Gates Industrial Corp PLC (NYSE:GTES) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Shares of Gates Industrial Corp PLC (NYSE:GTES - Get Free Report) have been given an average recommendation of "Moderate Buy" by the nine analysts that are currently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $22.67.

Several equities analysts recently issued reports on GTES shares. Evercore ISI raised their price target on Gates Industrial from $22.00 to $23.00 and gave the company an "in-line" rating in a report on Wednesday, February 19th. Royal Bank of Canada raised their price target on Gates Industrial from $25.00 to $27.00 and gave the company an "outperform" rating in a report on Friday, February 7th. KeyCorp decreased their price target on Gates Industrial from $27.00 to $21.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Barclays decreased their price target on Gates Industrial from $25.00 to $22.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Finally, The Goldman Sachs Group reduced their target price on Gates Industrial from $26.00 to $23.00 and set a "neutral" rating on the stock in a report on Wednesday, March 19th.

Gates Industrial Stock Performance

Shares of NYSE:GTES opened at $18.03 on Tuesday. Gates Industrial has a twelve month low of $14.70 and a twelve month high of $23.85. The firm has a market cap of $4.65 billion, a PE ratio of 24.70 and a beta of 1.24. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.26 and a current ratio of 3.20. The business has a fifty day moving average of $18.81 and a 200-day moving average of $20.12.

Gates Industrial (NYSE:GTES - Get Free Report) last announced its earnings results on Thursday, February 13th. The company reported $0.33 earnings per share for the quarter, meeting analysts' consensus estimates of $0.33. Gates Industrial had a return on equity of 9.75% and a net margin of 5.72%. On average, equities research analysts predict that Gates Industrial will post 1.36 EPS for the current fiscal year.

Insider Transactions at Gates Industrial

In other Gates Industrial news, Director Fredrik J. Eliasson purchased 60,000 shares of the company's stock in a transaction dated Friday, March 7th. The shares were bought at an average price of $19.56 per share, with a total value of $1,173,600.00. Following the completion of the transaction, the director now directly owns 188,452 shares in the company, valued at $3,686,121.12. This trade represents a 46.71 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Gates Industrial

A number of large investors have recently bought and sold shares of the company. Franklin Resources Inc. boosted its holdings in Gates Industrial by 138.0% during the third quarter. Franklin Resources Inc. now owns 3,829,155 shares of the company's stock worth $68,159,000 after purchasing an additional 2,220,277 shares during the last quarter. Principal Financial Group Inc. grew its position in Gates Industrial by 6,879.6% in the third quarter. Principal Financial Group Inc. now owns 1,063,838 shares of the company's stock valued at $18,670,000 after purchasing an additional 1,048,596 shares in the last quarter. Versant Capital Management Inc grew its position in Gates Industrial by 178.3% in the fourth quarter. Versant Capital Management Inc now owns 2,494 shares of the company's stock valued at $51,000 after purchasing an additional 1,598 shares in the last quarter. GAMMA Investing LLC grew its position in Gates Industrial by 29.0% in the fourth quarter. GAMMA Investing LLC now owns 5,026 shares of the company's stock valued at $103,000 after purchasing an additional 1,130 shares in the last quarter. Finally, Oliver Luxxe Assets LLC bought a new position in Gates Industrial in the fourth quarter valued at $1,665,000. Institutional investors and hedge funds own 98.50% of the company's stock.

Gates Industrial Company 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.

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