Westport Fuel Systems Inc (NASDAQ:WPRT) Receives $4.19 Average Price Target from Analysts

Westport Fuel Systems Inc (NASDAQ:WPRT) (TSE:WPRT) has earned an average rating of “Buy” from the six analysts that are presently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $4.19.

A number of analysts have issued reports on WPRT shares. BidaskClub downgraded Westport Fuel Systems from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Zacks Investment Research raised Westport Fuel Systems from a “hold” rating to a “buy” rating and set a $2.75 target price for the company in a research note on Monday, May 27th. ValuEngine raised Westport Fuel Systems from a “sell” rating to a “hold” rating in a research note on Monday, May 13th. Lake Street Capital raised Westport Fuel Systems from a “hold” rating to a “buy” rating and set a $5.00 target price for the company in a research note on Friday, May 10th. Finally, Cowen set a $3.00 target price on Westport Fuel Systems and gave the stock a “hold” rating in a research note on Friday, May 10th.

Shares of WPRT traded up $0.03 during midday trading on Friday, reaching $2.87. The company had a trading volume of 433,050 shares, compared to its average volume of 513,966. Westport Fuel Systems has a 1-year low of $1.17 and a 1-year high of $3.77. The company has a market capitalization of $396.14 million, a PE ratio of -9.26 and a beta of 1.67. The business has a 50 day simple moving average of $2.82. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.09 and a current ratio of 1.52.

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) last issued its earnings results on Thursday, May 9th. The auto parts company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.03. Westport Fuel Systems had a negative return on equity of 33.07% and a negative net margin of 7.25%. The business had revenue of $73.19 million during the quarter, compared to the consensus estimate of $67.23 million. On average, sell-side analysts predict that Westport Fuel Systems will post -0.09 EPS for the current year.

Several large investors have recently modified their holdings of the stock. Pembroke Management LTD increased its position in shares of Westport Fuel Systems by 20.4% during 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 last quarter. Grace & White Inc. NY increased its position in shares of Westport Fuel Systems by 5.6% during 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 last quarter. Deutsche Bank AG increased its position in shares of Westport Fuel Systems by 44,879.7% during the 4th quarter. Deutsche Bank AG now owns 449,797 shares of the auto parts company’s stock worth $598,000 after purchasing an additional 448,797 shares during the last quarter. Granite Investment Partners LLC increased its position in shares of Westport Fuel Systems by 113.5% during 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 last quarter. Finally, Millennium Management LLC increased its position in shares of Westport Fuel Systems by 179.4% during the 4th quarter. Millennium Management LLC now owns 413,835 shares of the auto parts company’s stock worth $550,000 after purchasing an additional 265,725 shares during the last quarter. 20.71% of the stock is owned by hedge funds and other institutional investors.

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.

Further Reading: What is a front-end load?

Receive News & Ratings for Westport Fuel Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Westport Fuel Systems and related companies with MarketBeat.com's FREE daily email newsletter.