Gates Industrial Stock Forecast, Price & News

Gates Industrial's stock was trading at $8.78 on March 11th, 2020 when Coronavirus reached pandemic status according to the World Health Organization (WHO). Since then, GTES shares have increased by 25.9% and is now trading at $11.05.
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8 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Gates Industrial in the last year. There are currently 3 hold ratings and 5 buy ratings for the stock, resulting in a consensus recommendation of "Buy."
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Gates Industrial is scheduled to release its next quarterly earnings announcement on Tuesday, November 3rd 2020.
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Gates Industrial Corp PLC (NYSE:GTES) posted its earnings results on Tuesday, August, 4th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the Zacks' consensus estimate of ($0.04) by $0.07. The business earned $576.50 million during the quarter, compared to analysts' expectations of $567.66 million. Gates Industrial had a return on equity of 6.38% and a net margin of 2.47%. The firm's revenue for the quarter was down 28.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.26 EPS.
View Gates Industrial's earnings history.

8 brokerages have issued 12 month price targets for Gates Industrial's stock. Their forecasts range from $8.00 to $16.00. On average, they expect Gates Industrial's stock price to reach $12.50 in the next year. This suggests a possible upside of 13.1% from the stock's current price.
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Gates Industrial saw a decrease in short interest during the month of August. As of August 31st, there was short interest totaling 520,000 shares, a decrease of 31.9% from the August 15th total of 764,000 shares. Based on an average daily trading volume, of 241,900 shares, the short-interest ratio is presently 2.1 days. Approximately 1.2% of the company's stock are sold short.
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Some companies that are related to Gates Industrial include Gardner Denver (GDI), IMI PLC/S (IMIAY), Rexnord (RXN), Graham (GHM), Twin Disc (TWIN) and China Cable and Communication (GTEC).
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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 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 served 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 a variety of retail and institutional investors. Top institutional shareholders include Blackstone Group Inc (84.93%), Vanguard Group Inc. (1.37%), Neuberger Berman Group LLC (0.70%), Prudential Financial Inc. (0.54%), Nuveen Asset Management LLC (0.25%) and Confluence Investment Management LLC (0.23%). Company insiders that own Gates Industrial stock include Aggregator (Cayman) LP Omaha, Blackstone Group Inc, Grant Gawronski, Ivo Jurek, Jamey S Seely and Walter Lifsey.
View institutional ownership trends for Gates Industrial.

GTES stock was sold by a variety of institutional investors in the last quarter, including Cooke & Bieler LP, Prudential Financial Inc., Vanguard Group Inc., UBS Group AG, AQR Capital Management LLC, Bank of America Corp DE, Alps Advisors Inc., and Advisory Services Network LLC.
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GTES stock was acquired by a variety of institutional investors in the last quarter, including Blackstone Group Inc, Handelsbanken Fonder AB, Nuveen Asset Management LLC, Neuberger Berman Group LLC, Strs Ohio, Russell Investments Group Ltd., Goldman Sachs Group Inc., and New York State Common Retirement Fund. Company insiders that have bought Gates Industrial stock in the last two years include Aggregator (Cayman) LP Omaha, Blackstone Group Inc, Grant Gawronski, Ivo Jurek, Jamey S Seely, and Walter Lifsey.
View insider buying and selling activity for Gates Industrial.

Shares of GTES can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.

One share of GTES stock can currently be purchased for approximately $11.05.

Gates Industrial has a market capitalization of $3.21 billion and generates $3.09 billion in revenue each year. The company earns $690.10 million in net income (profit) each year or $0.91 on an earnings per share basis. Gates Industrial employs 14,700 workers across the globe.

The official website for Gates Industrial is www.gates.com.

Gates Industrial's mailing address is 1144 FIFTEENTH STREET, DENVER CO, 80202. The company can be reached via phone at 303-744-1911 or via email at [email protected]