Westport Fuel Systems (NASDAQ:WPRT) Stock Rating Lowered by ValuEngine

ValuEngine downgraded shares of Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) from a buy rating to a hold rating in a research report report published on Friday, September 20th, ValuEngine reports.

WPRT has been the topic of several other research reports. Zacks Investment Research raised shares of Westport Fuel Systems from a hold rating to a buy rating and set a $3.00 price target on the stock in a research report on Friday, August 16th. BidaskClub downgraded shares of Westport Fuel Systems from a buy rating to a hold rating in a report on Thursday, August 15th. Finally, Cowen set a $4.00 target price on shares of Westport Fuel Systems and gave the company a hold rating in a report on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $4.50.

WPRT stock opened at $2.85 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.41 and a debt-to-equity ratio of 0.65. The firm’s 50 day moving average price is $2.78 and its 200-day moving average price is $2.42. Westport Fuel Systems has a one year low of $1.17 and a one year high of $3.27.

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) last released its quarterly earnings results on Thursday, August 8th. The auto parts company reported ($0.02) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.02). The firm had revenue of $82.40 million for the quarter, compared to analyst estimates of $73.60 million. Westport Fuel Systems had a negative net margin of 6.36% and a negative return on equity of 30.62%. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.04) EPS. As a group, research analysts expect that Westport Fuel Systems will post -0.09 earnings per share for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in the company. Paradigm Capital Management Inc. NY lifted its position in shares of Westport Fuel Systems by 0.4% during the 2nd quarter. Paradigm Capital Management Inc. NY now owns 1,168,700 shares of the auto parts company’s stock worth $3,167,000 after purchasing an additional 4,500 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Westport Fuel Systems during the 2nd quarter worth $26,000. Stonehearth Capital Management LLC purchased a new stake in shares of Westport Fuel Systems during the 2nd quarter worth $28,000. A.R.T. Advisors LLC purchased a new stake in shares of Westport Fuel Systems during the 2nd quarter worth $40,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Westport Fuel Systems by 15.6% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 632,885 shares of the auto parts company’s stock worth $1,719,000 after purchasing an additional 85,200 shares during the last quarter. 20.96% of the stock is 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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