Gates Industrial Corporation PLC (NYSE:GTES) Given Consensus Recommendation of "Moderate Buy" by 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.
• Institutional investors have significantly increased their positions in Gates Industrial, with 98.50% of the stock currently owned by hedge funds and other institutional investors.
• The company reported earnings of $0.39 per share for the last quarter, surpassing expectations and setting its FY 2025 guidance between $1.440-1.520 EPS.

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

A number of brokerages recently commented on GTES. UBS Group raised their target price on Gates Industrial from $27.00 to $30.00 and gave the company a "buy" rating in a report on Thursday, July 31st. KeyCorp restated an "overweight" rating and set a $30.00 target price (up from $26.00) on shares of Gates Industrial in a report on Thursday, July 31st. Royal Bank Of Canada raised their target price on Gates Industrial from $28.00 to $29.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Wall Street Zen raised Gates Industrial from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 12th. Finally, Industrial Alliance Securities set a $35.00 price target on Gates Industrial in a research report on Monday, August 25th.

Institutional Trading of Gates Industrial

A number of institutional investors have recently bought and sold shares of GTES. SVB Wealth LLC purchased a new stake in Gates Industrial during the first quarter valued at about $34,000. Allworth Financial LP grew its position in Gates Industrial by 43.0% during the second quarter. Allworth Financial LP now owns 2,096 shares of the company's stock valued at $48,000 after acquiring an additional 630 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in Gates Industrial by 273.2% during 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 period. EverSource Wealth Advisors LLC grew its position in Gates Industrial by 1,976.9% during the second quarter. EverSource Wealth Advisors LLC now owns 2,970 shares of the company's stock valued at $68,000 after acquiring an additional 2,827 shares during the period. Finally, Steph & Co. purchased a new stake in Gates Industrial during the second quarter valued at about $70,000. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

Gates Industrial Trading Up 0.6%

Gates Industrial stock opened at $24.48 on Friday. The company has a current ratio of 3.46, a quick ratio of 2.46 and a debt-to-equity ratio of 0.66. Gates Industrial has a 12 month low of $14.70 and a 12 month high of $26.42. The stock's 50 day simple moving average is $24.99 and its two-hundred day simple moving average is $22.06. The firm has a market cap of $6.30 billion, a PE ratio of 31.38 and a beta of 1.25.

Gates Industrial (NYSE:GTES - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $0.39 earnings per share for the quarter, topping 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 business had revenue of $883.70 million during the quarter, compared to the consensus estimate of $873.34 million. During the same period in the prior year, the company posted $0.36 EPS. The business'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. Analysts anticipate that Gates Industrial will post 1.36 earnings per share for the current year.

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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