JPMorgan Chase & Co. Issues Positive Forecast for Gates Industrial (NYSE:GTES) Stock Price

Gates Industrial (NYSE:GTES) had its price target upped by equities researchers at JPMorgan Chase & Co. from $32.00 to $34.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 18.84% from the stock’s previous close.

Several other brokerages have also recently weighed in on GTES. Royal Bank Of Canada raised their price target on shares of Gates Industrial from $33.00 to $34.00 and gave the company an “outperform” rating in a research report on Monday. Wall Street Zen downgraded Gates Industrial from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Wolfe Research restated an “outperform” rating and issued a $33.00 target price on shares of Gates Industrial in a report on Thursday, July 9th. KeyCorp lifted their target price on Gates Industrial from $31.00 to $34.00 and gave the company an “overweight” rating in a research report on Monday. Finally, Citigroup reiterated a “buy” rating on shares of Gates Industrial in a report on Monday. Eight investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $32.82.

Gates Industrial Stock Up 2.3%

GTES traded up $0.63 during trading on Monday, hitting $28.61. 748,490 shares of the company’s stock were exchanged, compared to its average volume of 2,262,717. The company has a quick ratio of 2.36, a current ratio of 3.24 and a debt-to-equity ratio of 0.58. The business’s 50 day moving average is $26.70 and its two-hundred day moving average is $25.40. Gates Industrial has a fifty-two week low of $20.88 and a fifty-two week high of $29.17. The stock has a market cap of $7.27 billion, a P/E ratio of 20.28 and a beta of 1.25.

Gates Industrial (NYSE:GTES) last released its quarterly earnings data 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. The firm had revenue of $941.60 million for the quarter, compared to analyst estimates of $927.28 million. Gates Industrial had a net margin of 10.37% and a return on equity of 10.11%. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period last year, the firm earned $0.39 earnings per share. Gates Industrial has set its FY 2026 guidance at 1.620-1.700 EPS. As a group, equities analysts expect that Gates Industrial will post 1.53 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Gates Industrial

Several large investors have recently modified their holdings of GTES. Paradice Investment Management LLC grew its holdings in Gates Industrial by 8.1% during the fourth quarter. Paradice Investment Management LLC now owns 1,292,301 shares of the company’s stock valued at $27,746,000 after purchasing an additional 97,382 shares during the period. SG Americas Securities LLC raised its stake in shares of Gates Industrial by 46.7% in the fourth quarter. SG Americas Securities LLC now owns 70,186 shares of the company’s stock valued at $1,507,000 after buying an additional 22,338 shares during the period. Van Berkom & Associates Inc. bought a new stake in shares of Gates Industrial in the fourth quarter valued at $68,614,000. Kennedy Capital Management LLC lifted its position in shares of Gates Industrial by 6.7% during the 4th quarter. Kennedy Capital Management LLC now owns 1,528,525 shares of the company’s stock valued at $32,817,000 after buying an additional 96,392 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd lifted its position in shares of Gates Industrial by 708.1% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 257,930 shares of the company’s stock valued at $5,832,000 after buying an additional 226,012 shares during the last quarter. Hedge funds and other 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.