Westport Fuel Systems (WPRT) Stock Rating Upgraded by Lake Street Capital

Lake Street Capital upgraded shares of Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) from a hold rating to a buy rating in a report released on Friday, BenzingaRatingsTable reports. Lake Street Capital currently has $5.00 price target on the auto parts company’s stock.

Separately, HC Wainwright reissued a buy rating and set a $6.00 price objective on shares of Westport Fuel Systems in a report on Wednesday, March 20th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $4.25.

Shares of NASDAQ WPRT opened at $2.34 on Friday. The stock has a market cap of $312.11 million, a P/E ratio of -7.55 and a beta of 2.65. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.16 and a current ratio of 1.60. Westport Fuel Systems has a 1-year low of $1.17 and a 1-year high of $3.77.

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) last announced its quarterly earnings data on Thursday, May 9th. The auto parts company reported ($0.02) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.03. The company had revenue of $73.19 million for the quarter, compared to analysts’ expectations of $67.23 million. Westport Fuel Systems had a negative return on equity of 32.29% and a negative net margin of 7.25%. As a group, equities analysts expect that Westport Fuel Systems will post -0.13 earnings per share for the current year.

A number of institutional investors have recently made changes to their positions in the business. Granite Investment Partners LLC increased its stake in Westport Fuel Systems by 113.5% in the 1st quarter. Granite Investment Partners LLC now owns 435,870 shares of the auto parts company’s stock worth $675,000 after purchasing an additional 231,752 shares during the period. Oppenheimer & Co. Inc. increased its stake in Westport Fuel Systems by 58.1% in the 1st quarter. Oppenheimer & Co. Inc. now owns 141,200 shares of the auto parts company’s stock worth $220,000 after purchasing an additional 51,900 shares during the period. Trellus Management Company LLC increased its stake in Westport Fuel Systems by 23.3% in the 1st quarter. Trellus Management Company LLC now owns 390,000 shares of the auto parts company’s stock worth $605,000 after purchasing an additional 73,640 shares during the period. Grace & White Inc. NY increased its stake in Westport Fuel Systems by 5.6% in the 1st quarter. Grace & White Inc. NY now owns 2,079,204 shares of the auto parts company’s stock worth $3,223,000 after purchasing an additional 110,800 shares during the period. Finally, Pembroke Management LTD increased its stake in Westport Fuel Systems by 20.4% in the 1st quarter. Pembroke Management LTD now owns 5,849,500 shares of the auto parts company’s stock worth $12,167,000 after purchasing an additional 989,800 shares during the period. 26.17% of the stock is currently owned by institutional investors and hedge funds.

Westport Fuel Systems Company Profile

Westport Fuel Systems Inc engineers, manufactures, and supplies alternative fuel systems and components for the transportation application worldwide. It operates through Transportation and Cummins Westport Inc (CWI) Joint Venture segments. The company offers fuel systems and components a range of alternative fuels, such as liquefied petroleum gas, compressed natural gas, liquefied natural gas, renewable natural gas, and hydrogen; and independent aftermarket, original equipment manufacturers (OEMs) and delayed OEMs, electronics, current and advanced research and development programs, supply chain, and product planning activities.

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