Westport Fuel Systems (WPRT) – Research Analysts’ Weekly Ratings Updates

A number of firms have modified their ratings and price targets on shares of Westport Fuel Systems (NASDAQ: WPRT) recently:

  • 5/27/2019 – Westport Fuel Systems was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $2.75 price target on the stock. According to Zacks, “In first-quarter 2019, Westport Fuel’s net loss from continuing operations was narrower than the Zacks Consensus Estimate. Further, revenues improved during the quarter. This upside was driven by increased aftermarket revenue generation and Westport HPDI 2.0 shipments. The company is well positioned to meet the growing demand for fuel systems and components. Westport HPDI 2.0, which offers an environment-friendly robust performance of heavy-duty trucks, is likely to increase the market share of the company. Further, the company regularly makes acquisitions and divestments to develop technologies and edge on non-core businesses. However, rising SG&A expenses, owing to high legal and restructuring costs, are woes. Also, it has to keep a check on research development costs that might hurt margins.”
  • 5/24/2019 – Westport Fuel Systems was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “In first-quarter 2019, Westport Fuel’s net loss from continuing operations was narrower than the Zacks Consensus Estimate. Further, revenues improved during the quarter. This upside was driven by increased aftermarket revenue generation and Westport HPDI 2.0 shipments. The company is well positioned to meet the growing demand for fuel systems and components. Westport HPDI 2.0, which offers an environment-friendly robust performance of heavy-duty trucks, is likely to increase the market share of the company. Further, the company regularly makes acquisitions and divestments to develop technologies and edge on non-core businesses.”
  • 5/20/2019 – Westport Fuel Systems was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 5/17/2019 – Westport Fuel Systems was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $2.75 price target on the stock. According to Zacks, “In first-quarter 2019, Westport Fuel’s net loss from continuing operations was narrower than the Zacks Consensus Estimate. Further, revenues improved during the quarter. This upside was driven by increased aftermarket revenue generation and Westport HPDI 2.0 shipments. The company is well positioned to meet the growing demand for fuel systems and components. Westport HPDI 2.0, which offers an environment-friendly robust performance of heavy-duty trucks, is likely to increase the market share of the company. Further, the company regularly makes acquisitions and divestments to develop technologies and edge on non-core businesses.”
  • 5/14/2019 – Westport Fuel Systems was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.
  • 5/13/2019 – Westport Fuel Systems was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.
  • 5/10/2019 – Westport Fuel Systems was given a new $3.00 price target on by analysts at Cowen Inc. They now have a “hold” rating on the stock.
  • 5/10/2019 – Westport Fuel Systems was upgraded by analysts at Lake Street Capital from a “hold” rating to a “buy” rating. They now have a $5.00 price target on the stock.

Shares of NASDAQ:WPRT traded down $0.03 during trading hours on Wednesday, hitting $2.52. 1,947 shares of the company’s stock traded hands, compared to its average volume of 870,596. Westport Fuel Systems Inc has a 52 week low of $1.17 and a 52 week high of $3.77. The company has a current ratio of 1.52, a quick ratio of 1.09 and a debt-to-equity ratio of 0.67. The firm has a market cap of $338.79 million, a price-to-earnings ratio of -8.13 and a beta of 2.65.

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) last posted its quarterly earnings data on Thursday, May 9th. The auto parts company reported ($0.02) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.03. Westport Fuel Systems had a negative net margin of 7.25% and a negative return on equity of 33.07%. The company had revenue of $73.19 million during the quarter, compared to analyst estimates of $67.23 million. On average, research analysts forecast that Westport Fuel Systems Inc will post -0.09 earnings per share for the current year.

Large investors have recently bought and sold shares of the company. Oppenheimer & Co. Inc. boosted its holdings in shares of Westport Fuel Systems by 49.1% in the fourth quarter. Oppenheimer & Co. Inc. now owns 89,300 shares of the auto parts company’s stock worth $118,000 after buying an additional 29,400 shares during the period. Two Sigma Investments LP acquired a new position in shares of Westport Fuel Systems in the fourth quarter worth about $59,000. Prescott Group Capital Management L.L.C. acquired a new position in shares of Westport Fuel Systems in the fourth quarter worth about $60,000. Two Sigma Securities LLC acquired a new position in shares of Westport Fuel Systems in the fourth quarter worth about $62,000. Finally, Virtu Financial LLC boosted its holdings in shares of Westport Fuel Systems by 358.6% in the fourth quarter. Virtu Financial LLC now owns 84,334 shares of the auto parts company’s stock worth $112,000 after buying an additional 65,944 shares during the period. Institutional investors own 20.86% of the company’s stock.

Westport Fuel Systems Inc engineers, manufactures, and supplies alternative fuel systems and components for the transportation application worldwide. It operates through Transportation and Cummins Westport Inc (CWI) Joint Venture segments. The company offers fuel systems and components a range of alternative fuels, such as liquefied petroleum gas, compressed natural gas, liquefied natural gas, renewable natural gas, and hydrogen; and independent aftermarket, original equipment manufacturers (OEMs) and delayed OEMs, electronics, current and advanced research and development programs, supply chain, and product planning activities.

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