Gates Industrial Corporation PLC (NYSE:GTES) Given Average Recommendation of “Moderate Buy” by Brokerages

Gates Industrial Corporation PLC (NYSE:GTES) has been assigned a consensus rating of “Moderate Buy” from the thirteen analysts that are currently covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $32.4545.

GTES has been the subject of several recent research reports. Wall Street Zen upgraded Gates Industrial from a “hold” rating to a “strong-buy” rating in a research report on Saturday, August 8th. Robert W. Baird lifted their target price on shares of Gates Industrial from $37.00 to $39.00 and gave the stock an “outperform” rating in a research note on Monday, August 3rd. Wells Fargo & Company upped their price target on shares of Gates Industrial from $26.00 to $30.00 and gave the company an “equal weight” rating in a report on Monday, August 3rd. KeyCorp upped their price target on shares of Gates Industrial from $31.00 to $34.00 and gave the company an “overweight” rating in a report on Monday, August 3rd. Finally, Morgan Stanley increased their price target on shares of Gates Industrial from $27.00 to $28.00 and gave the company an “equal weight” rating in a research report on Friday, May 29th.

Insider Activity at Gates Industrial

In other news, Director Peifang Zhang sold 6,000 shares of the 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 completion of the sale, the director directly owned 44,044 shares in the company, valued at approximately $1,301,940.64. This represents a 11.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.80% of the company’s stock.

Institutional Trading of Gates Industrial

Several large investors have recently modified their holdings of the business. California State Teachers Retirement System raised its holdings in Gates Industrial by 2,617.6% in the 2nd quarter. California State Teachers Retirement System now owns 8,237,752 shares of the company’s stock worth $230,410,000 after purchasing an additional 7,934,629 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Gates Industrial by 98.7% during the 4th quarter. JPMorgan Chase & Co. now owns 8,373,294 shares of the company’s stock valued at $179,775,000 after purchasing an additional 4,158,341 shares in the last quarter. Norges Bank bought a new stake in shares of Gates Industrial during the 4th quarter valued at about $74,843,000. Adage Capital Partners GP L.L.C. purchased a new position in shares of Gates Industrial during the second quarter valued at about $32,255,000. Finally, Nuveen LLC increased its position in shares of Gates Industrial by 280.0% during the fourth quarter. Nuveen LLC now owns 1,725,274 shares of the company’s stock valued at $37,042,000 after buying an additional 1,271,248 shares during the period. 98.50% of the stock is owned by institutional investors.

Gates Industrial Trading Down 2.4%

NYSE GTES opened at $25.68 on Friday. Gates Industrial has a 1-year low of $20.88 and a 1-year high of $30.34. 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 stock has a 50-day moving average of $26.73 and a 200-day moving average of $25.82. The firm has a market cap of $6.50 billion, a PE ratio of 18.21 and a beta of 1.26.

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

About Gates Industrial

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.