Westport Fuel Systems (NASDAQ:WPRT) Price Target Cut to $4.00 by Analysts at Royal Bank of Canada

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) had its target price lowered by Royal Bank of Canada from $8.00 to $4.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “sector perform” rating on the auto parts company’s stock. Royal Bank of Canada’s target price points to a potential upside of 13.96% from the stock’s current price.

Westport Fuel Systems Stock Down 5.4 %

Shares of WPRT traded down $0.20 during midday trading on Tuesday, hitting $3.51. 31,783 shares of the company’s stock traded hands, compared to its average volume of 47,595. The company has a current ratio of 1.60, a quick ratio of 1.00 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $60.66 million, a price-to-earnings ratio of -2.36 and a beta of 2.93. Westport Fuel Systems has a 1 year low of $3.26 and a 1 year high of $6.74. The firm’s fifty day moving average is $4.17 and its 200-day moving average is $4.19.

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) last issued its quarterly earnings results on Monday, March 31st. The auto parts company reported ($0.59) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.35). Westport Fuel Systems had a negative return on equity of 25.57% and a negative net margin of 8.01%. The business had revenue of $75.10 million for the quarter, compared to analysts’ expectations of $70.68 million. As a group, sell-side analysts anticipate that Westport Fuel Systems will post -1.69 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Grace & White Inc. NY lifted its holdings in shares of Westport Fuel Systems by 40.3% during the fourth quarter. Grace & White Inc. NY now owns 1,043,980 shares of the auto parts company’s stock worth $3,737,000 after purchasing an additional 299,798 shares during the period. Baird Financial Group Inc. raised its position in Westport Fuel Systems by 34.6% during the 4th quarter. Baird Financial Group Inc. now owns 916,168 shares of the auto parts company’s stock worth $3,280,000 after buying an additional 235,610 shares during the last quarter. Millennium Management LLC purchased a new stake in shares of Westport Fuel Systems in the 4th quarter valued at $149,000. Finally, TD Waterhouse Canada Inc. increased its stake in shares of Westport Fuel Systems by 2,384.7% in the fourth quarter. TD Waterhouse Canada Inc. now owns 16,374 shares of the auto parts company’s stock worth $57,000 after acquiring an additional 15,715 shares during the period. 21.30% of the stock is owned by institutional investors and hedge funds.

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.