Gates Industrial Stock Price, News & Analysis (NYSE:GTES)

7 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Gates Industrial in the last year. There are currently 5 hold ratings and 2 buy ratings for the stock. The consensus among Wall Street equities 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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7 equities research analysts have issued 12 month price targets for Gates Industrial's shares. Their GTES share price targets range from $14.00 to $19.00. On average, they expect the company's share price to reach $15.39 in the next twelve months. This suggests a possible upside of 26.4% from the stock's current price.
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Gates Industrial's stock was trading at $11.41 at the beginning of 2023. Since then, GTES stock has increased by 6.7% and is now trading at $12.1750.
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Gates Industrial saw a increase in short interest during the month of November. As of November 15th, there was short interest totaling 4,270,000 shares, an increase of 49.3% from the October 31st total of 2,860,000 shares. Based on an average trading volume of 1,450,000 shares, the days-to-cover ratio is currently 2.9 days. Currently, 2.9% of the company's shares are short sold.
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The company is scheduled to release its next quarterly earnings announcement on Thursday, February 8th 2024.
View our GTES earnings forecast.

Gates Industrial Corp PLC (NYSE:GTES) issued its quarterly earnings data on Friday, November, 3rd. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.05. The firm had revenue of $872.90 million for the quarter, compared to analyst estimates of $883.50 million. Gates Industrial had a net margin of 7.08% and a trailing twelve-month return on equity of 9.20%.

Adaptiv Select ETF holds 132,771 shares of GTES stock, representing 3.28% of its portfolio.

Gates Industrial issued an update on its fourth quarter 2023 earnings guidance on Monday, November, 6th. The company provided earnings per share (EPS) guidance of for the period. The company issued revenue guidance of $855.00 million-$885.00 million, compared to the consensus revenue estimate of $885.56 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's stock is owned by a variety of institutional and retail investors. Top institutional investors include Blackstone Inc. (42.99%), Allspring Global Investments Holdings LLC (3.64%), American Century Companies Inc. (2.88%), AQR Capital Management LLC (2.67%), Diamond Hill Capital Management Inc. (1.86%) and FMR LLC (1.21%). 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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