Mon, Jun. 29, 10:38 AM
- Select auto supplier stocks are feeling the sharpest pinch in the consumer goods sector from the developments in Greece.
- Westport Innovations (WPRT -4.6%), Delphi Automotive (DLPH -3.3%), and Tower International (TOWR -1.8%) are all trading weaker than broad averages.
- Goodyear Tire & Rubber (GT -3.4%) and Cooper Tire & Rubber (CTB -1.8%) are also feeling pressure.
Fri, May 29, 10:39 AM
- Automobile industry supplier stocks are tilting lower after WABCO and Modine Manufacturing issued guidance below the expectations of analysts.
- F/X pressure and some uncertainty in the markets in Brazil and China are weighing on the sector.
- Decliners: WABCO (NYSE:WBC) -2.9%, Modine Manufacturing (NYSE:MOD) -2.5%, Meritor (NYSE:MTOR) -2.4%, Motorcar Parts of America (NASDAQ:MPAA) -2.3%, Westport Innovations (NASDAQ:WPRT) -2.0%, Federal-Mogul (NASDAQ:FDML) -1.8%, Stoneridge (NYSE:SRI) -1.3%, Lydall (NYSE:LDL) -1.3%, Cooper-Standard Holdings (NYSE:CPS) -1.2%.
Mon, May 4, 12:21 PM
Tue, Mar. 10, 12:45 PM
Tue, Mar. 10, 10:31 AM
- Westport Innovations (WPRT -15.5%) is sharply lower after posting a larger than expected Q4 loss of $1.02/share, compared with a loss of $1.42 a year earlier, as revenue fell 48% Y/Y to $27.4M.
- WPRT says it is facing stronger economic headwinds than it had expected, and now anticipates reaching breakeven on an adjusted EBITDA basis in mid-2016 while seeing FY 2015 revenues of $110M-$125M vs. its prior forecast of $128M and below analyst consensus estimate of $143M.
- Jefferies cuts its stock price target to $5 from $7 following WPRT's outlook that highlights challenging end-market conditions and aggressive measures to control costs; Northland Capital lowers its target to $5.50 from $6 following the results and guidance.
Tue, Mar. 10, 9:19 AM
Mon, Mar. 9, 5:40 PM
Mon, Mar. 9, 10:14 AM
Mon, Mar. 2, 1:57 PM
- There's a broad rally in auto parts stocks underway after a strong read on sales in some key European markets.
- Sales in Spain rose 26% Y/Y in February, while sales improved 7% in Germany and 4.1% in France.
- February U.S. sales are due to be reported tomorrow by manufacturers.
- Gainers: Federal-Mogul (NASDAQ:FDML)+4.1%, Westport Innovations (NASDAQ:WPRT) +2.6%, Modine Manufacturing (NYSE:MOD) +2.6%, Dana Holding (NYSE:DAN) +2.5%, Visteon (NYSE:VC) +2.4%, BorgWarner (NYSE:BWA) +2.4%, Lear (NYSE:LEA) +2.4%, Lydall (NYSE:LDL) +2.2%, Johnson Controls (NYSE:JCI) +2.2%, Delphi Automotive (NYSE:DLPH) +2.0%.
Tue, Feb. 10, 11:40 AM
Mon, Feb. 9, 12:46 PM
Wed, Feb. 4, 12:44 PM
Dec. 1, 2014, 12:41 PM
- Westport Innovations (WPRT -14%) is downgraded to Hold from Buy with a $5.25 price target, lowered from $7.25, at Jefferies, which expects investors to focus on WPRT's cash burn and headwinds to vehicle adoption until oil prices move back above $100/bbl or the company's new product pipeline translates into renewed sales growth above a 20% compound average growth rate.
- The firm suggests early-stage investors focus on companies with positive catalysts likely to occur in the near-term, such as Solazyme, which it currently rates at Buy.
Oct. 31, 2014, 12:47 PM
- Westport Innovations (WPRT -3%) is lower after posting a lighter than expected Q3 loss but revenues fell 45% Y/Y and operating expenses rose 61%.
- Deutsche Bank downgrades shares to Hold from Buy with an $8 price target, down from $12, seeing a weak oil price environment impacting near-term adoption of natural gas vehicles and uncertainty about timing of cash flow breakeven.
- The firm expects shares to remain range-bound until seeing more evidence of EBITDA improvement or OEM/product announcements.
Oct. 30, 2014, 4:08 PM
Oct. 1, 2014, 3:16 PM
- Westport Innovations (WPRT -25.1%), already reeling after cutting its revenue guidance, is downgraded to Hold from Buy with a $20 price target, down from $45, at Lake Street Capital.
- WPRT had made strides in reducing costs and introducing next-generation products, the firm says, but the launch of key new programs - Volvo and Weichai-HPDI - now looks to be pushed out 12 months as HPDI 2.0 injectors are launched and incorporated into engine designs.
- Lake Street believes several months could pass before improvement is clear, with limited near-term catalysts and lower growth ahead while WPRT works through the transition; shares can recover later in 2015 as WPRT executes and demonstrates resumed revenue growth and new engine rollouts.
WPRT vs. ETF Alternatives
Westport Innovations Inc is a provider of high-performance, low-emission engine and fuel system technologies utilizing gaseous fuels.Its segments include On-Road Systems, Applied Technologies, and Corporate and Technology Investments.
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