Gates Industrial (NYSE:GTES) Upgraded by Wall Street Zen to Strong-Buy Rating

Wall Street Zen upgraded shares of Gates Industrial (NYSE:GTES) from a hold rating to a strong-buy rating in a report released on Saturday morning.

GTES has been the subject of several other research reports. Wolfe Research reissued an “outperform” rating and issued a $33.00 price objective on shares of Gates Industrial in a report on Thursday, July 9th. Royal Bank Of Canada raised their target price on Gates Industrial from $33.00 to $34.00 and gave the stock an “outperform” rating in a report on Monday, August 3rd. Citigroup lifted their price target on Gates Industrial from $33.00 to $35.00 and gave the company a “buy” rating in a research report on Monday, August 3rd. Robert W. Baird boosted their price target on Gates Industrial from $37.00 to $39.00 and gave the company an “outperform” rating in a report on Monday, August 3rd. Finally, Wells Fargo & Company upped their price objective on Gates Industrial from $26.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Monday, August 3rd. Nine investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Gates Industrial presently has a consensus rating of “Moderate Buy” and an average target price of $33.00.

Gates Industrial Stock Down 1.0%

NYSE:GTES opened at $28.31 on Friday. The firm has a market capitalization of $7.17 billion, a P/E ratio of 20.08 and a beta of 1.25. Gates Industrial has a 1-year low of $20.88 and a 1-year high of $30.34. The company’s fifty day moving average price is $27.07 and its 200-day moving average price is $25.61. The company has a debt-to-equity ratio of 0.58, a current ratio of 3.24 and a quick ratio of 2.36.

Gates Industrial (NYSE:GTES) last posted its 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. Gates Industrial had a net margin of 10.37% and a return on equity of 10.11%. The company had revenue of $941.60 million during the quarter, compared to the consensus estimate of $927.28 million. During the same period in the previous year, the firm posted $0.39 earnings per share. The firm’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 research analysts anticipate that Gates Industrial will post 1.53 EPS for the current year.

Insider Buying and Selling at Gates Industrial

In other Gates Industrial news, Director Peifang Zhang sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $29.56, for a total transaction of $177,360.00. Following the completion of the sale, the director directly owned 44,044 shares in the company, valued at approximately $1,301,940.64. The trade was a 11.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.80% of the stock is currently owned by insiders.

Institutional Trading of Gates Industrial

Several large investors have recently made changes to their positions in the company. Paradice Investment Management LLC raised its position in shares of Gates Industrial by 8.1% in the fourth quarter. Paradice Investment Management LLC now owns 1,292,301 shares of the company’s stock valued at $27,746,000 after buying an additional 97,382 shares during the last quarter. Van Berkom & Associates Inc. acquired a new position in Gates Industrial during the fourth quarter worth about $68,614,000. California State Teachers Retirement System grew its stake in Gates Industrial by 24.2% during the 1st quarter. California State Teachers Retirement System now owns 303,123 shares of the company’s stock valued at $6,854,000 after acquiring an additional 58,990 shares in the last quarter. Kennedy Capital Management LLC raised its holdings in Gates Industrial by 6.7% in the 4th quarter. Kennedy Capital Management LLC now owns 1,528,525 shares of the company’s stock valued at $32,817,000 after acquiring an additional 96,392 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd raised its holdings in Gates Industrial by 708.1% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 257,930 shares of the company’s stock valued at $5,832,000 after acquiring an additional 226,012 shares during the last quarter. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

Gates Industrial Company Profile

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.