Brokerages Set Gates Industrial Corporation PLC (NYSE:GTES) Price Target at $30.36
by Scott Moore · The Cerbat GemShares of Gates Industrial Corporation PLC (NYSE:GTES – Get Free Report) have been assigned a consensus rating of “Moderate Buy” from the eleven ratings firms that are presently covering the firm, Marketbeat reports. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $30.3636.
A number of research analysts have commented on the company. Citigroup boosted their target price on Gates Industrial from $27.00 to $33.00 and gave the company a “buy” rating in a research note on Friday, February 13th. Royal Bank Of Canada restated an “outperform” rating and issued a $31.00 target price on shares of Gates Industrial in a research note on Friday, February 13th. UBS Group restated a “buy” rating and issued a $33.00 target price on shares of Gates Industrial in a research note on Friday, February 13th. Weiss Ratings downgraded Gates Industrial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, April 1st. Finally, Robert W. Baird set a $39.00 target price on Gates Industrial in a research note on Friday, February 13th.
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Gates Industrial Stock Down 0.2%
NYSE:GTES opened at $24.85 on Tuesday. The firm has a market capitalization of $6.31 billion, a price-to-earnings ratio of 25.62 and a beta of 1.28. Gates Industrial has a 1-year low of $16.27 and a 1-year high of $28.47. The company has a current ratio of 3.37, a quick ratio of 2.42 and a debt-to-equity ratio of 0.61. The business’s fifty day moving average price is $24.94 and its 200 day moving average price is $23.73.
Gates Industrial (NYSE:GTES – Get Free Report) last posted its quarterly earnings results on Thursday, February 12th. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.01. The firm had revenue of $856.20 million for the quarter, compared to analyst estimates of $853.35 million. Gates Industrial had a return on equity of 10.36% and a net margin of 7.30%.Gates Industrial’s quarterly revenue was up 3.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.36 earnings per share. Gates Industrial has set its FY 2026 guidance at 1.520-1.680 EPS. On average, sell-side analysts forecast that Gates Industrial will post 1.36 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of GTES. JPMorgan Chase & Co. grew its stake in Gates Industrial by 98.7% in the fourth quarter. JPMorgan Chase & Co. now owns 8,373,294 shares of the company’s stock valued at $179,775,000 after purchasing an additional 4,158,341 shares in the last quarter. Norges Bank purchased a new position in Gates Industrial in the fourth quarter valued at about $74,843,000. Van Berkom & Associates Inc. bought a new stake in shares of Gates Industrial during the 4th quarter worth about $68,614,000. Adage Capital Partners GP L.L.C. bought a new stake in shares of Gates Industrial during the 2nd quarter worth about $32,255,000. Finally, Vanguard Group Inc. boosted its stake in shares of Gates Industrial by 5.0% during the 3rd quarter. Vanguard Group Inc. now owns 26,753,365 shares of the company’s stock worth $664,019,000 after acquiring an additional 1,281,339 shares in the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.
Gates Industrial Company Profile
Gates Industrial Corporation PLC (NYSE: GTES) is a leading global manufacturer of engineered power transmission belts and fluid power products. The company’s portfolio includes synchronous belts, V-belts, hose assemblies, fittings and hydraulic components designed to support a wide range of industrial and automotive applications. Gates Industrial serves sectors such as agriculture, mining, construction, manufacturing, transportation and consumer markets, offering solutions that improve performance, reliability and efficiency in demanding operating environments.
In its power transmission segment, Gates Industrial produces high-strength belts engineered for precise motion control and minimal maintenance.