Gates Industrial (GTES) Stock Forecast, Price & News

9 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Gates Industrial in the last year. There are currently 5 hold ratings and 4 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "hold" GTES shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in GTES, but not buy additional shares or sell existing shares.
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9 brokerages have issued 1 year price targets for Gates Industrial's stock. Their GTES share price forecasts range from $13.00 to $19.00. On average, they expect the company's share price to reach $15.45 in the next twelve months. This suggests a possible upside of 32.1% from the stock's current price.
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Gates Industrial's stock was trading at $11.41 at the beginning of the year. Since then, GTES stock has increased by 2.5% and is now trading at $11.70.
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Gates Industrial saw a increase in short interest during the month of April. As of April 30th, there was short interest totaling 3,470,000 shares, an increase of 6.1% from the April 15th total of 3,270,000 shares. Based on an average daily volume of 776,500 shares, the days-to-cover ratio is presently 4.5 days. Currently, 3.4% of the company's shares are short sold.
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The company is scheduled to release its next quarterly earnings announcement on Friday, August 4th 2023.
View our GTES earnings forecast.

Gates Industrial Corp PLC (NYSE:GTES) issued its quarterly earnings results on Sunday, November, 7th. The company reported $0.31 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.31. The business had revenue of $862.40 million for the quarter, compared to analysts' expectations of $855.45 million. Gates Industrial had a trailing twelve-month return on equity of 8.86% and a net margin of 6.08%. Gates Industrial's quarterly revenue was up 21.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.26 EPS.

ETFs with the largest weight of Gates Industrial (NYSE:GTES) stock in their portfolio include Adaptiv Select ETF (ADPV), Dimensional US Small Cap Value ETF (DFSV), Invesco FTSE RAFI US 1500 Small-Mid ETF (PRFZ), Unusual Whales Subversive Republican Trading ETF (KRUZ), iShares U.S. Industrials ETF (IYJ),

Gates Industrial issued an update on its second quarter 2023 earnings guidance on Friday, May, 5th. The company provided earnings per share guidance of for the period. The company issued revenue guidance of $915.00 million-$945.00 million, compared to the consensus revenue estimate of $937.95 million.

108 employees have rated Gates Industrial Chief Executive Officer Ivo Jurek on Glassdoor.com. Ivo Jurek has an approval rating of 54% among the company's employees. This puts Ivo Jurek in the bottom 25% of approval ratings compared to other CEOs of publicly-traded companies.

Based on aggregate information from My MarketBeat watchlists, some companies that other Gates Industrial investors own include NVIDIA (NVDA), Micron Technology (MU), Advanced Micro Devices (AMD), Alibaba Group (BABA), Bristol-Myers Squibb (BMY), B2Gold (BTG), Novavax (NVAX), Intel (INTC), Pure Storage (PSTG) and Boeing (BA).

(GTES) raised $751 million in an initial public offering (IPO) on Thursday, January 25th 2018. The company issued 38,500,000 shares at a price of $18.00-$21.00 per share. Citigroup, Morgan Stanley and UBS Investment Bank acted as the underwriters for the IPO and Barclays, Credit Suisse, Goldman Sachs, RBC Capital Markets, Blackstone Capital Markets, Deutsche Bank Securities, Wells Fargo Securities Current Capital Securities, KeyBanc Capital Markets, Siebert Cisneros Shank, SunTrust Robinson Humphrey, Academy Securities, BTIG and Guggenheim Securities were co-managers.

Gates Industrial trades on the New York Stock Exchange (NYSE) under the ticker symbol "GTES."

Gates Industrial's stock is owned by many different institutional and retail investors. Top institutional shareholders include Allspring Global Investments Holdings LLC (3.38%), Cooke & Bieler LP (2.35%), Dimensional Fund Advisors LP (2.16%), American Century Companies Inc. (2.03%), Diamond Hill Capital Management Inc. (1.73%) and JPMorgan Chase & Co. (1.61%). Insiders that own company stock include Aggregator (Cayman) LP Omaha, Blackstone Inc and Fredrik J Eliasson.
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Shares of GTES stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of GTES stock can currently be purchased for approximately $11.70.

Gates Industrial (NYSE:GTES) has a market capitalization of $3.30 billion and generates $3.55 billion in revenue each year. The company earns $220.80 million in net income (profit) each year or $0.76 on an earnings per share basis.

The company employs 15,000 workers across the globe.

Gates Industrial's mailing address is 1144 FIFTEENTH STREET, DENVER CO, 80202. The official website for the company is www.gates.com. The company can be reached via phone at 303-744-1911 or via email at investorrelations@gates.com.