Westport Fuel Systems (NASDAQ:WPRT) Price Target Cut to $1.00 by Analysts at Royal Bank Of Canada

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) had its price target reduced by stock analysts at Royal Bank Of Canada from $1.75 to $1.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “sector perform” rating on the auto parts company’s stock. Royal Bank Of Canada’s target price would indicate a potential downside of 46.09% from the stock’s current price.

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Westport Fuel Systems in a research note on Friday, July 17th. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $1.00.

Westport Fuel Systems Stock Up 1.9%

NASDAQ:WPRT traded up $0.04 during trading hours on Thursday, hitting $1.85. 20,303 shares of the company’s stock traded hands, compared to its average volume of 451,907. Westport Fuel Systems has a 52 week low of $1.54 and a 52 week high of $3.26. The business’s fifty day simple moving average is $1.96 and its two-hundred day simple moving average is $1.98. The firm has a market cap of $35.24 million, a P/E ratio of -0.77 and a beta of 2.13.

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) last released its quarterly earnings results on Tuesday, August 11th. The auto parts company reported ($0.53) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.18). The business had revenue of $2.72 million during the quarter, compared to analysts’ expectations of $2.23 million. Westport Fuel Systems had a negative net margin of 493.15% and a negative return on equity of 48.51%. On average, analysts expect that Westport Fuel Systems will post -1.44 EPS for the current year.

Hedge Funds Weigh In On Westport Fuel Systems

Large investors have recently modified their holdings of the company. Grace & White Inc. NY boosted its stake 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 buying an additional 114,787 shares in the last quarter. Royce & Associates LP purchased a new stake in Westport Fuel Systems during the 4th quarter valued at $357,000. Goldman Sachs Group Inc. grew its stake in shares of 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 last quarter. Finally, XTX Topco Ltd purchased a new position in shares of Westport Fuel Systems during the fourth quarter valued at approximately $31,000. 21.30% of the stock is owned by hedge funds and other institutional investors.

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.