Analysts at CIBC started coverage on shares of Westport Fuel Systems Inc (NASDAQ:WPRT) (TSE:WPT) in a research report issued on Thursday. The firm set an “outperform” rating and a $3.00 price target on the auto parts company’s stock. CIBC’s price target suggests a potential upside of 34.53% from the stock’s current price.

A number of other equities research analysts have also commented on WPRT. BidaskClub upgraded Westport Fuel Systems from a “hold” rating to a “buy” rating in a research report on Thursday. ValuEngine upgraded Westport Fuel Systems from a “sell” rating to a “hold” rating in a research report on Wednesday. Oppenheimer Holdings, Inc. began coverage on Westport Fuel Systems in a research report on Wednesday. They issued an “outperform” rating and a $3.00 price target on the stock. Cowen and Company set a $2.00 price target on Westport Fuel Systems and gave the company a “hold” rating in a research report on Monday. Finally, HC Wainwright set a $5.00 price target on Westport Fuel Systems and gave the company a “buy” rating in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $2.69.

Westport Fuel Systems (NASDAQ WPRT) traded up 3.14% on Thursday, reaching $2.30. The company’s stock had a trading volume of 1,055,024 shares. Westport Fuel Systems has a 12 month low of $0.82 and a 12 month high of $2.65. The company’s market cap is $299.92 million. The company has a 50-day moving average price of $1.88 and a 200 day moving average price of $1.45.

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPT) last issued its earnings results on Monday, August 14th. The auto parts company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.03. Westport Fuel Systems had a negative return on equity of 65.98% and a negative net margin of 20.37%. The business had revenue of $62.10 million during the quarter, compared to analysts’ expectations of $58.44 million. During the same quarter in the prior year, the firm earned $0.05 EPS. The business’s revenue for the quarter was up 66.9% compared to the same quarter last year. On average, equities research analysts anticipate that Westport Fuel Systems will post ($0.47) EPS for the current fiscal year.

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A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Royal Bank of Canada increased its stake in shares of Westport Fuel Systems by 0.5% in the second quarter. Royal Bank of Canada now owns 72,049 shares of the auto parts company’s stock worth $169,000 after buying an additional 375 shares during the last quarter. Northern Trust Corp increased its stake in shares of Westport Fuel Systems by 0.5% in the second quarter. Northern Trust Corp now owns 68,774 shares of the auto parts company’s stock worth $161,000 after buying an additional 346 shares during the last quarter. Paradigm Capital Management Inc. NY acquired a new stake in shares of Westport Fuel Systems during the second quarter worth approximately $1,176,000. Royce & Associates LP increased its stake in shares of Westport Fuel Systems by 1.4% in the second quarter. Royce & Associates LP now owns 5,464,983 shares of the auto parts company’s stock worth $12,843,000 after buying an additional 73,000 shares during the last quarter. Finally, KCG Holdings Inc. increased its stake in shares of Westport Fuel Systems by 313.2% in the first quarter. KCG Holdings Inc. now owns 127,134 shares of the auto parts company’s stock worth $122,000 after buying an additional 96,365 shares during the last quarter. Institutional investors and hedge funds own 9.40% of the company’s stock.

About Westport Fuel Systems

Westport Fuel Systems Inc, 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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