Royal Bank Of Canada Cuts Westport Fuel Systems (NASDAQ:WPRT) Price Target to $2.00

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) had its target price reduced by analysts at Royal Bank Of Canada from $3.00 to $2.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “sector perform” rating on the auto parts company’s stock. Royal Bank Of Canada’s price objective would suggest a potential upside of 9.89% from the company’s previous close.

A number of other brokerages have also recently issued reports on WPRT. Weiss Ratings reissued a “sell (e+)” rating on shares of Westport Fuel Systems in a report on Wednesday, October 8th. HC Wainwright reiterated a “buy” rating and issued a $7.00 price target on shares of Westport Fuel Systems in a research report on Wednesday, August 13th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Westport Fuel Systems presently has an average rating of “Hold” and a consensus price target of $6.60.

Westport Fuel Systems Stock Performance

WPRT stock remained flat at $1.82 during midday trading on Wednesday. The company had a trading volume of 1,472 shares, compared to its average volume of 39,222. The firm has a market capitalization of $31.58 million, a price-to-earnings ratio of -0.62 and a beta of 2.96. The company has a quick ratio of 1.41, a current ratio of 1.43 and a debt-to-equity ratio of 0.01. The stock’s 50 day simple moving average is $2.21 and its 200-day simple moving average is $2.82. Westport Fuel Systems has a 52-week low of $1.82 and a 52-week high of $4.81.

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) last released its quarterly earnings data on Monday, November 10th. The auto parts company reported ($0.60) EPS for the quarter, topping analysts’ consensus estimates of ($0.89) by $0.29. Westport Fuel Systems had a negative net margin of 16.85% and a negative return on equity of 16.12%. The company had revenue of $1.62 million during the quarter, compared to the consensus estimate of $1.12 million. On average, equities analysts forecast that Westport Fuel Systems will post -1.69 EPS for the current year.

Institutional Trading of Westport Fuel Systems

Large investors have recently made changes to their positions in the business. Virtu Financial LLC acquired a new stake in shares of Westport Fuel Systems in the first quarter valued at $41,000. Baird Financial Group Inc. increased its position in Westport Fuel Systems by 4.1% in the 1st quarter. Baird Financial Group Inc. now owns 954,186 shares of the auto parts company’s stock valued at $3,540,000 after acquiring an additional 38,018 shares in the last quarter. Wealthquest Corp bought a new position in shares of Westport Fuel Systems in the first quarter worth about $925,000. Finally, Banque Transatlantique SA bought a new position in shares of Westport Fuel Systems in the first quarter worth about $1,371,000. Institutional investors own 21.30% of the company’s stock.

About Westport Fuel Systems

Westport Fuel Systems Inc engages in the engineering, manufacturing, and supplying alternative fuel systems and components for use in transportation applications in Europe, Asia, North America, South America, and internationally. The company operates through two segments, Original Equipment Manufacturers and Independent Aftermarket.