Northland Securities Lowers Fuel Systems Solutions Price Target to $10.00 (FSYS)
Northland Securities reduced their target price on shares of Fuel Systems Solutions (NASDAQ:FSYS) from $15.00 to $10.00 in a research note issued on Tuesday. The firm currently has a “market perform” rating on the stock. Northland Securities’ target price points to a potential downside of 2.82% from the stock’s previous close.
The analysts wrote, “FSYS posted slightly disappointing results on its core business and lowered guidance while taking a $2.15 per share write off as it begins to close its Livorno auto conversion facility. As FSYS continues to reshape its business, we believe investors will be focused on target end-markets for its products, EBITDA breakeven metrics and operating leverage on a go-forward basis. We maintain our MP rating and lower our PT to $10 (from $15).”
Fuel Systems Solutions (NASDAQ:FSYS) traded up 0.29% during mid-day trading on Tuesday, hitting $10.32. The stock had a trading volume of 8,220 shares. Fuel Systems Solutions has a 1-year low of $9.25 and a 1-year high of $20.96. The stock’s 50-day moving average is $10.8 and its 200-day moving average is $10.98. The company’s market cap is $207.4 million.
Fuel Systems Solutions (NASDAQ:FSYS) last announced its earnings results on Monday, August 18th. The company reported ($0.05) earnings per share for the quarter, missing the Thomson Reuters consensus estimate of $0.02 by $0.07. The company had revenue of $87.40 million for the quarter, compared to the consensus estimate of $89.53 million. During the same quarter in the prior year, the company posted $0.13 earnings per share. The company’s quarterly revenue was down 30.9% on a year-over-year basis. On average, analysts predict that Fuel Systems Solutions will post $-0.05 earnings per share for the current fiscal year.
Fuel Systems Solutions, Inc (NASDAQ:FSYS) designs, manufactures and supplies alternative fuel components and systems for use in the transportation and industrial markets.
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