ATB Cormark Capital Markets Analysts Give Westport Fuel Systems (NASDAQ:WPRT) a $2.65 Price Target

ATB Cormark Capital Markets set a $2.65 price target on Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) in a report published on Monday,BayStreet.CA reports. The brokerage currently has a speculative buy rating on the auto parts company’s stock.

Other equities research analysts have also recently issued reports about the company. Royal Bank Of Canada reduced their price objective on Westport Fuel Systems from $1.75 to $1.00 and set a “sector perform” rating for the company in a research report on Thursday, August 13th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Westport Fuel Systems in a research report on Friday, July 17th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $1.82.

Westport Fuel Systems Stock Performance

NASDAQ WPRT opened at $1.87 on Monday. Westport Fuel Systems has a twelve month low of $1.54 and a twelve month high of $2.89. The stock has a market capitalization of $35.53 million, a PE ratio of -0.78 and a beta of 2.13. The stock has a 50-day simple moving average of $1.95 and a 200 day simple moving average of $1.97.

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) last released its earnings results on Tuesday, August 11th. The auto parts company reported ($0.64) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.29). The business had revenue of $2.72 million during the quarter, compared to analyst estimates of $2.23 million. Westport Fuel Systems had a negative net margin of 493.15% and a negative return on equity of 51.88%. As a group, equities research analysts forecast that Westport Fuel Systems will post -1.44 EPS for the current fiscal year.

Hedge Funds Weigh In On Westport Fuel Systems

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Susquehanna International Group LLP lifted its position in shares of Westport Fuel Systems by 222.6% in the 2nd quarter. Susquehanna International Group LLP now owns 18,017 shares of the auto parts company’s stock worth $41,000 after acquiring an additional 32,717 shares during the period. XTX Topco Ltd bought a new stake in shares of Westport Fuel Systems during the fourth quarter valued at approximately $31,000. Goldman Sachs Group Inc. increased its position in shares of Westport Fuel Systems by 23.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 38,753 shares of the auto parts company’s stock valued at $61,000 after purchasing an additional 7,401 shares during the period. Finally, Royce & Associates LP acquired a new position in shares of Westport Fuel Systems in the fourth quarter valued at $357,000. 21.30% of the stock is currently owned by 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.