Westport Innovations Inc. (NASDAQ:WPRT) Given Average Recommendation of “Hold” by Analysts
Westport Innovations Inc. (NASDAQ:WPRT) has been given an average recommendation of “Hold” by the seven brokerages that are presently covering the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $3.75.
A number of equities analysts recently issued reports on the stock. Canaccord Genuity reissued a “hold” rating on shares of Westport Innovations in a research note on Thursday, June 2nd. Rodman & Renshaw assumed coverage on shares of Westport Innovations in a research note on Monday, June 20th. They issued a “buy” rating and a $5.00 price target for the company. HC Wainwright reissued a “buy” rating on shares of Westport Innovations in a research note on Monday, June 20th. Finally, Zacks Investment Research raised shares of Westport Innovations from a “sell” rating to a “hold” rating in a research note on Monday, July 18th.
Institutional investors have recently made changes to their positions in the stock. Jane Street Group LLC increased its position in shares of Westport Innovations by 10.3% in the second quarter. Jane Street Group LLC now owns 64,307 shares of the company’s stock worth $107,000 after buying an additional 6,007 shares in the last quarter. Royal Bank of Canada boosted its stake in Westport Innovations by 349.4% in the second quarter. Royal Bank of Canada now owns 71,722 shares of the company’s stock worth $120,000 after buying an additional 55,762 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its stake in Westport Innovations by 1.9% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 48,603 shares of the company’s stock worth $127,000 after buying an additional 905 shares during the last quarter. KCG Holdings Inc. boosted its stake in Westport Innovations by 5.2% in the second quarter. KCG Holdings Inc. now owns 80,615 shares of the company’s stock worth $135,000 after buying an additional 3,995 shares during the last quarter. Finally, California Public Employees Retirement System purchased a new stake in Westport Innovations during the second quarter worth approximately $245,000. 16.99% of the stock is owned by institutional investors and hedge funds.
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Shares of Westport Innovations (NASDAQ:WPRT) traded up 2.1667% during trading on Wednesday, hitting $1.4099. The stock had a trading volume of 77,164 shares. The stock has a 50 day moving average of $1.47 and a 200 day moving average of $1.95. Westport Innovations has a 52-week low of $1.29 and a 52-week high of $4.01. The firm’s market cap is $154.82 million.
Westport Innovations (NASDAQ:WPRT) last issued its quarterly earnings data on Tuesday, August 9th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.22) by $0.27. The firm earned $44.40 million during the quarter, compared to the consensus estimate of $49.21 million. Westport Innovations had a negative net margin of 69.35% and a negative return on equity of 135.76%. The company’s quarterly revenue was up 59.7% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.27) earnings per share. On average, equities analysts anticipate that Westport Innovations will post ($0.62) EPS for the current year.
Westport Innovations Company Profile
Westport Fuel Systems Inc (Westport), 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.
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