Gates Industrial (NYSE:GTES - Get Free Report) was upgraded by stock analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research report issued on Wednesday,Zacks.com reports.
Several other brokerages also recently issued reports on GTES. Wall Street Zen upgraded Gates Industrial from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 12th. Morgan Stanley reduced their target price on shares of 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. Citigroup raised their price target on shares of Gates Industrial from $22.00 to $29.00 and gave the company a "buy" rating in a research report on Monday, July 14th. Royal Bank Of Canada upped their price objective on shares of Gates Industrial from $28.00 to $29.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Finally, KeyCorp reiterated an "overweight" rating and issued a $30.00 price objective (up previously from $26.00) on shares of Gates Industrial in a research note on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $26.67.
Get Our Latest Research Report on Gates Industrial
Gates Industrial Trading Up 0.9%
GTES opened at $24.2770 on Wednesday. The company has a fifty day moving average price of $23.92 and a two-hundred day moving average price of $21.39. Gates Industrial has a 1-year low of $14.70 and a 1-year high of $25.66. The company has a market cap of $6.25 billion, a P/E ratio of 31.12 and a beta of 1.24. 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 (NYSE:GTES - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $0.39 EPS for the quarter, beating analysts' consensus estimates of $0.38 by $0.01. The business had revenue of $883.70 million during the quarter, compared to analyst estimates of $873.34 million. Gates Industrial had a return on equity of 10.17% and a net margin of 5.98%.The firm's revenue was down .2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.36 EPS. Gates Industrial has set its FY 2025 guidance at 1.440-1.520 EPS. Analysts predict that Gates Industrial will post 1.36 EPS for the current fiscal year.
Institutional Investors Weigh In On Gates Industrial
A number of hedge funds have recently modified their holdings of the stock. EP Wealth Advisors LLC lifted its position in shares of Gates Industrial by 3.6% during the fourth quarter. EP Wealth Advisors LLC now owns 14,468 shares of the company's stock worth $298,000 after acquiring an additional 504 shares in the last quarter. MetLife Investment Management LLC lifted its holdings 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 worth $86,000 after buying an additional 567 shares in the last quarter. Allworth Financial LP boosted its position in shares of Gates Industrial by 43.0% in 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. Personal CFO Solutions LLC boosted its holdings in Gates Industrial by 6.4% in the 1st quarter. Personal CFO Solutions LLC now owns 11,175 shares of the company's stock valued at $206,000 after purchasing an additional 670 shares during the period. Finally, Utah Retirement Systems grew its position in shares of Gates Industrial by 6.4% during the 4th quarter. Utah Retirement Systems now owns 11,700 shares of the company's stock valued at $241,000 after purchasing an additional 700 shares in the last quarter. Institutional investors own 98.50% of the company's stock.
About Gates Industrial
(
Get Free Report)
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Gates Industrial, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Gates Industrial wasn't on the list.
While Gates Industrial currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
MarketBeat All Access