the last quarter. Grace & White Inc. NY raised its stake in shares of Westport Fuel Systems by 14.0% in the first quarter. Grace & White Inc. NY now owns 2,091,080 shares of the auto parts company’s stock valued at $2,007,000 after buying an additional 256,129 shares in the last quarter. Finally, Wells Fargo & Company MN raised its stake in shares of Westport Fuel Systems by 496.2% in the first quarter. Wells Fargo & Company MN now owns 108,054 shares of the auto parts company’s stock valued at $103,000 after buying an additional 89,931 shares in the last quarter. Institutional investors and hedge funds own 11.38% of the company’s stock.
Westport Fuel Systems Company Profile
Westport Fuel Systems Inc (Westport), 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.
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