Gates Industrial (NYSE:GTES) Price Target Raised to $34.00

Gates Industrial (NYSE:GTES) had its price target boosted by Royal Bank Of Canada from $33.00 to $34.00 in a report published on Monday,Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other equities research analysts have also recently commented on GTES. Wolfe Research reiterated an “outperform” rating and issued a $33.00 price objective on shares of Gates Industrial in a research note on Thursday, July 9th. Weiss Ratings reissued a “hold (c+)” rating on shares of Gates Industrial in a research report on Monday, June 29th. Robert W. Baird raised their target price on Gates Industrial from $37.00 to $39.00 and gave the stock an “outperform” rating in a research report on Monday. Citigroup boosted their target price on Gates Industrial from $33.00 to $35.00 and gave the company a “buy” rating in a research note on Monday. Finally, KeyCorp upped their price target on Gates Industrial from $31.00 to $34.00 and gave the company an “overweight” rating in a research report on Monday. Nine equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Gates Industrial currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.00.

Gates Industrial Stock Performance

Shares of GTES stock opened at $29.28 on Monday. The firm has a market cap of $7.41 billion, a price-to-earnings ratio of 20.77 and a beta of 1.25. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.36 and a current ratio of 3.24. Gates Industrial has a 52 week low of $20.88 and a 52 week high of $30.34. The firm’s 50-day simple moving average is $26.96 and its two-hundred day simple moving average is $25.55.

Gates Industrial (NYSE:GTES) last released its earnings results on Friday, July 31st. The company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.02. Gates Industrial had a net margin of 10.37% and a return on equity of 10.11%. The firm had revenue of $941.60 million for the quarter, compared to analysts’ expectations of $927.28 million. During the same period in the previous year, the company earned $0.39 earnings per share. The company’s quarterly revenue was up 6.6% on a year-over-year basis. Gates Industrial has set its FY 2026 guidance at 1.620-1.700 EPS. As a group, equities analysts forecast that Gates Industrial will post 1.53 earnings per share for the current year.

Insider Activity at Gates Industrial

In related news, Director Peifang Zhang sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $29.56, for a total value of $177,360.00. Following the completion of the transaction, the director directly owned 50,044 shares of the company’s stock, valued at approximately $1,479,300.64. This trade represents a 10.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.80% of the company’s stock.

Institutional Investors Weigh In On Gates Industrial

A number of hedge funds and other institutional investors have recently bought and sold shares of GTES. Los Angeles Capital Management LLC purchased a new stake in shares of Gates Industrial during the fourth quarter worth $26,000. Transamerica Financial Advisors LLC grew its position in shares of Gates Industrial by 51.9% in the fourth quarter. Transamerica Financial Advisors LLC now owns 1,577 shares of the company’s stock valued at $34,000 after purchasing an additional 539 shares in the last quarter. Fifth Third Bancorp grew its position in shares of Gates Industrial by 46.3% in the first quarter. Fifth Third Bancorp now owns 1,624 shares of the company’s stock valued at $37,000 after purchasing an additional 514 shares in the last quarter. Parallel Advisors LLC raised its stake in shares of Gates Industrial by 37.7% during the 1st quarter. Parallel Advisors LLC now owns 2,536 shares of the company’s stock valued at $57,000 after purchasing an additional 694 shares during the period. Finally, Northwestern Mutual Wealth Management Co. raised its stake 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 valued at $67,000 after purchasing an additional 2,131 shares during the period. Institutional investors own 98.50% of the company’s stock.

About Gates Industrial

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.