Gates Industrial (NYSE:GTES) Rating Increased to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of Gates Industrial (NYSE:GTES) from a buy rating to a strong-buy rating in a research note issued to investors on Saturday.

Several other equities research analysts have also issued reports on GTES. Barclays restated an “overweight” rating and issued a $28.00 target price (up previously from $26.00) on shares of Gates Industrial in a report on Monday, August 4th. Royal Bank Of Canada lifted their price objective on shares of Gates Industrial from $28.00 to $29.00 and gave the company an “outperform” rating in a report on Thursday, July 31st. Citigroup lifted their price objective on shares of Gates Industrial from $22.00 to $29.00 and gave the company a “buy” rating in a report on Monday, July 14th. Industrial Alliance Securities set a $35.00 price objective on shares of Gates Industrial in a report on Monday, August 25th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Gates Industrial in a report on Saturday, September 27th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Gates Industrial has a consensus rating of “Moderate Buy” and an average price target of $28.18.

Gates Industrial Stock Performance

GTES opened at $25.54 on Friday. Gates Industrial has a fifty-two week low of $14.70 and a fifty-two week high of $26.42. The company has a debt-to-equity ratio of 0.66, a quick ratio of 2.46 and a current ratio of 3.46. The company has a fifty day moving average of $25.05 and a 200 day moving average of $22.38. The stock has a market capitalization of $6.58 billion, a price-to-earnings ratio of 32.74 and a beta of 1.25.

Gates Industrial (NYSE:GTES) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. Gates Industrial had a net margin of 5.98% and a return on equity of 10.17%. The business had revenue of $883.70 million during the quarter, compared to analysts’ expectations of $873.34 million. During the same period last year, the company posted $0.36 EPS. The business’s revenue was down .2% on a year-over-year basis. Gates Industrial has set its FY 2025 guidance at 1.440-1.520 EPS. As a group, sell-side analysts forecast that Gates Industrial will post 1.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC raised its stake in shares of Gates Industrial by 4.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 41,660 shares of the company’s stock worth $767,000 after acquiring an additional 1,845 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Gates Industrial by 81.0% during the 1st quarter. GAMMA Investing LLC now owns 9,099 shares of the company’s stock worth $168,000 after acquiring an additional 4,073 shares in the last quarter. QRG Capital Management Inc. raised its stake in shares of Gates Industrial by 4.5% during the 1st quarter. QRG Capital Management Inc. now owns 38,085 shares of the company’s stock worth $701,000 after acquiring an additional 1,626 shares in the last quarter. Oppenheimer Asset Management Inc. raised its stake in shares of Gates Industrial by 1.3% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 78,370 shares of the company’s stock worth $1,443,000 after acquiring an additional 1,015 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in shares of Gates Industrial by 15.5% during the 1st quarter. Assenagon Asset Management S.A. now owns 120,960 shares of the company’s stock worth $2,227,000 after acquiring an additional 16,224 shares in the last quarter. Institutional investors own 98.50% of the company’s stock.

Gates Industrial Company Profile

Gates Industrial Corporation PLC designs and manufactures power transmission equipment. Its products serves harsh and hazardous industries such as agriculture, construction, manufacturing and energy, to everyday consumer applications such as printers, power washers, automatic doors and vacuum cleaners and virtually every form of transportation.