Gates Industrial Corporation PLC (NYSE:GTES) Receives Consensus Rating of “Moderate Buy” from Brokerages

Gates Industrial Corporation PLC (NYSE:GTES) has been given an average rating of “Moderate Buy” by the thirteen analysts that are currently covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $32.4545.

A number of brokerages have recently weighed in on GTES. JPMorgan Chase & Co. lifted their price objective on Gates Industrial from $32.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday, August 3rd. KeyCorp upped their target price on Gates Industrial from $31.00 to $34.00 and gave the company an “overweight” rating in a report on Monday, August 3rd. Wolfe Research reaffirmed an “outperform” rating and issued a $33.00 price target on shares of Gates Industrial in a research note on Thursday, July 9th. Morgan Stanley lifted their price target on shares of Gates Industrial from $27.00 to $28.00 and gave the company an “equal weight” rating in a report on Friday, May 29th. Finally, Robert W. Baird boosted their price objective on shares of Gates Industrial from $37.00 to $39.00 and gave the company an “outperform” rating in a research report on Monday, August 3rd.

Insider Activity at Gates Industrial

In other news, Director Peifang Zhang sold 6,000 shares of Gates Industrial stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $29.56, for a total transaction of $177,360.00. Following the sale, the director owned 44,044 shares of the company’s stock, valued at approximately $1,301,940.64. The trade was a 11.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.80% of the company’s stock.

Hedge Funds Weigh In On Gates Industrial

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted its holdings in Gates Industrial by 2.6% in the first quarter. Dimensional Fund Advisors LP now owns 11,546,581 shares of the company’s stock worth $261,040,000 after buying an additional 295,706 shares during the period. Franklin Resources Inc. boosted its position in Gates Industrial by 5.5% during the 4th quarter. Franklin Resources Inc. now owns 7,305,065 shares of the company’s stock valued at $156,840,000 after acquiring an additional 381,896 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of Gates Industrial by 3.8% during the 1st quarter. Janus Henderson Group PLC now owns 5,230,159 shares of the company’s stock worth $118,252,000 after acquiring an additional 193,896 shares during the period. GW&K Investment Management LLC grew its holdings in shares of Gates Industrial by 0.7% during the 4th quarter. GW&K Investment Management LLC now owns 4,534,381 shares of the company’s stock worth $97,353,000 after acquiring an additional 30,409 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of Gates Industrial by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 4,417,046 shares of the company’s stock worth $94,857,000 after acquiring an additional 83,980 shares during the period. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Gates Industrial Stock Performance

Gates Industrial stock opened at $25.84 on Friday. The company has a current ratio of 3.24, a quick ratio of 2.36 and a debt-to-equity ratio of 0.58. The firm has a market cap of $6.54 billion, a P/E ratio of 18.32 and a beta of 1.26. Gates Industrial has a 1-year low of $20.88 and a 1-year high of $30.34. The firm has a 50-day moving average of $26.66 and a 200-day moving average of $25.75.

Gates Industrial (NYSE:GTES) last announced its quarterly earnings results on Friday, July 31st. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.02. The company had revenue of $941.60 million for the quarter, compared to the consensus estimate of $927.28 million. Gates Industrial had a return on equity of 10.11% and a net margin of 10.37%.Gates Industrial’s revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.39 EPS. Gates Industrial has set its FY 2026 guidance at 1.620-1.700 EPS. Sell-side analysts expect that Gates Industrial will post 1.57 EPS for the current year.

Gates Industrial Company Profile

Gates Industrial Corporation plc (NYSE: GTES) is a global manufacturer of power transmission and fluid power products. The company supplies engineered components used to transfer motion and power, control the flow of fluids, and manage industrial and automotive systems.

Its product portfolio includes synchronous and V-belts, belt drives, hydraulic and industrial hose systems, couplings, tensioners, pulleys, and related replacement and maintenance products. Gates serves original equipment manufacturers and aftermarket customers across industries such as industrial machinery, energy, transportation, agriculture, construction, and automotive.

Gates traces its history to 1911, when Charles Gates acquired a Colorado tire and rubber company.