Westport Fuel Systems (NASDAQ:WPRT) Given New $1.75 Price Target at Royal Bank Of Canada

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) had its price objective lowered by Royal Bank Of Canada from $2.00 to $1.75 in a research note released on Monday, MarketBeat reports. The brokerage currently has a sector perform rating on the auto parts company’s stock.

WPRT has been the topic of several other reports. Zacks Research cut shares of Westport Fuel Systems from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 16th. Weiss Ratings restated a “sell (e+)” rating on shares of Westport Fuel Systems in a report on Monday, April 20th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $4.38.

Westport Fuel Systems Price Performance

WPRT opened at $1.97 on Monday. Westport Fuel Systems has a one year low of $1.54 and a one year high of $4.15. The company’s 50 day simple moving average is $1.99 and its 200-day simple moving average is $1.92. The stock has a market capitalization of $34.24 million, a P/E ratio of -0.55 and a beta of 2.14.

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) last released its quarterly earnings results on Thursday, April 23rd. The auto parts company reported ($0.52) EPS for the quarter, missing the consensus estimate of ($0.47) by ($0.05). Westport Fuel Systems had a negative net margin of 37.73% and a negative return on equity of 27.03%. The company had revenue of $1.16 million for the quarter, compared to the consensus estimate of $1.13 million. As a group, analysts anticipate that Westport Fuel Systems will post -1.18 EPS for the current year.

Hedge Funds Weigh In On Westport Fuel Systems

Several large investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. raised its holdings in Westport Fuel Systems by 23.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 38,753 shares of the auto parts company’s stock worth $61,000 after purchasing an additional 7,401 shares during the period. XTX Topco Ltd acquired a new stake in Westport Fuel Systems in the fourth quarter worth $31,000. Grace & White Inc. NY raised its holdings in Westport Fuel Systems by 11.0% in the fourth quarter. Grace & White Inc. NY now owns 1,160,087 shares of the auto parts company’s stock worth $1,821,000 after purchasing an additional 114,787 shares during the period. Finally, Royce & Associates LP acquired a new stake in Westport Fuel Systems in the fourth quarter worth $357,000. 21.30% of the stock is currently owned by institutional investors and hedge funds.

Westport Fuel Systems Company Profile

Westport Fuel Systems Inc is a Canadian-based company that designs, engineers and manufactures alternative fuel systems and components for transportation and industrial applications. Specializing in natural gas, propane and hydrogen technologies, the company develops complete fuel delivery systems, high-pressure direct injection solutions and fuel storage modules tailored for light-, medium- and heavy-duty vehicles. Its platforms are designed to reduce emissions and lower operating costs for original equipment manufacturers (OEMs) and fleet operators worldwide.

The company’s product portfolio includes compressed natural gas (CNG) and liquefied natural gas (LNG) fuel systems, electronic controls, injectors, pressure regulators and specialized fuel tanks.