Stock analysts at Oppenheimer Holdings, Inc. began coverage on shares of Westport Fuel Systems Inc (NASDAQ:WPRT) (TSE:WPT) in a research report issued on Wednesday. The firm set an “outperform” rating and a $3.00 price target on the auto parts company’s stock. Oppenheimer Holdings, Inc.’s price objective points to a potential upside of 34.53% from the stock’s previous close.

Several other research firms have also commented on WPRT. ValuEngine raised Westport Fuel Systems from a “sell” rating to a “hold” rating in a research report on Tuesday, June 27th. Zacks Investment Research raised Westport Fuel Systems from a “hold” rating to a “buy” rating and set a $2.25 price target on the stock in a research report on Thursday, July 13th. HC Wainwright set a $5.00 price target on Westport Fuel Systems and gave the stock a “buy” rating in a research report on Tuesday. Finally, Cowen and Company set a $2.00 price target on Westport Fuel Systems and gave the stock a “hold” rating in a research report on Monday. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Westport Fuel Systems has a consensus rating of “Hold” and an average target price of $2.63.

Shares of Westport Fuel Systems (NASDAQ WPRT) traded up 1.36% during mid-day trading on Wednesday, hitting $2.23. 3,259,600 shares of the stock traded hands. Westport Fuel Systems has a one year low of $0.82 and a one year high of $2.65. The stock has a 50 day moving average price of $1.88 and a 200-day moving average price of $1.45. The company’s market cap is $246.01 million.

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPT) last released its quarterly earnings results on Monday, August 14th. The auto parts company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.03. The firm had revenue of $62.10 million for the quarter, compared to analyst estimates of $58.44 million. Westport Fuel Systems had a negative return on equity of 68.19% and a negative net margin of 20.37%. Westport Fuel Systems’s revenue for the quarter was up 66.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.05 EPS. On average, analysts forecast that Westport Fuel Systems will post ($0.47) earnings per share for the current fiscal year.

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Institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada raised its position in shares of Westport Fuel Systems by 0.5% in the second quarter. Royal Bank of Canada now owns 72,049 shares of the auto parts company’s stock worth $169,000 after buying an additional 375 shares during the last quarter. Northern Trust Corp raised its position in shares of Westport Fuel Systems by 0.5% in the second quarter. Northern Trust Corp now owns 68,774 shares of the auto parts company’s stock worth $161,000 after buying an additional 346 shares during the last quarter. Paradigm Capital Management Inc. NY acquired a new position in shares of Westport Fuel Systems during the second quarter worth about $1,176,000. Royce & Associates LP raised its position in shares of Westport Fuel Systems by 1.4% in the second quarter. Royce & Associates LP now owns 5,464,983 shares of the auto parts company’s stock worth $12,843,000 after buying an additional 73,000 shares during the last quarter. Finally, KCG Holdings Inc. raised its position in shares of Westport Fuel Systems by 313.2% in the first quarter. KCG Holdings Inc. now owns 127,134 shares of the auto parts company’s stock worth $122,000 after buying an additional 96,365 shares during the last quarter. 9.40% of the stock is currently owned by institutional investors.

Westport Fuel Systems Company Profile

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.

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