Westport Fuel Systems Inc (NASDAQ:WPRT) (TSE:WPRT) had its price target raised by analysts at Oppenheimer Holdings, Inc. from $3.00 to $3.50 in a note issued to investors on Wednesday. The firm presently has an “outperform” rating on the auto parts company’s stock. Oppenheimer Holdings, Inc.’s price target suggests a potential upside of 16.67% from the company’s current price.

A number of other research firms have also recently issued reports on WPRT. Zacks Investment Research raised Westport Fuel Systems from a “hold” rating to a “buy” rating and set a $4.25 price target for the company in a report on Thursday, October 12th. Lake Street Capital lifted their price target on Westport Fuel Systems from $3.00 to $5.00 and gave the company a “hold” rating in a report on Thursday, October 5th. ValuEngine cut Westport Fuel Systems from a “hold” rating to a “sell” rating in a report on Friday, September 1st. BidaskClub raised Westport Fuel Systems from a “hold” rating to a “buy” rating in a report on Thursday, August 17th. Finally, CIBC began coverage on Westport Fuel Systems in a report on Thursday, August 17th. They issued an “outperform” rating and a $3.00 price target for the company. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $3.38.

Westport Fuel Systems (NASDAQ WPRT) traded down $0.08 during trading on Wednesday, hitting $3.00. The company had a trading volume of 1,152,300 shares, compared to its average volume of 897,276. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.34 and a quick ratio of 1.00. Westport Fuel Systems has a fifty-two week low of $0.82 and a fifty-two week high of $4.09.

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) last released its quarterly earnings results on Tuesday, November 14th. The auto parts company reported ($0.12) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate 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 $60.80 million during the quarter, compared to analysts’ expectations of $51.91 million. During the same period in the previous year, the business posted ($0.30) earnings per share. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. sell-side analysts predict that Westport Fuel Systems will post -0.51 EPS for the current fiscal year.

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Hedge funds have recently made changes to their positions in the stock. Wells Fargo & Company MN increased its position in Westport Fuel Systems by 496.2% in the first quarter. Wells Fargo & Company MN now owns 108,054 shares of the auto parts company’s stock worth $103,000 after purchasing an additional 89,931 shares during the period. KCG Holdings Inc. increased its position in 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 purchasing an additional 96,365 shares during the period. Northern Trust Corp increased its position in 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 purchasing an additional 346 shares during the period. Royal Bank of Canada increased its position in 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 purchasing an additional 375 shares during the period. Finally, Paradigm Capital Management Inc. NY acquired a new stake in Westport Fuel Systems in the second quarter worth about $1,176,000. Hedge funds and other institutional investors own 10.59% 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.

Analyst Recommendations for Westport Fuel Systems (NASDAQ:WPRT)

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