Sciencast Management LP Invests $210,000 in Gates Industrial Corporation PLC $GTES

Key Points

• Sciencast Management LP acquired 11,400 shares of Gates Industrial, valued at approximately $210,000, highlighting increased institutional interest in the company.
• Brokerage firms have raised their price targets for Gates Industrial, with Royal Bank of Canada setting it at $29.00 and JPMorgan Chase at $35.00, reflecting a general optimism in the stock's potential.
• Gates Industrial reported a Q2 earnings per share of $0.39, surpassing expectations, while also forecasting a FY 2025 EPS of 1.440-1.520.

Sciencast Management LP purchased a new stake in Gates Industrial Corporation PLC (NYSE:GTES - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 11,400 shares of the company's stock, valued at approximately $210,000.

Several other hedge funds have also modified their holdings of the stock. EP Wealth Advisors LLC raised its position in Gates Industrial by 3.6% in the 4th quarter. EP Wealth Advisors LLC now owns 14,468 shares of the company's stock worth $298,000 after purchasing an additional 504 shares during the last quarter. Personal CFO Solutions LLC raised its position in Gates Industrial by 6.4% in the 1st quarter. Personal CFO Solutions LLC now owns 11,175 shares of the company's stock worth $206,000 after purchasing an additional 670 shares during the last quarter. Xponance Inc. raised its position in Gates Industrial by 8.7% in the 1st quarter. Xponance Inc. now owns 11,359 shares of the company's stock worth $209,000 after purchasing an additional 909 shares during the last quarter. Oppenheimer Asset Management Inc. raised its position in Gates Industrial by 1.3% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 78,370 shares of the company's stock worth $1,443,000 after purchasing an additional 1,015 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position in Gates Industrial by 3.5% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 39,815 shares of the company's stock worth $819,000 after purchasing an additional 1,363 shares during the last quarter. 98.50% of the stock is owned by institutional investors.

Gates Industrial Trading Down 1.4%

NYSE:GTES traded down $0.37 during trading hours on Friday, hitting $25.68. The stock had a trading volume of 1,921,051 shares, compared to its average volume of 1,737,540. Gates Industrial Corporation PLC has a one year low of $14.70 and a one year high of $26.42. The company has a debt-to-equity ratio of 0.66, a quick ratio of 2.46 and a current ratio of 3.46. The company has a market cap of $6.61 billion, a price-to-earnings ratio of 32.92 and a beta of 1.25. The business's 50 day moving average is $24.84 and its 200-day moving average is $21.76.

Gates Industrial (NYSE:GTES - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.38 by $0.01. Gates Industrial had a net margin of 5.98% and a return on equity of 10.17%. The firm had revenue of $883.70 million during the quarter, compared to the consensus estimate of $873.34 million. During the same quarter in the prior year, the firm earned $0.36 earnings per share. The business's quarterly revenue was down .2% on a year-over-year basis. Gates Industrial has set its FY 2025 guidance at 1.440-1.520 EPS. Sell-side analysts anticipate that Gates Industrial Corporation PLC will post 1.36 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on GTES. Barclays restated an "overweight" rating and issued a $28.00 price objective (up previously from $26.00) on shares of Gates Industrial in a research report on Monday, August 4th. Industrial Alliance Securities set a $35.00 price objective on shares of Gates Industrial in a report on Monday, August 25th. Royal Bank Of Canada increased their price objective on shares of Gates Industrial from $28.00 to $29.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. The Goldman Sachs Group increased their price objective on shares of Gates Industrial from $20.00 to $23.00 and gave the company a "neutral" rating in a report on Tuesday, May 27th. Finally, UBS Group increased their price objective on shares of Gates Industrial from $27.00 to $30.00 and gave the company a "buy" rating in a report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $28.18.

Gates Industrial Profile

Gates Industrial Corporation PLC designs and manufactures power transmission equipment. Its products serves harsh and hazardous industries such as agriculture, construction, manufacturing and energy, to everyday consumer applications such as printers, power washers, automatic doors and vacuum cleaners and virtually every form of transportation.