Westport Fuel Systems (NASDAQ:WPRT) Given Buy Rating at HC Wainwright

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT)‘s stock had its “buy” rating reaffirmed by stock analysts at HC Wainwright in a report issued on Friday,Benzinga reports. They currently have a $22.00 price objective on the auto parts company’s stock. HC Wainwright’s price objective would suggest a potential upside of 430.12% from the stock’s current price.

Several other brokerages have also recently commented on WPRT. Royal Bank of Canada restated a “sector perform” rating and set a $8.00 target price on shares of Westport Fuel Systems in a report on Thursday. StockNews.com raised shares of Westport Fuel Systems from a “sell” rating to a “hold” rating in a report on Wednesday, August 14th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $14.13.

Westport Fuel Systems Price Performance

NASDAQ:WPRT opened at $4.15 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.60 and a debt-to-equity ratio of 0.16. The firm has a market cap of $71.65 million, a PE ratio of -2.79 and a beta of 2.84. Westport Fuel Systems has a 12 month low of $3.91 and a 12 month high of $7.86. The company’s 50-day moving average price is $4.44 and its two-hundred day moving average price is $5.36.

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) last announced its earnings results on Tuesday, November 12th. The auto parts company reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.41) by $0.19. The business had revenue of $66.25 million for the quarter, compared to the consensus estimate of $66.88 million. Westport Fuel Systems had a negative return on equity of 25.57% and a negative net margin of 8.01%. During the same period in the previous year, the business earned ($0.68) EPS. On average, equities analysts anticipate that Westport Fuel Systems will post -1.89 EPS for the current fiscal year.

Hedge Funds Weigh In On Westport Fuel Systems

Several hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC bought a new stake in Westport Fuel Systems during the 2nd quarter worth about $67,000. US Bancorp DE grew its position in shares of Westport Fuel Systems by 170.7% during the 3rd quarter. US Bancorp DE now owns 188,349 shares of the auto parts company’s stock worth $865,000 after buying an additional 118,780 shares during the period. Finally, Grace & White Inc. NY raised its stake in shares of Westport Fuel Systems by 19.0% during the third quarter. Grace & White Inc. NY now owns 744,182 shares of the auto parts company’s stock worth $3,416,000 after buying an additional 118,860 shares during the last quarter. Institutional investors own 21.30% of the company’s stock.

About Westport Fuel Systems

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.