StockNews.com Upgrades Westport Fuel Systems (NASDAQ:WPRT) to “Hold”

Westport Fuel Systems (NASDAQ:WPRT – Get Rating) (TSE:WPRT) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Sunday.

Separately, Royal Bank of Canada decreased their price target on Westport Fuel Systems from $2.50 to $1.50 and set a “sector perform” rating on the stock in a research report on Wednesday, March 15th.

Westport Fuel Systems Price Performance

Shares of NASDAQ WPRT opened at $0.76 on Friday. The company has a quick ratio of 1.44, a current ratio of 2.05 and a debt-to-equity ratio of 0.16. Westport Fuel Systems has a 12-month low of $0.66 and a 12-month high of $1.60. The company has a market cap of $131.04 million, a price-to-earnings ratio of -2.54 and a beta of 2.42. The firm’s 50-day simple moving average is $0.86 and its 200 day simple moving average is $0.92.

Westport Fuel Systems (NASDAQ:WPRT – Get Rating) (TSE:WPRT) last posted its earnings results on Monday, March 13th. The auto parts company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.04). The business had revenue of $78.01 million for the quarter, compared to the consensus estimate of $74.59 million. Westport Fuel Systems had a negative return on equity of 23.72% and a negative net margin of 16.39%. On average, research analysts expect that Westport Fuel Systems will post -0.26 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Westport Fuel Systems

Hedge funds and other institutional investors have recently modified their holdings of the company. Advisor Group Holdings Inc. increased its holdings in shares of Westport Fuel Systems by 70.8% during the first quarter. Advisor Group Holdings Inc. now owns 21,226 shares of the auto parts company’s stock valued at $34,000 after acquiring an additional 8,800 shares in the last quarter. Cibc World Market Inc. bought a new stake in Westport Fuel Systems during the first quarter worth $51,000. Captrust Financial Advisors grew its stake in Westport Fuel Systems by 107.6% in the 3rd quarter. Captrust Financial Advisors now owns 34,876 shares of the auto parts company’s stock valued at $30,000 after purchasing an additional 18,076 shares during the period. Envestnet Asset Management Inc. grew its stake in Westport Fuel Systems by 251.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 35,111 shares of the auto parts company’s stock valued at $55,000 after purchasing an additional 25,111 shares during the period. Finally, MGO One Seven LLC grew its stake in Westport Fuel Systems by 25.6% in the 4th quarter. MGO One Seven LLC now owns 54,847 shares of the auto parts company’s stock valued at $42,000 after purchasing an additional 11,178 shares during the period. Institutional investors own 13.70% of the company’s stock.

About Westport Fuel Systems

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Westport Fuel Systems, Inc engages in the business of engineering, manufacturing, and supplying alternative fuel systems and components for transportation applications. It operates through the following segments: Original Equipment Manufacturers (OEM), Independent Aftermarket (IAM), and Corporate. The OEM segment includes designing, manufacturing, and selling alternative fuel systems, components, and electronics including the HPDI 2.0 fuel systems product and engineering services.