Zacks Research Upgrades Westport Fuel Systems (NASDAQ:WPRT) to “Strong-Buy”

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Monday,Zacks.com reports.

Several other equities research analysts have also issued reports on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Westport Fuel Systems in a research report on Wednesday, October 8th. Royal Bank Of Canada dropped their target price on shares of Westport Fuel Systems from $3.00 to $2.00 and set a “sector perform” rating on the stock in a report on Wednesday, November 12th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Westport Fuel Systems has an average rating of “Moderate Buy” and a consensus price target of $6.60.

Westport Fuel Systems Stock Up 1.2%

Shares of WPRT traded up $0.03 during midday trading on Monday, hitting $2.17. The company had a trading volume of 95,079 shares, compared to its average volume of 92,081. The stock has a market cap of $37.59 million, a price-to-earnings ratio of -0.62 and a beta of 2.07. The company’s 50 day moving average price is $1.75 and its 200 day moving average price is $2.44. Westport Fuel Systems has a 52 week low of $1.54 and a 52 week high of $4.78.

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) last posted its quarterly earnings results 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 return on equity of 24.16% and a negative net margin of 25.63%.The business had revenue of $1.62 million during the quarter, compared to the consensus estimate of $1.12 million. Equities analysts anticipate that Westport Fuel Systems will post -1.69 EPS for the current fiscal year.

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.