Westport Fuel Systems (NASDAQ:WPRT) Given a $2.65 Price Target at ATB Cormark Capital Markets

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) has been given a $2.65 price target by investment analysts at ATB Cormark Capital Markets in a report released on Monday,BayStreet.CA reports. The brokerage presently has a “speculative buy” rating on the auto parts company’s stock. ATB Cormark Capital Markets’ price objective would suggest a potential upside of 46.01% from the stock’s current price.

WPRT has been the subject of several other research reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Westport Fuel Systems in a report on Friday, July 17th. Royal Bank Of Canada cut their target price on shares of Westport Fuel Systems from $1.75 to $1.00 and set a “sector perform” rating for the company in a research report on Thursday, August 13th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Westport Fuel Systems presently has a consensus rating of “Hold” and a consensus price target of $1.82.

Westport Fuel Systems Trading Down 0.8%

Shares of NASDAQ:WPRT traded down $0.01 during mid-day trading on Monday, reaching $1.81. The company had a trading volume of 20,663 shares, compared to its average volume of 437,259. The firm has a market cap of $34.48 million, a price-to-earnings ratio of -0.75 and a beta of 2.13. The company’s 50-day moving average price is $1.95 and its 200-day moving average price is $1.97. Westport Fuel Systems has a one year low of $1.54 and a one year high of $2.98.

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) last announced its quarterly earnings data on Tuesday, August 11th. The auto parts company reported ($0.64) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.29). Westport Fuel Systems had a negative net margin of 493.15% and a negative return on equity of 51.88%. The firm had revenue of $2.72 million for the quarter, compared to the consensus estimate of $2.23 million. On average, research analysts anticipate that Westport Fuel Systems will post -1.44 EPS for the current fiscal year.

Institutional Investors Weigh In On Westport Fuel Systems

Several institutional investors have recently made changes to their positions in the stock. Royce & Associates LP purchased a new position in Westport Fuel Systems during the fourth quarter worth about $357,000. Susquehanna International Group LLP raised its holdings in shares of Westport Fuel Systems by 222.6% in the 2nd quarter. Susquehanna International Group LLP now owns 18,017 shares of the auto parts company’s stock valued at $41,000 after acquiring an additional 32,717 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of Westport Fuel Systems during the 4th quarter valued at about $31,000. Finally, Goldman Sachs Group Inc. boosted its position in shares of Westport Fuel Systems by 23.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 38,753 shares of the auto parts company’s stock valued at $61,000 after acquiring an additional 7,401 shares during 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 is a Canadian-based company that designs, engineers and manufactures alternative fuel systems and components for transportation and industrial applications. Specializing in natural gas, propane and hydrogen technologies, the company develops complete fuel delivery systems, high-pressure direct injection solutions and fuel storage modules tailored for light-, medium- and heavy-duty vehicles. Its platforms are designed to reduce emissions and lower operating costs for original equipment manufacturers (OEMs) and fleet operators worldwide.

The company’s product portfolio includes compressed natural gas (CNG) and liquefied natural gas (LNG) fuel systems, electronic controls, injectors, pressure regulators and specialized fuel tanks.