Sciencast Management LP Buys New Stake 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) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 11,400 shares of the company's stock, valued at approximately $210,000.

Several other institutional investors and hedge funds have also recently modified their holdings of GTES. BNP Paribas Financial Markets increased its stake in shares of Gates Industrial by 113.1% in the 4th quarter. BNP Paribas Financial Markets now owns 14,591 shares of the company's stock valued at $300,000 after purchasing an additional 7,745 shares in the last quarter. Baird Financial Group Inc. purchased a new stake in Gates Industrial during the 4th quarter worth approximately $600,000. Captrust Financial Advisors increased its stake in Gates Industrial by 11.7% during the 4th quarter. Captrust Financial Advisors now owns 50,918 shares of the company's stock worth $1,047,000 after buying an additional 5,319 shares in the last quarter. Cetera Investment Advisers increased its stake in Gates Industrial by 29.4% during the 4th quarter. Cetera Investment Advisers now owns 43,861 shares of the company's stock worth $902,000 after buying an additional 9,971 shares in the last quarter. Finally, EP Wealth Advisors LLC increased its stake in Gates Industrial by 3.6% during the 4th quarter. EP Wealth Advisors LLC now owns 14,468 shares of the company's stock worth $298,000 after buying an additional 504 shares in the last quarter. Hedge funds and other institutional investors own 98.50% of the company's stock.

Gates Industrial Trading Up 0.1%

NYSE:GTES traded up $0.03 during trading hours on Monday, reaching $25.65. 244,071 shares of the stock were exchanged, compared to its average volume of 2,247,346. The company has a quick ratio of 2.46, a current ratio of 3.46 and a debt-to-equity ratio of 0.66. The business has a 50-day moving average of $24.84 and a two-hundred day moving average of $21.76. Gates Industrial Corporation PLC has a twelve month low of $14.70 and a twelve month high of $26.42. The company has a market capitalization of $6.61 billion, a price-to-earnings ratio of 32.89 and a beta of 1.25.

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

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on GTES shares. Industrial Alliance Securities set a $35.00 target price on Gates Industrial in a report on Monday, August 25th. Wall Street Zen upgraded Gates Industrial from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 12th. Royal Bank Of Canada boosted their target price on Gates Industrial from $28.00 to $29.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. UBS Group upped their price objective on Gates Industrial from $27.00 to $30.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Finally, Zacks Research upgraded Gates Industrial from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Gates Industrial presently has a consensus rating of "Moderate Buy" and an average target price of $28.18.

About Gates Industrial

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.