Royal Bank of Canada Lowers Westport Fuel Systems (NASDAQ:WPRT) Price Target to $8.00

Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) had its target price lowered by analysts at Royal Bank of Canada from $9.00 to $8.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has a “sector perform” rating on the auto parts company’s stock. Royal Bank of Canada’s price objective points to a potential upside of 42.86% from the company’s previous close.

A number of other brokerages have also issued reports on WPRT. StockNews.com upgraded shares of Westport Fuel Systems from a “sell” rating to a “hold” rating in a research report on Wednesday. HC Wainwright restated a “buy” rating and issued a $22.00 price objective on shares of Westport Fuel Systems in a research note on Tuesday, June 4th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $14.13.

Westport Fuel Systems Stock Performance

NASDAQ WPRT opened at $5.60 on Thursday. The company has a fifty day moving average of $5.87 and a two-hundred day moving average of $5.95. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.84 and a quick ratio of 1.40. Westport Fuel Systems has a 1 year low of $4.90 and a 1 year high of $7.95. The company has a market capitalization of $96.18 million, a PE ratio of -1.84 and a beta of 2.85.

Hedge Funds Weigh In On Westport Fuel Systems

A number of large investors have recently bought and sold shares of the company. Grace & White Inc. NY increased its stake in shares of Westport Fuel Systems by 31.4% during the fourth quarter. Grace & White Inc. NY now owns 525,451 shares of the auto parts company’s stock worth $3,478,000 after acquiring an additional 125,575 shares during the period. AMH Equity Ltd raised its stake in shares of Westport Fuel Systems by 52.9% during the 4th quarter. AMH Equity Ltd now owns 250,000 shares of the auto parts company’s stock worth $1,655,000 after buying an additional 86,460 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in shares of Westport Fuel Systems in the second quarter valued at approximately $67,000. Hedge funds and other institutional investors own 21.30% of the company’s stock.

Westport Fuel Systems Company Profile

Westport Fuel Systems Inc engages in the engineering, manufacturing, and supplying alternative fuel systems and components for use in transportation applications in Europe, Asia, North America, South America, and internationally. The company operates through two segments, Original Equipment Manufacturers and Independent Aftermarket.