BidaskClub Upgrades Westport Fuel Systems (NASDAQ:WPRT) to “Buy”

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) was upgraded by equities research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday, BidAskClub reports.

Other equities analysts have also issued reports about the company. HC Wainwright reissued a “buy” rating on shares of Advanced Emissions Solutions in a research note on Wednesday, March 20th. Cowen reissued a “buy” rating on shares of G1 Therapeutics in a research note on Friday, May 10th. ValuEngine lowered Zumiez from a “hold” rating to a “sell” rating in a research note on Monday, May 13th. Zacks Investment Research raised GALP ENERGIA SG/ADR from a “sell” rating to a “hold” rating in a research note on Monday, May 27th. Finally, Lake Street Capital set a $50.00 price target on Shotspotter and gave the company a “buy” rating in a research note on Friday, May 10th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $4.19.

Westport Fuel Systems stock opened at $3.11 on Friday. The business has a 50 day moving average of $2.71. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.09 and a current ratio of 1.52. The firm has a market capitalization of $400.14 million, a price-to-earnings ratio of -10.03 and a beta of 1.67. Westport Fuel Systems has a one year low of $1.17 and a one year high of $3.77.

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) last posted its quarterly earnings data on Thursday, May 9th. The auto parts company reported ($0.02) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.03. Westport Fuel Systems had a negative return on equity of 33.07% and a negative net margin of 7.25%. The company had revenue of $73.19 million for the quarter, compared to analyst estimates of $67.23 million. As a group, analysts predict that Westport Fuel Systems will post -0.09 EPS for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Stonehearth Capital Management LLC bought a new stake in Westport Fuel Systems in the 2nd quarter valued at $28,000. Granite Investment Partners LLC increased its holdings in Westport Fuel Systems by 113.5% in the 1st quarter. Granite Investment Partners LLC now owns 435,870 shares of the auto parts company’s stock valued at $675,000 after buying an additional 231,752 shares during the period. Oppenheimer & Co. Inc. increased its holdings in Westport Fuel Systems by 58.1% in the 1st quarter. Oppenheimer & Co. Inc. now owns 141,200 shares of the auto parts company’s stock valued at $220,000 after buying an additional 51,900 shares during the period. Trellus Management Company LLC increased its holdings in Westport Fuel Systems by 23.3% in the 1st quarter. Trellus Management Company LLC now owns 390,000 shares of the auto parts company’s stock valued at $605,000 after buying an additional 73,640 shares during the period. Finally, Grace & White Inc. NY increased its holdings in Westport Fuel Systems by 5.6% in the 1st quarter. Grace & White Inc. NY now owns 2,079,204 shares of the auto parts company’s stock valued at $3,223,000 after buying an additional 110,800 shares during the period. Hedge funds and other institutional investors own 20.86% of the company’s stock.

Westport Fuel Systems Company Profile

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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