Wells Fargo & Company Issues Positive Forecast for Gates Industrial (NYSE:GTES) Stock Price

Gates Industrial (NYSE:GTES) had its target price increased by equities research analysts at Wells Fargo & Company from $26.00 to $30.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential upside of 4.26% from the stock’s previous close.

A number of other equities research analysts have also commented on the stock. 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. Citigroup restated a “buy” rating on shares of Gates Industrial in a research report on Monday. Robert W. Baird raised their target price on Gates Industrial from $37.00 to $39.00 and gave the stock an “outperform” rating in a research note on Monday. Royal Bank Of Canada boosted their price target on Gates Industrial from $30.00 to $33.00 and gave the company an “outperform” rating in a report on Thursday, July 16th. Finally, Wolfe Research reaffirmed an “outperform” rating and set a $33.00 price target on shares of Gates Industrial in a research report on Thursday, July 9th. Eight analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.55.

Gates Industrial Trading Up 2.8%

Gates Industrial stock traded up $0.79 during trading hours on Monday, reaching $28.77. The company had a trading volume of 67,190 shares, compared to its average volume of 2,259,304. 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 has a 12-month low of $20.88 and a 12-month high of $29.17. The company has a 50-day moving average price of $26.70 and a 200 day moving average price of $25.40. The firm has a market cap of $7.31 billion, a price-to-earnings ratio of 20.34 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. Gates Industrial had a return on equity of 10.11% and a net margin of 10.37%.The firm had revenue of $941.60 million during the quarter, compared to analyst estimates of $927.28 million. During the same quarter in the prior year, the firm posted $0.39 earnings per share. The business’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. Equities analysts forecast that Gates Industrial will post 1.53 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Empowered Funds LLC bought a new stake in shares of Gates Industrial during the 1st quarter valued at about $381,000. