Wall Street Zen upgraded shares of Gates Industrial (NYSE:GTES - Free Report) from a buy rating to a strong-buy rating in a research report sent to investors on Saturday morning.
Several other analysts also recently commented on GTES. Morgan Stanley reduced their target price on Gates Industrial from $24.00 to $22.00 and set an "equal weight" rating for the company in a research note on Thursday, May 1st. KeyCorp raised their price target on shares of Gates Industrial from $23.00 to $26.00 and gave the company an "overweight" rating in a research report on Monday, June 9th. Barclays lifted their price target on shares of Gates Industrial from $23.00 to $26.00 and gave the company an "overweight" rating in a report on Wednesday, July 9th. Royal Bank Of Canada boosted their price objective on shares of Gates Industrial from $22.00 to $23.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. Finally, The Goldman Sachs Group increased their price target on shares of Gates Industrial from $20.00 to $23.00 and gave the stock a "neutral" rating in a report on Tuesday, May 27th. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Gates Industrial has a consensus rating of "Moderate Buy" and an average target price of $24.44.
Get Our Latest Stock Analysis on GTES
Gates Industrial Stock Down 0.2%
NYSE:GTES traded down $0.05 during mid-day trading on Friday, hitting $24.56. 622,157 shares of the company's stock traded hands, compared to its average volume of 2,770,547. The company has a market capitalization of $6.33 billion, a P/E ratio of 30.01 and a beta of 1.22. The company has a fifty day moving average of $22.13 and a 200 day moving average of $20.58. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.35 and a current ratio of 3.33. Gates Industrial has a twelve month low of $14.70 and a twelve month high of $24.94.
Gates Industrial (NYSE:GTES - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.33 by $0.03. Gates Industrial had a return on equity of 10.15% and a net margin of 6.39%. The business had revenue of $847.60 million during the quarter, compared to analysts' expectations of $823.56 million. During the same period last year, the firm earned $0.31 EPS. The company's quarterly revenue was down 1.7% compared to the same quarter last year. On average, analysts forecast that Gates Industrial will post 1.36 EPS for the current year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in GTES. HighPoint Advisor Group LLC lifted its stake in shares of Gates Industrial by 3.2% during the fourth quarter. HighPoint Advisor Group LLC now owns 14,800 shares of the company's stock valued at $331,000 after acquiring an additional 452 shares during the period. EP Wealth Advisors LLC grew its stake in Gates Industrial by 3.6% in the fourth quarter. EP Wealth Advisors LLC now owns 14,468 shares of the company's stock valued at $298,000 after acquiring an additional 504 shares during the period. MetLife Investment Management LLC raised its stake in shares of Gates Industrial by 15.8% in the fourth quarter. MetLife Investment Management LLC now owns 4,157 shares of the company's stock valued at $86,000 after buying an additional 567 shares during the period. United Services Automobile Association boosted its holdings in shares of Gates Industrial by 4.8% in the 4th quarter. United Services Automobile Association now owns 14,054 shares of the company's stock worth $289,000 after purchasing an additional 646 shares in the last quarter. Finally, Personal CFO Solutions LLC raised its position in shares of Gates Industrial by 6.4% in the 1st quarter. Personal CFO Solutions LLC now owns 11,175 shares of the company's stock worth $206,000 after acquiring an additional 670 shares in the last quarter. 98.50% of the stock is currently owned by hedge funds and other institutional investors.
Gates Industrial Company Profile
(
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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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