Wall Street brokerages expect that Westport Fuel Systems Inc. (NASDAQ:WPRT) (TSE:WPRT) will announce sales of $69.41 million for the current quarter, according to Zacks. Two analysts have provided estimates for Westport Fuel Systems' earnings. The highest sales estimate is $69.70 million and the lowest is $69.12 million. Westport Fuel Systems reported sales of $74.30 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 6.6%. The company is scheduled to issue its next quarterly earnings results after the market closes on Monday, March 15th.
According to Zacks, analysts expect that Westport Fuel Systems will report full-year sales of $238.01 million for the current fiscal year, with estimates ranging from $237.72 million to $238.30 million. For the next year, analysts expect that the company will report sales of $352.32 million, with estimates ranging from $350.80 million to $353.83 million. Zacks' sales averages are an average based on a survey of analysts that that provide coverage for Westport Fuel Systems.
A number of equities analysts have weighed in on WPRT shares. Lake Street Capital boosted their target price on shares of Westport Fuel Systems from $4.00 to $13.00 and gave the stock a "buy" rating in a research note on Friday, January 22nd. Oppenheimer started coverage on shares of Westport Fuel Systems in a research note on Thursday, January 21st. They issued a "buy" rating and a $10.00 target price for the company.
Shares of NASDAQ WPRT opened at $9.53 on Friday. Westport Fuel Systems has a 1-year low of $0.70 and a 1-year high of $12.95. The company has a market cap of $1.31 billion, a PE ratio of -190.56 and a beta of 1.76. The company has a current ratio of 1.32, a quick ratio of 0.84 and a debt-to-equity ratio of 0.43. The company has a 50-day moving average of $9.30 and a two-hundred day moving average of $4.72.
Several institutional investors and hedge funds have recently bought and sold shares of WPRT. AWM Investment Company Inc. raised its stake in shares of Westport Fuel Systems by 208.7% during the third quarter. AWM Investment Company Inc. now owns 3,082,047 shares of the auto parts company's stock worth $5,024,000 after buying an additional 2,083,635 shares during the last quarter. Pembroke Management LTD raised its stake in shares of Westport Fuel Systems by 17.6% during the fourth quarter. Pembroke Management LTD now owns 5,638,040 shares of the auto parts company's stock worth $38,170,000 after buying an additional 842,023 shares during the last quarter. Manatuck Hill Partners LLC bought a new stake in shares of Westport Fuel Systems during the third quarter worth approximately $996,000. Heartland Advisors Inc. raised its stake in shares of Westport Fuel Systems by 66.7% during the fourth quarter. Heartland Advisors Inc. now owns 1,000,000 shares of the auto parts company's stock worth $5,330,000 after buying an additional 400,000 shares during the last quarter. Finally, Voloridge Investment Management LLC acquired a new position in Westport Fuel Systems during the fourth quarter valued at approximately $1,186,000. 18.42% of the stock is owned by institutional investors and hedge funds.
Westport Fuel Systems Company Profile
Westport Fuel Systems Inc engineers, manufactures, and supplies alternative fuel systems and components for use in transportation applications worldwide. It operates through Transportation and Cummins Westport Inc (CWI) Joint Venture segments. The company offers alternative fuel systems and components, which include 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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