Westport Fuel Systems (NASDAQ:WPRT) Receives “Buy” Rating from HC Wainwright

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT)‘s stock had its “buy” rating restated by investment analysts at HC Wainwright in a research note issued to investors on Friday,Benzinga reports. They presently have a $22.00 target price on the auto parts company’s stock. HC Wainwright’s target price indicates a potential upside of 435.28% from the company’s previous close.

A number of other equities analysts have also recently commented on the stock. Royal Bank of Canada reissued a “sector perform” rating and issued a $8.00 price target on shares of Westport Fuel Systems in a research note on Thursday. StockNews.com upgraded shares of Westport Fuel Systems from a “sell” rating to a “hold” rating in a 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. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $14.13.

Westport Fuel Systems Trading Up 1.5 %

Shares of WPRT stock traded up $0.06 during trading hours on Friday, hitting $4.11. 55,473 shares of the company’s stock traded hands, compared to its average volume of 44,800. The stock’s 50 day simple moving average is $4.47 and its 200 day simple moving average is $5.37. 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 stock has a market cap of $70.94 million, a PE ratio of -2.76 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.

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) last released its quarterly 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. The business had revenue of $66.25 million during 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 quarter in the previous year, the business earned ($0.68) EPS. On average, sell-side analysts anticipate that Westport Fuel Systems will post -1.89 EPS for the current year.

Institutional Investors Weigh In On Westport Fuel Systems

Several large investors have recently added to or reduced their stakes in WPRT. Renaissance Technologies LLC purchased a new stake in Westport Fuel Systems during the 2nd quarter worth approximately $67,000. Grace & White Inc. NY boosted its holdings in Westport Fuel Systems by 5.2% in the 2nd 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 raised its stake in Westport Fuel Systems by 170.7% in the 3rd quarter. US Bancorp DE now owns 188,349 shares of the auto parts company’s stock valued at $865,000 after purchasing an additional 118,780 shares during the last quarter. 21.30% of the stock is owned by hedge funds and other institutional investors.

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.