Gates Industrial (NYSE:GTES) Price Target Raised to $34.00

Key Points

• JPMorgan raised Gates Industrial’s price target from $32 to $34 and maintained an “overweight” rating, implying 18.84% upside from the prior close.
• Analyst sentiment remains favorable, with eight Buy ratings and four Holds producing a “Moderate Buy” consensus and average price target of $32.82. KeyCorp also raised its target to $34, while Wells Fargo lifted its target to $30 but kept an “equal weight” rating.
• Gates Industrial exceeded quarterly expectations, reporting $0.44 in earnings per share versus the $0.42 consensus and revenue of $941.6 million versus estimates of $927.28 million. Institutional investors own approximately 98.5% of the company’s stock.

Gates Industrial (NYSE:GTES - Get Free Report) had its price target raised by equities researchers at JPMorgan Chase & Co. from $32.00 to $34.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s target price points to a potential upside of 18.84% from the stock's previous close.

A number of other equities research analysts have also weighed in on GTES. Citigroup restated a "buy" rating on shares of Gates Industrial in a research report on Monday. Wolfe Research reiterated an "outperform" rating and issued a $33.00 target price on shares of Gates Industrial in a research report on Thursday, July 9th. KeyCorp lifted their price target on Gates Industrial from $31.00 to $34.00 and gave the company an "overweight" rating in a research note on Monday. Wells Fargo & Company boosted their price target on Gates Industrial from $26.00 to $30.00 and gave the stock an "equal weight" rating in a report on Monday. Finally, Wall Street Zen downgraded Gates Industrial from a "buy" rating to a "hold" rating in a research note on Saturday, July 25th. Eight investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Gates Industrial presently has an average rating of "Moderate Buy" and an average price target of $32.82.

Gates Industrial Price Performance

GTES stock traded up $0.63 during trading on Monday, reaching $28.61. 748,490 shares of the company were exchanged, compared to its average volume of 2,262,717. The company has a 50-day moving average of $26.70 and a two-hundred day moving average of $25.40. The company has a market capitalization of $7.27 billion, a price-to-earnings ratio of 20.28 and a beta of 1.25. Gates Industrial has a twelve month low of $20.88 and a twelve month high of $29.17. The company has a debt-to-equity ratio of 0.58, a current ratio of 3.24 and a quick ratio of 2.36.

Gates Industrial (NYSE:GTES - Get Free Report) last issued its earnings results on Friday, July 31st. The company reported $0.44 earnings per share for the quarter, beating analysts' consensus estimates of $0.42 by $0.02. The firm had revenue of $941.60 million for the quarter, compared to analyst estimates of $927.28 million. Gates Industrial had a net margin of 10.37% and a return on equity of 10.11%. The company's quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter last year, the business posted $0.39 earnings per share. Gates Industrial has set its FY 2026 guidance at 1.620-1.700 EPS. As a group, equities analysts predict that Gates Industrial will post 1.53 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Gates Industrial

Several institutional investors have recently made changes to their positions in GTES. Wedge Capital Management L L P NC boosted its position in shares of Gates Industrial by 5.0% during the 2nd quarter. Wedge Capital Management L L P NC now owns 678,551 shares of the company's stock worth $18,979,000 after purchasing an additional 32,065 shares in the last quarter. Legacy Wealth Asset Management LLC bought a new stake in Gates Industrial in the 2nd quarter valued at about $206,000. Gradient Investments LLC acquired a new position in Gates Industrial during the 2nd quarter worth approximately $862,000. GAMMA Investing LLC raised its stake in Gates Industrial by 32.0% during the 2nd quarter. GAMMA Investing LLC now owns 15,425 shares of the company's stock worth $431,000 after buying an additional 3,741 shares during the period. Finally, Parallel Advisors LLC boosted its holdings in Gates Industrial by 37.7% in the first quarter. Parallel Advisors LLC now owns 2,536 shares of the company's stock worth $57,000 after acquiring an additional 694 shares in the last quarter. Institutional investors and hedge funds own 98.50% of the company's stock.

Gates Industrial Company Profile

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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