Gates Industrial Corporation PLC (NYSE:GTES) Receives Average Rating of "Moderate Buy" from Analysts

Key Points

• Gates Industrial Corporation PLC (NYSE:GTES) has received a consensus rating of "Moderate Buy" from eleven analysts, with an average target price of $28.18.
• The company's recent earnings report showed an EPS of $0.39, beating expectations, and quarterly revenue of $883.7 million, although it was slightly down year-over-year.
• Institutional investors currently hold 98.50% of Gates Industrial's stock, with significant increases in holdings noted from several large financial firms in recent quarters.

Shares of Gates Industrial Corporation PLC (NYSE:GTES - Get Free Report) have been given an average rating of "Moderate Buy" by the eleven brokerages that are presently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $28.1818.

Several equities analysts recently commented on GTES shares. The Goldman Sachs Group raised their target price on Gates Industrial from $20.00 to $23.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 27th. Wall Street Zen upgraded Gates Industrial from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 12th. Industrial Alliance Securities set a $35.00 target price on Gates Industrial in a research report on Monday, August 25th. Barclays restated an "overweight" rating and set a $28.00 target price (up previously from $26.00) on shares of Gates Industrial in a research report on Monday, August 4th. Finally, UBS Group raised their target price on Gates Industrial from $27.00 to $30.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st.

Gates Industrial Price Performance

Shares of Gates Industrial stock traded down $0.01 during trading on Monday, hitting $25.93. The stock had a trading volume of 1,954,299 shares, compared to its average volume of 1,710,178. The company has a debt-to-equity ratio of 0.66, a current ratio of 3.46 and a quick ratio of 2.46. The firm has a market cap of $6.68 billion, a P/E ratio of 33.24 and a beta of 1.25. The business has a fifty day moving average of $24.66 and a two-hundred day moving average of $21.65. Gates Industrial has a fifty-two week low of $14.70 and a fifty-two week high of $26.42.

Gates Industrial (NYSE:GTES - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.01. Gates Industrial had a return on equity of 10.17% and a net margin of 5.98%.The firm had revenue of $883.70 million for the quarter, compared to analyst estimates of $873.34 million. During the same period in the previous year, the firm earned $0.36 earnings per share. Gates Industrial'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. On average, sell-side analysts expect that Gates Industrial will post 1.36 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Gates Industrial

Hedge funds and other institutional investors have recently made changes to their positions in the company. SVB Wealth LLC acquired a new stake in shares of Gates Industrial during the first quarter worth $34,000. Allworth Financial LP grew its stake in shares of Gates Industrial by 43.0% during the second quarter. Allworth Financial LP now owns 2,096 shares of the company's stock worth $48,000 after purchasing an additional 630 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in shares of Gates Industrial by 273.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,911 shares of the company's stock worth $67,000 after purchasing an additional 2,131 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of Gates Industrial by 1,976.9% during the second quarter. EverSource Wealth Advisors LLC now owns 2,970 shares of the company's stock worth $68,000 after purchasing an additional 2,827 shares during the period. Finally, Steph & Co. bought a new position in Gates Industrial during the second quarter worth about $70,000. 98.50% of the stock is owned by institutional investors and hedge funds.

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.