Gates Industrial Corporation PLC (NYSE:GTES - Get Free Report) has been given an average recommendation of "Moderate Buy" by the twelve research firms that are covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $33.00.
Several research analysts have recently weighed in on the stock. KeyCorp upped their price target on shares of Gates Industrial from $31.00 to $34.00 and gave the stock an "overweight" rating in a report on Monday, August 3rd. Wells Fargo & Company lifted their price objective on Gates Industrial from $26.00 to $30.00 and gave the company an "equal weight" rating in a research note on Monday, August 3rd. Wall Street Zen upgraded Gates Industrial from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 8th. Royal Bank Of Canada upped their target price on Gates Industrial from $33.00 to $34.00 and gave the stock an "outperform" rating in a research note on Monday, August 3rd. Finally, Citigroup lifted their price target on Gates Industrial from $33.00 to $35.00 and gave the company a "buy" rating in a research report on Monday, August 3rd.
Get Our Latest Research Report on GTES
Insider Buying and Selling at Gates Industrial
In related news, Director Peifang Zhang sold 6,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $29.56, for a total value of $177,360.00. Following the sale, the director directly owned 44,044 shares of the company's stock, valued at $1,301,940.64. This trade represents a 11.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 2.80% of the company's stock.
Hedge Funds Weigh In On Gates Industrial
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Empowered Funds LLC purchased a new stake in shares of Gates Industrial during the 1st quarter valued at $381,000. Creative Planning grew its position in Gates Industrial by 53.9% in the second quarter. Creative Planning now owns 15,435 shares of the company's stock worth $355,000 after acquiring an additional 5,404 shares in the last quarter. Prudential Financial Inc. grew its position in Gates Industrial by 52.7% in the second quarter. Prudential Financial Inc. now owns 17,940 shares of the company's stock worth $389,000 after acquiring an additional 6,190 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Gates Industrial by 273.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,911 shares of the company's stock valued at $67,000 after acquiring an additional 2,131 shares during the last quarter. Finally, M&T Bank Corp increased its stake in Gates Industrial by 8.6% in the second quarter. M&T Bank Corp now owns 11,801 shares of the company's stock valued at $272,000 after acquiring an additional 937 shares during the last quarter. Hedge funds and other institutional investors own 98.50% of the company's stock.
Gates Industrial Stock Down 0.0%
Shares of NYSE GTES opened at $27.75 on Monday. The company has a debt-to-equity ratio of 0.58, a current ratio of 3.24 and a quick ratio of 2.36. The stock has a market capitalization of $7.02 billion, a PE ratio of 19.68 and a beta of 1.25. Gates Industrial has a one year low of $20.88 and a one year high of $30.34. The business's fifty day moving average price is $27.27 and its 200-day moving average price is $25.80.
Gates Industrial (NYSE:GTES - Get Free Report) last posted its earnings results on Friday, July 31st. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.02. Gates Industrial had a return on equity of 10.11% and a net margin of 10.37%.The firm had revenue of $941.60 million for the quarter, compared to the consensus estimate of $927.28 million. During the same quarter in the prior year, the business posted $0.39 earnings per share. The business's quarterly revenue was up 6.6% on a year-over-year basis. Gates Industrial has set its FY 2026 guidance at 1.620-1.700 EPS. On average, equities research analysts anticipate that Gates Industrial will post 1.53 EPS for the current year.
About Gates Industrial
(
Get Free Report)
Gates Industrial Corporation PLC NYSE: GTES is a leading global manufacturer of engineered power transmission belts and fluid power products. The company's portfolio includes synchronous belts, V-belts, hose assemblies, fittings and hydraulic components designed to support a wide range of industrial and automotive applications. Gates Industrial serves sectors such as agriculture, mining, construction, manufacturing, transportation and consumer markets, offering solutions that improve performance, reliability and efficiency in demanding operating environments.
In its power transmission segment, Gates Industrial produces high-strength belts engineered for precise motion control and minimal maintenance.
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