Westport Fuel Systems (NASDAQ:WPRT) Receives “Sector Perform” Rating from Royal Bank of Canada

Royal Bank of Canada reissued their sector perform rating on shares of Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) in a research report sent to investors on Thursday,Benzinga reports. They currently have a $8.00 target price on the auto parts company’s stock.

A number of other brokerages have also recently weighed in on WPRT. HC Wainwright reaffirmed a “buy” rating and set a $22.00 price target on shares of Westport Fuel Systems in a research report on Thursday, August 15th. StockNews.com raised shares of Westport Fuel Systems from a “sell” rating to a “hold” rating in a research report on Wednesday, August 14th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $14.13.

Westport Fuel Systems Price Performance

Westport Fuel Systems stock opened at $4.15 on Thursday. Westport Fuel Systems has a 1 year low of $3.91 and a 1 year high of $7.86. The firm has a 50 day moving average price of $4.44 and a 200 day moving average price of $5.36. The company has a market cap of $71.65 million, a price-to-earnings ratio of -2.79 and a beta of 2.84. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.10 and a current ratio of 1.60.

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) last released its earnings results on Tuesday, November 12th. The auto parts company reported ($0.22) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.19. Westport Fuel Systems had a negative net margin of 8.01% and a negative return on equity of 25.57%. The firm had revenue of $66.25 million during the quarter, compared to the consensus estimate of $66.88 million. During the same period in the previous year, the firm earned ($0.68) earnings per share. Sell-side analysts predict that Westport Fuel Systems will post -1.89 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in WPRT. Renaissance Technologies LLC bought a new stake in shares of Westport Fuel Systems in the second quarter worth $67,000. Grace & White Inc. NY increased its stake in shares of Westport Fuel Systems by 5.2% in the second quarter. Grace & White Inc. NY now owns 625,322 shares of the auto parts company’s stock worth $3,483,000 after buying an additional 30,740 shares during the last quarter. Finally, US Bancorp DE increased its stake in shares of Westport Fuel Systems by 170.7% in the third 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 last quarter. 21.30% of the stock is owned by institutional investors and hedge funds.

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.