Barclays Cuts Gates Industrial (NYSE:GTES) Price Target to $28.00
by Doug Wharley · The Cerbat GemGates Industrial (NYSE:GTES – Free Report) had its price objective decreased by Barclays from $32.00 to $28.00 in a research note published on Wednesday morning,Benzinga reports. Barclays currently has an overweight rating on the stock.
GTES has been the topic of several other research reports. Royal Bank Of Canada reissued an “outperform” rating and set a $31.00 target price on shares of Gates Industrial in a research report on Friday, February 13th. Morgan Stanley boosted their target price on Gates Industrial from $25.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 11th. Robert W. Baird set a $39.00 target price on Gates Industrial in a report on Friday, February 13th. UBS Group reaffirmed a “buy” rating and set a $33.00 price target on shares of Gates Industrial in a research report on Friday, February 13th. Finally, Citigroup boosted their price objective on Gates Industrial from $27.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday, February 13th. Six equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $30.36.
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Gates Industrial Stock Performance
NYSE GTES opened at $22.01 on Wednesday. The company has a fifty day moving average price of $24.77 and a 200-day moving average price of $23.76. The firm has a market cap of $5.59 billion, a price-to-earnings ratio of 22.69 and a beta of 1.28. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.37 and a quick ratio of 2.42. Gates Industrial has a 1 year low of $14.70 and a 1 year high of $28.47.
Gates Industrial (NYSE:GTES – Get Free Report) last released its quarterly earnings results on Thursday, February 12th. The company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.01. Gates Industrial had a net margin of 7.30% and a return on equity of 10.36%. The company had revenue of $856.20 million for the quarter, compared to analyst estimates of $853.35 million. During the same period last year, the firm earned $0.36 earnings per share. The firm’s revenue was up 3.2% on a year-over-year basis. Gates Industrial has set its FY 2026 guidance at 1.520-1.680 EPS. As a group, equities research analysts predict that Gates Industrial will post 1.36 EPS for the current fiscal year.
Institutional Investors Weigh In On Gates Industrial
Several large investors have recently modified their holdings of GTES. New York State Teachers Retirement System lifted its stake in Gates Industrial by 0.6% in the fourth quarter. New York State Teachers Retirement System now owns 85,748 shares of the company’s stock valued at $1,841,000 after purchasing an additional 479 shares during the last quarter. Xponance LLC grew its holdings in Gates Industrial by 3.7% during the fourth quarter. Xponance LLC now owns 13,792 shares of the company’s stock valued at $296,000 after purchasing an additional 486 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al increased its position in Gates Industrial by 1.0% in the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 52,700 shares of the company’s stock worth $1,308,000 after buying an additional 500 shares during the last quarter. Glenmede Investment Management LP increased its position in Gates Industrial by 0.9% in the third quarter. Glenmede Investment Management LP now owns 55,047 shares of the company’s stock worth $1,366,000 after buying an additional 514 shares during the last quarter. Finally, Lido Advisors LLC raised its stake in shares of Gates Industrial by 3.8% in the fourth quarter. Lido Advisors LLC now owns 14,069 shares of the company’s stock valued at $302,000 after buying an additional 521 shares during the period. 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.