Westport Fuel Systems Inc (WPRT) Raised to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Westport Fuel Systems Inc (NASDAQ:WPRT) (TSE:WPT) from a hold rating to a buy rating in a report published on Thursday, October 12th. Zacks Investment Research currently has $4.25 price target on the auto parts company’s stock.

According to Zacks, “Westport Fuel Systems frequently engages in investments and acquisitions related to technologies and businesses, which helps the company to commercialize its products and increase its global presence. Further, to boost its sales figure and improve its financials, the company regularly launches new products and engages in sale of its non-core assets. The company also maintains strong strategic relationships with leading truck and automotive producers, enabling it to improve its distribution and sales networks. Moreover, its shares have also outperformed the industry it belongs to over the last three months.”

Other equities analysts have also issued reports about the company. Oppenheimer Holdings, Inc. started coverage on Westport Fuel Systems in a report on Wednesday, August 16th. They set an outperform rating and a $3.00 target price for the company. ValuEngine raised Westport Fuel Systems from a sell rating to a hold rating in a report on Tuesday, June 27th. BidaskClub raised Westport Fuel Systems from a hold rating to a buy rating in a report on Thursday, August 17th. HC Wainwright set a $5.00 target price on Westport Fuel Systems and gave the company a buy rating in a report on Tuesday, August 15th. Finally, Cowen and Company reaffirmed a hold rating and set a $1.50 target price on shares of Westport Fuel Systems in a report on Friday, July 14th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. The company currently has an average rating of Buy and an average target price of $3.30.

Shares of Westport Fuel Systems (WPRT) traded down 5.08% during mid-day trading on Thursday, reaching $3.55. The company had a trading volume of 1,327,040 shares. The company’s market capitalization is $462.92 million. Westport Fuel Systems has a 1-year low of $0.82 and a 1-year high of $4.09. The stock’s 50-day moving average price is $3.16 and its 200 day moving average price is $2.09.

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPT) last announced its quarterly earnings data on Monday, August 14th. The auto parts company reported ($0.12) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.15) by $0.03. The firm had revenue of $62.10 million during the quarter, compared to analyst estimates of $58.44 million. Westport Fuel Systems had a negative return on equity of 65.98% and a negative net margin of 20.37%. Westport Fuel Systems’s quarterly revenue was up 66.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.05 earnings per share. Equities analysts expect that Westport Fuel Systems will post ($0.49) EPS for the current year.

WARNING: “Westport Fuel Systems Inc (WPRT) Raised to “Buy” at Zacks Investment Research” was originally published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this piece on another website, it was copied illegally and republished in violation of international trademark and copyright legislation. The original version of this piece can be viewed at https://ledgergazette.com/2017/10/23/westport-fuel-systems-inc-wprt-upgraded-to-buy-at-zacks-investment-research.html.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Northern Trust Corp lifted its position in Westport Fuel Systems by 0.5% in the second quarter. Northern Trust Corp now owns 68,774 shares of the auto parts company’s stock worth $161,000 after purchasing an additional 346 shares during the period. Royal Bank of Canada lifted its position in Westport Fuel Systems by 0.5% in the second quarter. Royal Bank of Canada now owns 72,049 shares of the auto parts company’s stock worth $169,000 after purchasing an additional 375 shares during the period. Royce & Associates LP lifted its position in shares of Westport Fuel Systems by 1.0% during the 1st quarter. Royce & Associates LP now owns 5,391,983 shares of the auto parts company’s stock valued at $5,176,000 after acquiring an additional 52,500 shares during the last quarter. Wells Fargo & Company MN lifted its position in shares of Westport Fuel Systems by 496.2% during the 1st quarter. Wells Fargo & Company MN now owns 108,054 shares of the auto parts company’s stock valued at $103,000 after acquiring an additional 89,931 shares during the last quarter. Finally, KCG Holdings Inc. lifted its position in shares of Westport Fuel Systems by 313.2% during the 1st quarter. KCG Holdings Inc. now owns 127,134 shares of the auto parts company’s stock valued at $122,000 after acquiring an additional 96,365 shares during the last quarter. Hedge funds and other institutional investors own 9.35% of the company’s stock.

About Westport Fuel Systems

Westport Fuel Systems Inc, formerly Westport Innovations Inc, is a Canada-based provider of low-emission engine and fuel system technologies utilizing gaseous fuels. It operates through the Westport Operations segment. The Westport Operations segment designs, manufactures and sells compressed natural gas, liquefied natural gas, and liquefied petroleum gas components and systems to original equipment manufacturers and to aftermarket customers.

