Canaccord Genuity Cuts Fuel Systems Solutions Price Target to $11.00 (FSYS)
Equities researchers at Canaccord Genuity dropped their price target on shares of Fuel Systems Solutions (NASDAQ:FSYS) from $12.00 to $11.00 in a research report issued on Wednesday. Canaccord Genuity’s price objective would indicate a potential upside of 11.22% from the company’s current price.
Fuel Systems Solutions (NASDAQ:FSYS) opened at 9.89 on Wednesday. Fuel Systems Solutions has a 52-week low of $9.25 and a 52-week high of $20.96. The stock’s 50-day moving average is $10. and its 200-day moving average is $10.96. The company’s market cap is $198.7 million.
Fuel Systems Solutions (NASDAQ:FSYS) last announced its earnings results on Monday, August 18th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the 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.
Separately, analysts at Northland Securities cut their price target on shares of Fuel Systems Solutions from $15.00 to $10.00 in a research note on Tuesday. They now have a “market perform” rating on the stock. One analyst has rated the stock with a sell rating and three have issued a hold rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $11.75.
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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