Cormark Has Lowered Expectations for Westport Fuel Systems (NASDAQ:WPRT) Stock Price

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) had its price objective lowered by research analysts at Cormark from $11.50 to $10.80 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. Cormark’s price objective points to a potential upside of 202.10% from the stock’s previous close.

Separately, Royal Bank of Canada lowered 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 report on Tuesday.

Westport Fuel Systems Trading Down 3.6 %

Shares of WPRT stock traded down $0.14 on Tuesday, hitting $3.58. The company had a trading volume of 60,867 shares, compared to its average volume of 41,391. The stock’s 50-day moving average is $4.17 and its two-hundred day moving average is $4.19. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.00 and a current ratio of 1.60. The firm has a market cap of $61.79 million, a P/E ratio of -2.40 and a beta of 2.93. Westport Fuel Systems has a twelve month low of $3.26 and a twelve month high of $6.69.

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) last released its earnings results on Monday, March 31st. The auto parts company reported ($0.59) EPS for the quarter, missing the consensus estimate 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, equities research analysts anticipate that Westport Fuel Systems will post -1.69 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Westport Fuel Systems

Several institutional investors have recently made changes to their positions in WPRT. TD Waterhouse Canada Inc. grew its stake in Westport Fuel Systems by 2,384.7% during 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. Millennium Management LLC purchased a new stake in shares of Westport Fuel Systems in the fourth quarter worth $149,000. Baird Financial Group Inc. boosted its stake 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 valued at $3,280,000 after buying an additional 235,610 shares during the period. Finally, Grace & White Inc. NY grew its position in Westport Fuel Systems by 40.3% during the fourth 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 in the last quarter. Hedge funds and other institutional investors own 21.30% of the company’s stock.

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.