Get a free copy of the Zacks research report o

According to Zacks, “Westport Fuel Systems frequently engages in investments and acquisitions related to technologies and businesses, which helps the company to commercialize its products and increase its global presence. Further, to boost its sales figure and improve its financials, the company regularly launches new products and engages in sale of its non-core assets. The company also maintains strong strategic relationships with leading truck and automotive producers, enabling it to improve its distribution and sales networks. Moreover, its shares have also outperformed the industry it belongs to over the last three months.”

Other equities analysts have also issued reports about the company. Oppenheimer Holdings, Inc. started coverage on Westport Fuel Systems in a report on Wednesday, August 16th. They set an outperform rating and a $3.00 target price for the company. ValuEngine raised Westport Fuel Systems from a sell rating to a hold rating in a report on Tuesday, June 27th. BidaskClub raised Westport Fuel Systems from a hold rating to a buy rating in a report on Thursday, August 17th. HC Wainwright set a $5.00 target price on Westport Fuel Systems and gave the company a buy rating in a report on Tuesday, August 15th. Finally, Cowen and Company reaffirmed a hold rating and set a $1.50 target price on shares of Westport Fuel Systems in a report on Friday, July 14th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. The company currently has an average rating of Buy and an average target price of $3.30.

Shares of Westport Fuel Systems (WPRT) traded down 5.08% during mid-day trading on Thursday, reaching $3.55. The company had a trading volume of 1,327,040 shares. The company’s market capitalization is $462.92 million. Westport Fuel Systems has a 1-year low of $0.82 and a 1-year high of $4.09. The stock’s 50-day moving average price is $3.16 and its 200 day moving average price is $2.09.

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPT) last announced its quarterly earnings data on Monday, August 14th. The auto parts company reported ($0.12) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.15) by $0.03. The firm had revenue of $62.10 million during the quarter, compared to analyst estimates of $58.44 million. Westport Fuel Systems had a negative return on equity of 65.98% and a negative net margin of 20.37%. Westport Fuel Systems’s quarterly revenue was up 66.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.05 earnings per share. Equities analysts expect that Westport Fuel Systems will post ($0.49) EPS for the current year.

WARNING: “Westport Fuel Systems Inc (WPRT) Raised to “Buy” at Zacks Investment Research” was originally published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this piece on another website, it was copied illegally and republished in violation of international trademark and copyright legislation. The original version of this piece can be viewed at https://ledgergazette.com/2017/10/23/westport-fuel-systems-inc-wprt-upgraded-to-buy-at-zacks-investment-research.html.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Northern Trust Corp lifted its position in Westport Fuel Systems by 0.5% in the second quarter. Northern Trust Corp now owns 68,774 shares of the auto parts company’s stock worth $161,000 after purchasing an additional 346 shares during the period. Royal Bank of Canada lifted its position in Westport Fuel Systems by 0.5% in the second quarter. Royal Bank of Canada now owns 72,049 shares of the auto parts company’s stock worth $169,000 after purchasing an additional 375 shares during the period. Royce & Associates LP lifted its position in shares of Westport Fuel Systems by 1.0% during the 1st quarter. Royce & Associates LP now owns 5,391,983 shares of the auto parts company’s stock valued at $5,176,000 after acquiring an additional 52,500 shares during the last quarter. Wells Fargo & Company MN lifted its position in shares of Westport Fuel Systems by 496.2% during the 1st quarter. Wells Fargo & Company MN now owns 108,054 shares of the auto parts company’s stock valued at $103,000 after acquiring an additional 89,931 shares during the last quarter. Finally, KCG Holdings Inc. lifted its position in shares of Westport Fuel Systems by 313.2% during the 1st quarter. KCG Holdings Inc. now owns 127,134 shares of the auto parts company’s stock valued at $122,000 after acquiring an additional 96,365 shares during the last quarter. Hedge funds and other institutional investors own 9.35% of the company’s stock.

About Westport Fuel Systems

Westport Fuel Systems Inc, formerly Westport Innovations Inc, is a Canada-based provider of low-emission engine and fuel system technologies utilizing gaseous fuels. It operates through the Westport Operations segment. The Westport Operations segment designs, manufactures and sells compressed natural gas, liquefied natural gas, and liquefied petroleum gas components and systems to original equipment manufacturers and to aftermarket customers.

Get a free copy of the Zacks research report on Westport Fuel Systems (WPRT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Westport Fuel Systems (NASDAQ:WPRT)

Receive News & Ratings for Westport Fuel Systems Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Westport Fuel Systems Inc and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply