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 - Free Report) TSE: WPRT had its price target reduced by Royal Bank Of Canada from $4.00 to $3.00 in a report released on Wednesday morning, Marketbeat.com reports. They currently have a sector perform rating on the auto parts company's stock.

A number of other equities analysts have also recently weighed in on WPRT. Wall Street Zen started coverage on Westport Fuel Systems in a research note on Friday, May 16th. They issued a "hold" rating on the stock. HC Wainwright reiterated a "buy" rating and issued a $7.00 target price on shares of Westport Fuel Systems in a report on Wednesday, August 13th.

Westport Fuel Systems Price Performance

NASDAQ:WPRT traded up $0.11 during trading hours on Wednesday, reaching $2.98. 13,708 shares of the company's stock were exchanged, compared to its average volume of 31,469. The company has a quick ratio of 1.41, a current ratio of 1.43 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $51.70 million, a P/E ratio of -1.02 and a beta of 2.88. Westport Fuel Systems has a 12 month low of $2.50 and a 12 month high of $6.20. The business's 50-day simple moving average is $3.38 and its two-hundred day simple moving average is $3.42.

Westport Fuel Systems (NASDAQ:WPRT - Get Free Report) TSE: WPRT last released its quarterly earnings data on Monday, August 11th. The auto parts company reported ($0.29) earnings per share for the quarter, hitting the consensus estimate of ($0.29). The business had revenue of $12.50 million during the quarter, compared to analyst estimates of $75.49 million. Westport Fuel Systems had a negative return on equity of 16.12% and a negative net margin of 16.85%. Sell-side analysts expect that Westport Fuel Systems will post -1.69 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Parallel Advisors LLC purchased a new position in Westport Fuel Systems during the 1st quarter valued at about $40,000. Virtu Financial LLC acquired a new stake in shares of Westport Fuel Systems during the first quarter worth approximately $41,000. TD Waterhouse Canada Inc. grew its position 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 valued at $57,000 after purchasing an additional 15,715 shares in the last quarter. Millennium Management LLC acquired a new position in Westport Fuel Systems in the 4th quarter valued at approximately $149,000. Finally, Wealthquest Corp purchased a new stake in Westport Fuel Systems in the 1st quarter worth approximately $925,000. Hedge funds and other institutional investors own 21.30% of the company's stock.

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.