Westport Fuel Systems (NASDAQ:WPRT) Earns "Sector Perform" Rating from Royal Bank of Canada

Royal Bank of Canada reissued their sector perform rating on shares of Westport Fuel Systems (NASDAQ:WPRT - Free Report) TSE: WPRT in a report issued on Thursday morning,Benzinga reports. Royal Bank of Canada currently has a $8.00 target price on the auto parts company's stock.

Other analysts have also recently issued research reports about the stock. HC Wainwright reaffirmed a "buy" rating and issued a $22.00 target price on shares of Westport Fuel Systems in a report on Thursday, August 15th. StockNews.com upgraded shares of Westport Fuel Systems from a "sell" rating to a "hold" rating in a research note on Wednesday, August 14th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $14.13.

Westport Fuel Systems Trading Up 1.3 %

Westport Fuel Systems stock traded up $0.05 during midday trading on Thursday, hitting $4.05. 122,038 shares of the stock were exchanged, compared to its average volume of 44,792. The company has a current ratio of 1.54, a quick ratio of 1.10 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $69.90 million, a price-to-earnings ratio of -2.65 and a beta of 2.84. The stock's 50-day simple moving average is $4.50 and its 200 day simple moving average is $5.38. Westport Fuel Systems has a fifty-two week low of $3.91 and a fifty-two week high of $7.86.

Westport Fuel Systems (NASDAQ:WPRT - Get Free Report) TSE: WPRT last announced its earnings results on Tuesday, August 13th. The auto parts company reported ($0.43) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.55) by $0.12. Westport Fuel Systems had a negative return on equity of 25.42% and a negative net margin of 8.01%. The company had revenue of $88.64 million for the quarter, compared to analyst estimates of $86.23 million. On average, equities analysts anticipate that Westport Fuel Systems will post -1.89 EPS for the current year.

Hedge Funds Weigh In On Westport Fuel Systems

A number of institutional investors have recently modified their holdings of WPRT. Grace & White Inc. NY increased its holdings in shares of Westport Fuel Systems by 19.0% in the third quarter. Grace & White Inc. NY now owns 744,182 shares of the auto parts company's stock valued at $3,416,000 after purchasing an additional 118,860 shares during the period. US Bancorp DE grew its position in Westport Fuel Systems by 170.7% in the 3rd quarter. US Bancorp DE now owns 188,349 shares of the auto parts company's stock valued at $865,000 after buying an additional 118,780 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new position in Westport Fuel Systems during the 2nd quarter worth $67,000. 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.