Westport Fuel Systems Inc (WPRT) Issues Earnings Results

Westport Fuel Systems Inc (NASDAQ:WPRT) (TSE:WPRT) released its earnings results on Tuesday. The auto parts company reported ($0.12) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.15) by $0.03, Briefing.com reports. The firm had revenue of $60.80 million during the quarter, compared to analysts’ expectations of $51.91 million. Westport Fuel Systems had a negative return on equity of 65.98% and a negative net margin of 20.37%. The company’s revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.30) EPS.

Westport Fuel Systems (WPRT) opened at $3.00 on Wednesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.00 and a current ratio of 1.34. Westport Fuel Systems has a 1-year low of $0.82 and a 1-year high of $4.09.

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A hedge fund recently raised its stake in Westport Fuel Systems stock. Northern Trust Corp grew its stake in Westport Fuel Systems Inc (NASDAQ:WPRT) (TSE:WPRT) by 0.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,774 shares of the auto parts company’s stock after acquiring an additional 346 shares during the period. Northern Trust Corp owned 0.06% of Westport Fuel Systems worth $161,000 at the end of the most recent quarter. Institutional investors and hedge funds own 10.59% of the company’s stock.

A number of equities analysts have issued reports on the company. Lake Street Capital reiterated a “buy” rating and set a $5.00 target price on shares of Westport Fuel Systems in a report on Wednesday. Zacks Investment Research upgraded Westport Fuel Systems from a “hold” rating to a “buy” rating and set a $4.25 target price for the company in a report on Thursday, October 12th. ValuEngine cut Westport Fuel Systems from a “hold” rating to a “sell” rating in a report on Friday, September 1st. CIBC initiated coverage on Westport Fuel Systems in a report on Thursday, August 17th. They set an “outperform” rating and a $3.00 target price for the company. Finally, BidaskClub upgraded Westport Fuel Systems from a “hold” rating to a “buy” rating in a report on Thursday, August 17th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $3.30.

About Westport Fuel Systems

Westport Fuel Systems Inc, formerly Westport Innovations Inc, is a Canada-based provider of low-emission engine and fuel system technologies utilizing gaseous fuels. It operates through the Westport Operations segment. The Westport Operations segment designs, manufactures and sells compressed natural gas, liquefied natural gas, and liquefied petroleum gas components and systems to original equipment manufacturers and to aftermarket customers.

Earnings History for Westport Fuel Systems (NASDAQ:WPRT)

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