Royal Bank Of Canada Has Lowered Expectations for Westport Fuel Systems (NASDAQ:WPRT) Stock Price

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

Other analysts have also issued research reports about the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Westport Fuel Systems in a report on Wednesday, October 8th. HC Wainwright reissued a “buy” rating and issued a $7.00 target price on shares of Westport Fuel Systems in a research note on Wednesday, August 13th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $6.60.

Westport Fuel Systems Stock Performance

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

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

Institutional Investors Weigh In On Westport Fuel Systems

Institutional investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC bought a new stake in shares of Westport Fuel Systems in the first quarter valued at about $41,000. Baird Financial Group Inc. grew its stake in shares of Westport Fuel Systems by 4.1% in the first quarter. Baird Financial Group Inc. now owns 954,186 shares of the auto parts company’s stock valued at $3,540,000 after buying an additional 38,018 shares in the last quarter. Wealthquest Corp bought a new position in shares of Westport Fuel Systems in the 1st quarter valued at about $925,000. Finally, Banque Transatlantique SA acquired a new position in Westport Fuel Systems during the first quarter worth approximately $1,371,000. 21.30% of the stock is owned by institutional investors.

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.