Westport Fuel Systems (NASDAQ:WPRT) Price Target Lowered to $3.00 at Royal Bank Of Canada

Key Points

• The price target for Westport Fuel Systems has been reduced from $4.00 to $3.00 by analysts at the Royal Bank of Canada, indicating a potential downside from the current share price.
• Westport Fuel Systems' stock dropped by 4.5% during trading, reaching a current price of $3.20, while analysts continue to predict a -1.69 EPS for the year.
• Multiple research firms have differing outlooks on the company's stock, with some issuing a "hold" rating and others maintaining a "buy" rating with a price target as high as $7.00.

Westport Fuel Systems (NASDAQ:WPRT - Get Free Report) TSE: WPRT had its target price decreased by analysts at Royal Bank Of Canada from $4.00 to $3.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a "sector perform" rating on the auto parts company's stock. Royal Bank Of Canada's target price would suggest a potential downside of 6.25% from the company's current price.

A number of other research firms also recently weighed in on WPRT. Wall Street Zen started coverage on shares of Westport Fuel Systems in a research report on Friday, May 16th. They set a "hold" rating for the company. HC Wainwright reissued a "buy" rating and set a $7.00 price target on shares of Westport Fuel Systems in a research report on Wednesday.

Westport Fuel Systems Stock Down 4.5%

NASDAQ:WPRT traded down $0.15 during trading hours on Wednesday, hitting $3.20. The stock had a trading volume of 81,832 shares, compared to its average volume of 30,605. The company has a current ratio of 1.49, a quick ratio of 0.94 and a debt-to-equity ratio of 0.13. Westport Fuel Systems has a 1-year low of $2.50 and a 1-year high of $6.20. The business has a 50 day simple moving average of $3.37 and a two-hundred day simple moving average of $3.46. The company has a market cap of $55.52 million, a PE ratio of -1.09 and a beta of 2.88.

Westport Fuel Systems (NASDAQ:WPRT - Get Free Report) TSE: WPRT last issued its quarterly earnings data on Monday, August 11th. The auto parts company reported ($0.29) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.29). Westport Fuel Systems had a negative net margin of 16.85% and a negative return on equity of 15.19%. The company had revenue of $12.50 million during the quarter, compared to the consensus estimate of $75.49 million. Analysts predict that Westport Fuel Systems will post -1.69 EPS for the current year.

Hedge Funds Weigh In On Westport Fuel Systems

Several large investors have recently added to or reduced their stakes in WPRT. Banque Transatlantique SA bought a new position in Westport Fuel Systems during the first quarter worth $1,371,000. Wealthquest Corp bought a new position in Westport Fuel Systems during the first quarter worth $925,000. Baird Financial Group Inc. lifted its stake in Westport Fuel Systems by 34.6% during the fourth quarter. Baird Financial Group Inc. now owns 916,168 shares of the auto parts company's stock worth $3,280,000 after purchasing an additional 235,610 shares during the last quarter. Millennium Management LLC bought a new position in Westport Fuel Systems during the fourth quarter worth $149,000. Finally, TD Waterhouse Canada Inc. lifted its stake in Westport Fuel Systems by 2,384.7% during the fourth quarter. TD Waterhouse Canada Inc. now owns 16,374 shares of the auto parts company's stock worth $57,000 after purchasing an additional 15,715 shares during the last quarter. 21.30% of the stock is currently owned by institutional investors.

Westport Fuel Systems Company Profile

Westport Fuel Systems Inc engages in the engineering, manufacturing, and supplying alternative fuel systems and components for use in transportation applications in Europe, Asia, North America, South America, and internationally. The company operates through two segments, Original Equipment Manufacturers and Independent Aftermarket.

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