JPMorgan Chase & Co. Lowers Westport Innovations Price Target to $23.00 (WPRT)
Stock analysts at JPMorgan Chase & Co. cut their target price on shares of Westport Innovations (NASDAQ:WPRT) from $26.00 to $23.00 in a report issued on Monday, Analyst Ratings Network reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.’s price target indicates a potential downside of 4.92% from the company’s current price.
A number of other analysts have also recently weighed in on WPRT. Analysts at Jefferies Group cut their price target on shares of Westport Innovations (NASDAQ:WPRT) from $38.00 to $35.00 in a research note to investors on Friday. They now have a “buy” rating on the stock. Finally, 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. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $32.00.
Shares of Westport Innovations (NASDAQ:WPRT) traded down 2.58% during mid-day trading on Monday, hitting $24.19. The stock had a trading volume of 1,670,831 shares. 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 $27.68 and a 200-day moving average of $29.35. The company’s market cap is $1.366 billion.
Westport Innovations (NASDAQ:WPRT) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.61) earnings per share for the quarter, missing the analysts’ 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 last year, the company posted ($0.11) earnings per share. Westport Innovations’s revenue was down 28.9% compared to the same quarter last year. Analysts expect that Westport Innovations will post $-2.15 EPS for the current fiscal year.
Westport Innovations Inc (NASDAQ:WPRT) is a provider of engine and fuel system technologies utilizing gaseous fuels.
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