Westport Innovations Given New $35.00 Price Target at Jefferies Group (WPRT)
Stock analysts at Jefferies Group cut their price target on shares of Westport Innovations (NASDAQ:WPRT) from $38.00 to $35.00 in a report issued on Friday, AR Network reports. The firm currently has a “buy” rating on the stock. Jefferies Group’s price objective indicates a potential upside of 40.96% from the stock’s previous close.
Shares of Westport Innovations (NASDAQ:WPRT) traded down 0.42% on Friday, hitting $24.83. 2,226,574 shares of the company’s stock traded hands. Westport Innovations has a 52-week low of $23.01 and a 52-week high of $35.40. The stock has a 50-day moving average of $27.76 and a 200-day moving average of $29.40. The company’s market cap is $1.403 billion.
Westport Innovations (NASDAQ:WPRT) last announced its earnings results on Thursday, August 1st. The company reported ($0.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.49) by $0.12. The company had revenue of $34.90 million for the quarter, compared to the consensus estimate of $43.24 million. During the same quarter in the previous year, the company posted ($0.11) earnings per share. The company’s revenue for the quarter was down 28.9% on a year-over-year basis.
Other equities research analysts have also recently issued reports about the stock. Analysts at RBC Capital initiated coverage on shares of Westport Innovations (NASDAQ:WPRT) in a research note to investors on Thursday, August 15th. They set a “sector perform” rating and a $28.00 price target on the stock. Separately, analysts at Raymond James reiterated a “market perform” rating on shares of Westport Innovations (NASDAQ:WPRT) in a research note to investors on Friday, August 2nd. Finally, analysts at Northland Securities downgraded shares of Westport Innovations (NASDAQ:WPRT) from an “outperform” rating to a “market perform” rating in a research note to investors on Friday, August 2nd. They now have a $32.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $32.50.
Westport Innovations Inc (NASDAQ:WPRT) is a provider of engine and fuel system technologies utilizing gaseous fuels.
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