Zacks Investment Research Lowers Westport Fuel Systems (WPRT) to Hold

Zacks Investment Research lowered shares of Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) from a buy rating to a hold rating in a research report sent to investors on Friday, Zacks.com reports.

According to Zacks, “In first-quarter 2019, Westport Fuel’s net loss from continuing operations was narrower than the Zacks Consensus Estimate. Further, revenues improved during the quarter. This upside was driven by increased aftermarket revenue generation and Westport HPDI 2.0 shipments. The company is well positioned to meet the growing demand for fuel systems and components. Westport HPDI 2.0, which offers an environment-friendly robust performance of heavy-duty trucks, is likely to increase the market share of the company. Further, the company regularly makes acquisitions and divestments to develop technologies and edge on non-core businesses.”

WPRT has been the subject of a number of other reports. Lake Street Capital upgraded Westport Fuel Systems from a hold rating to a buy rating and set a $5.00 target price for the company in a research report on Friday, May 10th. Cowen set a $3.00 price target on Westport Fuel Systems and gave the company a hold rating in a report on Friday, May 10th. HC Wainwright reaffirmed a buy rating and issued a $6.00 price target on shares of Westport Fuel Systems in a report on Wednesday, March 20th. BidaskClub raised Westport Fuel Systems from a strong sell rating to a sell rating in a report on Tuesday, May 14th. Finally, ValuEngine raised Westport Fuel Systems from a sell rating to a hold rating in a report on Monday, May 13th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $4.19.

WPRT opened at $2.54 on Friday. The company has a market capitalization of $338.79 million, a price-to-earnings ratio of -8.19 and a beta of 2.65. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.52 and a quick ratio of 1.09. 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 released its earnings results on Thursday, May 9th. The auto parts company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.03. The firm had revenue of $73.19 million during the quarter, compared to the consensus estimate of $67.23 million. Westport Fuel Systems had a negative return on equity of 33.07% and a negative net margin of 7.25%. On average, analysts predict that Westport Fuel Systems will post -0.09 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of WPRT. Two Sigma Investments LP acquired a new stake in Westport Fuel Systems during the 4th quarter valued at $59,000. Prescott Group Capital Management L.L.C. acquired a new stake in Westport Fuel Systems during the 4th quarter valued at $60,000. Two Sigma Securities LLC acquired a new stake in Westport Fuel Systems during the 4th quarter valued at $62,000. Virtu Financial LLC raised its stake in Westport Fuel Systems by 358.6% during the 4th quarter. Virtu Financial LLC now owns 84,334 shares of the auto parts company’s stock valued at $112,000 after purchasing an additional 65,944 shares during the period. Finally, Oppenheimer & Co. Inc. raised its stake in Westport Fuel Systems by 49.1% during the 4th quarter. Oppenheimer & Co. Inc. now owns 89,300 shares of the auto parts company’s stock valued at $118,000 after purchasing an additional 29,400 shares during the period. 20.01% of the stock is currently owned by institutional investors.

About Westport Fuel Systems

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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