Cormark Lowers Westport Fuel Systems (NASDAQ:WPRT) Price Target to $10.80

Westport Fuel Systems (NASDAQ:WPRT - Free Report) TSE: WPRT had its price target cut by Cormark from $11.50 to $10.80 in a research note published on Tuesday,BayStreet.CA reports.

Separately, Royal Bank of Canada cut their target price on shares of Westport Fuel Systems from $8.00 to $4.00 and set a "sector perform" rating for the company in a research note on Tuesday, April 1st.

Westport Fuel Systems Stock Performance

Westport Fuel Systems stock traded down $0.16 during midday trading on Tuesday, reaching $2.94. 98,868 shares of the company's stock were exchanged, compared to its average volume of 48,057. The stock's 50-day simple moving average is $4.07 and its 200 day simple moving average is $4.14. The firm has a market cap of $50.81 million, a price-to-earnings ratio of -1.97 and a beta of 2.80. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.00 and a current ratio of 1.60. Westport Fuel Systems has a 52 week low of $2.75 and a 52 week high of $6.60.

Westport Fuel Systems (NASDAQ:WPRT - Get Free Report) TSE: WPRT last posted its 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 analyst estimates of $70.68 million. On average, analysts expect that Westport Fuel Systems will post -1.69 earnings per share for the current fiscal year.

Institutional Trading of Westport Fuel Systems

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

Westport Fuel Systems Company Profile

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.