UBS Group Has Lowered Expectations for Gates Industrial (NYSE:GTES) Stock Price

Gates Industrial (NYSE:GTES) had its target price lowered by analysts at UBS Group from $30.00 to $29.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. UBS Group’s price objective would indicate a potential upside of 34.21% from the company’s previous close.

A number of other analysts also recently commented on GTES. Royal Bank Of Canada dropped their target price on shares of Gates Industrial from $29.00 to $26.00 and set an “outperform” rating on the stock in a report on Thursday, October 30th. Wall Street Zen raised Gates Industrial from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 4th. Citigroup cut their target price on Gates Industrial from $31.00 to $28.00 and set a “buy” rating on the stock in a research report on Thursday, October 30th. Industrial Alliance Securities set a $35.00 price target on Gates Industrial in a research report on Monday, August 25th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Gates Industrial from $35.00 to $33.00 and set an “overweight” rating on the stock in a research report on Thursday, October 30th. Seven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $27.55.

Gates Industrial Price Performance

Shares of GTES stock traded down $0.24 during mid-day trading on Thursday, hitting $21.61. 1,413,630 shares of the stock traded hands, compared to its average volume of 2,306,174. Gates Industrial has a twelve month low of $14.70 and a twelve month high of $26.46. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.50 and a current ratio of 3.52. The company’s 50-day simple moving average is $25.04 and its 200-day simple moving average is $23.44. The firm has a market cap of $5.58 billion, a price-to-earnings ratio of 23.75 and a beta of 1.25.

Gates Industrial (NYSE:GTES) last announced its earnings results on Wednesday, October 29th. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.01. Gates Industrial had a return on equity of 10.38% and a net margin of 6.93%.The business had revenue of $855.70 million during the quarter, compared to analysts’ expectations of $860.95 million. During the same quarter last year, the business posted $0.33 earnings per share. The company’s quarterly revenue was up 3.0% on a year-over-year basis. Gates Industrial has set its FY 2025 guidance at 1.480-1.520 EPS. As a group, equities research analysts expect that Gates Industrial will post 1.36 earnings per share for the current year.

Institutional Investors Weigh In On Gates Industrial

A number of large investors have recently bought and sold shares of the business. True Wealth Design LLC raised its position in Gates Industrial by 133.2% in the 3rd quarter. True Wealth Design LLC now owns 1,166 shares of the company’s stock valued at $29,000 after purchasing an additional 666 shares during the last quarter. SVB Wealth LLC acquired a new position in Gates Industrial during the 1st quarter worth about $34,000. Allworth Financial LP grew its holdings in Gates Industrial by 43.0% during the 2nd quarter. Allworth Financial LP now owns 2,096 shares of the company’s stock worth $48,000 after acquiring an additional 630 shares during the last quarter. SJS Investment Consulting Inc. increased its position in Gates Industrial by 5,123.7% in the 3rd quarter. SJS Investment Consulting Inc. now owns 1,985 shares of the company’s stock valued at $49,000 after acquiring an additional 1,947 shares in the last quarter. Finally, Quent Capital LLC bought a new position in shares of Gates Industrial in the third quarter worth about $51,000. 98.50% of the stock is currently owned by institutional investors.

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.