Investors Buy High Volume of Put Options on Gates Industrial (NYSE:GTES)

Gates Industrial Corporation PLC (NYSE:GTES) saw some unusual options trading activity on Friday. Stock investors bought 15,817 put options on the stock. This is an increase of approximately 787% compared to the typical volume of 1,784 put options.

Analyst Ratings Changes

Several analysts have issued reports on GTES shares. Wolfe Research reiterated an “outperform” rating and issued a $33.00 target price on shares of Gates Industrial in a research note on Thursday. Morgan Stanley boosted 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. Wall Street Zen cut shares of Gates Industrial from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 10th. Robert W. Baird dropped their price objective on Gates Industrial from $39.00 to $37.00 and set an “outperform” rating for the company in a research note on Monday, May 4th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Gates Industrial in a research report on Monday, June 29th. Eight analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $31.18.

Gates Industrial Price Performance

NYSE:GTES traded up $0.28 during mid-day trading on Friday, reaching $26.32. The stock had a trading volume of 1,435,170 shares, compared to its average volume of 1,949,804. The firm has a 50 day moving average price of $26.25 and a two-hundred day moving average price of $24.91. The stock has a market capitalization of $6.68 billion, a P/E ratio of 27.41 and a beta of 1.25. Gates Industrial has a one year low of $20.88 and a one year high of $29.17. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.66 and a current ratio of 3.67.

Gates Industrial (NYSE:GTES) last issued its quarterly earnings results on Friday, May 1st. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03. The business had revenue of $851.10 million for the quarter, compared to analysts’ expectations of $859.72 million. Gates Industrial had a net margin of 7.23% and a return on equity of 10.00%. The business’s quarterly revenue was up .4% on a year-over-year basis. During the same period last year, the business earned $0.36 earnings per share. Gates Industrial has set its FY 2026 guidance at 1.520-1.680 EPS. As a group, analysts expect that Gates Industrial will post 1.55 earnings per share for the current year.

Hedge Funds Weigh In On Gates Industrial

Institutional investors and hedge funds have recently made changes to their positions in the business. Los Angeles Capital Management LLC bought a new stake in Gates Industrial in the fourth quarter worth $26,000. Transamerica Financial Advisors LLC grew its stake in shares of Gates Industrial by 51.9% during the fourth quarter. Transamerica Financial Advisors LLC now owns 1,577 shares of the company’s stock valued at $34,000 after buying an additional 539 shares during the last quarter. Fifth Third Bancorp grew its stake in shares of Gates Industrial by 46.3% during the first quarter. Fifth Third Bancorp now owns 1,624 shares of the company’s stock valued at $37,000 after buying an additional 514 shares during the last quarter. Parallel Advisors LLC increased its holdings in shares of Gates Industrial by 37.7% in the first quarter. Parallel Advisors LLC now owns 2,536 shares of the company’s stock worth $57,000 after buying an additional 694 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in shares of Gates Industrial by 273.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,911 shares of the company’s stock worth $67,000 after buying an additional 2,131 shares during the period. 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.