Gates Industrial (NYSE:GTES) Cut to “Hold” at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen downgraded shares of Gates Industrial (NYSE:GTES – Free Report) from a buy rating to a hold rating in a research note issued to investors on Saturday.

GTES has been the topic of a number of other research reports. Barclays cut their price objective on Gates Industrial from $32.00 to $28.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 1st. Wolfe Research reissued an “outperform” rating and set a $33.00 target price on shares of Gates Industrial in a research note on Thursday, July 9th. Weiss Ratings restated a “hold (c+)” rating on shares of Gates Industrial in a report on Monday, June 29th. Robert W. Baird reduced their price target on Gates Industrial from $39.00 to $37.00 and set an “outperform” rating on the stock in a research report on Monday, May 4th. Finally, Royal Bank Of Canada increased their price target on Gates Industrial from $30.00 to $33.00 and gave the company an “outperform” rating in a research report on Thursday, July 16th. Eight research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $31.36.

View Our Latest Stock Report on GTES

Gates Industrial Stock Performance

NYSE GTES opened at $26.56 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.67 and a quick ratio of 2.66. The company has a market cap of $6.75 billion, a P/E ratio of 27.67 and a beta of 1.25. The stock has a 50-day moving average of $26.52 and a two-hundred day moving average of $25.29. Gates Industrial has a 1-year low of $20.88 and a 1-year high of $29.17.

Gates Industrial (NYSE:GTES – Get Free Report) last posted its quarterly earnings data on Friday, May 1st. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.32 by $0.03. Gates Industrial had a net margin of 7.23% and a return on equity of 10.00%. The business had revenue of $851.10 million during the quarter, compared to analyst estimates of $859.72 million. During the same quarter last year, the firm posted $0.36 earnings per share. The business’s revenue for the quarter was up .4% compared to the same quarter last year. Gates Industrial has set its FY 2026 guidance at 1.520-1.680 EPS. As a group, analysts anticipate that Gates Industrial will post 1.53 EPS for the current year.

Hedge Funds Weigh In On Gates Industrial

Large investors have recently bought and sold shares of the business. Los Angeles Capital Management LLC acquired a new stake in Gates Industrial in the fourth quarter valued at $26,000. Transamerica Financial Advisors LLC increased its holdings in shares of Gates Industrial by 51.9% in the 4th quarter. Transamerica Financial Advisors LLC now owns 1,577 shares of the company’s stock valued at $34,000 after acquiring an additional 539 shares during the last quarter. Fifth Third Bancorp increased its holdings in shares of Gates Industrial by 46.3% in the 1st quarter. Fifth Third Bancorp now owns 1,624 shares of the company’s stock valued at $37,000 after acquiring an additional 514 shares during the last quarter. Parallel Advisors LLC increased its holdings in shares of Gates Industrial by 37.7% in the 1st quarter. Parallel Advisors LLC now owns 2,536 shares of the company’s stock valued at $57,000 after acquiring an additional 694 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its position in shares of Gates Industrial by 273.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,911 shares of the company’s stock worth $67,000 after acquiring an additional 2,131 shares in the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Gates Industrial Company Profile

(Get Free Report)

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.

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