Wall Street analysts forecast that Westport Fuel Systems Inc (NASDAQ:WPRT) (TSE:WPRT) will post $56.81 million in sales for the current quarter, according to Zacks. Two analysts have provided estimates for Westport Fuel Systems’ earnings, with the lowest sales estimate coming in at $51.50 million and the highest estimate coming in at $62.12 million. Westport Fuel Systems reported sales of $60.76 million in the same quarter last year, which would suggest a negative year over year growth rate of 6.5%. The business is expected to report its next earnings report on Tuesday, November 13th.
According to Zacks, analysts expect that Westport Fuel Systems will report full-year sales of $259.66 million for the current financial year, with estimates ranging from $245.10 million to $274.21 million. For the next financial year, analysts expect that the business will post sales of $291.35 million, with estimates ranging from $282.20 million to $300.50 million. Zacks’ sales averages are an average based on a survey of analysts that follow Westport Fuel Systems.
Westport Fuel Systems (NASDAQ:WPRT) (TSE:WPRT) last posted its quarterly earnings results on Thursday, August 9th. The auto parts company reported ($0.04) EPS for the quarter, meeting the consensus estimate of ($0.04). Westport Fuel Systems had a negative net margin of 17.94% and a negative return on equity of 40.52%. The business had revenue of $80.49 million during the quarter, compared to analyst estimates of $64.50 million.
Several research firms have recently commented on WPRT. HC Wainwright restated a “buy” rating and issued a $6.00 price target on shares of Westport Fuel Systems in a report on Thursday. Zacks Investment Research upgraded shares of Westport Fuel Systems from a “sell” rating to a “hold” rating in a report on Thursday, September 27th. BidaskClub lowered shares of Westport Fuel Systems from a “sell” rating to a “strong sell” rating in a report on Thursday, July 26th. Finally, Lake Street Capital boosted their price target on shares of Westport Fuel Systems from $5.00 to $6.00 and gave the company a “buy” rating in a report on Thursday, August 30th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. Westport Fuel Systems presently has a consensus rating of “Hold” and a consensus price target of $4.42.
Shares of NASDAQ:WPRT traded down $0.10 during trading hours on Monday, hitting $2.82. The company’s stock had a trading volume of 647,349 shares, compared to its average volume of 674,535. Westport Fuel Systems has a 52 week low of $2.10 and a 52 week high of $4.33. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.14 and a current ratio of 1.52. The firm has a market cap of $395.19 million, a P/E ratio of -6.41 and a beta of 2.27.
Several hedge funds and other institutional investors have recently bought and sold shares of WPRT. Manatuck Hill Partners LLC raised its stake in shares of Westport Fuel Systems by 143.0% during the 2nd quarter. Manatuck Hill Partners LLC now owns 2,386,362 shares of the auto parts company’s stock worth $6,037,000 after acquiring an additional 1,404,462 shares in the last quarter. Paradigm Capital Management Inc. NY raised its stake in shares of Westport Fuel Systems by 229.2% during the 2nd quarter. Paradigm Capital Management Inc. NY now owns 657,530 shares of the auto parts company’s stock worth $1,663,000 after acquiring an additional 457,780 shares in the last quarter. Cortina Asset Management LLC raised its stake in shares of Westport Fuel Systems by 20.6% during the 2nd quarter. Cortina Asset Management LLC now owns 1,928,576 shares of the auto parts company’s stock worth $4,879,000 after acquiring an additional 330,047 shares in the last quarter. Ardsley Advisory Partners raised its stake in shares of Westport Fuel Systems by 42.9% during the 2nd quarter. Ardsley Advisory Partners now owns 500,000 shares of the auto parts company’s stock worth $1,265,000 after acquiring an additional 150,000 shares in the last quarter. Finally, Granite Investment Partners LLC bought a new position in shares of Westport Fuel Systems during the 2nd quarter worth approximately $342,000. Hedge funds and other institutional investors own 22.51% of the company’s stock.
Westport Fuel Systems Company Profile
Westport Fuel Systems Inc engineers, manufactures, and supplies alternative fuel systems and components for the transportation and industrial markets worldwide. It operates through Transportation and Cummins Westport Inc Joint Venture segments. The company designs, manufactures, and sells compressed natural gas (CNG) and liquid petroleum gas (LPG) components and systems, such as pressure regulators, injectors, electronic control units, valves, and filters, as well as bi-fuel, mono-fuel, and dual-fuel LPG and CNG conversion kits for passenger cars, light-duty trucks, and medium-duty vehicles, including original engine manufacture (OEM), delayed OEM, and aftermarket segments.
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