Gates Industrial Corporation PLC (NYSE:GTES - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the twelve brokerages that are covering the stock, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $30.1818.
A number of equities analysts have recently issued reports on the company. UBS Group reissued a "buy" rating and set a $33.00 target price on shares of Gates Industrial in a research note on Friday, February 13th. Royal Bank Of Canada reissued an "outperform" rating and set a $31.00 target price on shares of Gates Industrial in a research note on Friday, February 13th. Wall Street Zen raised Gates Industrial from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 2nd. Morgan Stanley increased their target price on Gates Industrial from $25.00 to $27.00 and gave the stock an "equal weight" rating in a research note on Wednesday, March 11th. Finally, Citigroup increased their target price on Gates Industrial from $27.00 to $33.00 and gave the stock a "buy" rating in a research note on Friday, February 13th.
View Our Latest Report on GTES
Gates Industrial Stock Performance
Shares of GTES stock opened at $26.09 on Friday. The company has a market cap of $6.62 billion, a price-to-earnings ratio of 27.18 and a beta of 1.28. The stock has a 50 day simple moving average of $24.44 and a 200-day simple moving average of $23.73. Gates Industrial has a 12-month low of $20.39 and a 12-month high of $28.47. The company has a current ratio of 3.67, a quick ratio of 2.66 and a debt-to-equity ratio of 0.61.
Gates Industrial (NYSE:GTES - Get Free Report) last issued its earnings results on Friday, May 1st. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.32 by $0.03. The business had revenue of $851.10 million during the quarter, compared to the consensus estimate of $859.72 million. Gates Industrial had a return on equity of 10.00% and a net margin of 7.23%.The company's revenue for the quarter was up .4% on a year-over-year basis. During the same period in the prior year, the business posted $0.36 EPS. Gates Industrial has set its FY 2026 guidance at 1.520-1.680 EPS. On average, equities analysts forecast that Gates Industrial will post 1.53 EPS for the current year.
Institutional Investors Weigh In On Gates Industrial
A number of institutional investors and hedge funds have recently modified their holdings of the company. Allianz Asset Management GmbH acquired a new stake in Gates Industrial during the 3rd quarter valued at $2,033,000. Caprock Group LLC acquired a new stake in Gates Industrial during the 3rd quarter valued at $1,695,000. New York State Common Retirement Fund grew its holdings in Gates Industrial by 33.4% during the 3rd quarter. New York State Common Retirement Fund now owns 1,381,075 shares of the company's stock valued at $34,278,000 after buying an additional 345,552 shares during the last quarter. Handelsbanken Fonder AB grew its holdings in Gates Industrial by 61.4% during the 3rd quarter. Handelsbanken Fonder AB now owns 2,182,100 shares of the company's stock valued at $54,160,000 after buying an additional 830,000 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in Gates Industrial by 5.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 14,169,457 shares of the company's stock valued at $312,578,000 after buying an additional 717,353 shares during the last quarter. Institutional investors and hedge funds own 98.50% of the company's stock.
Gates Industrial Company Profile
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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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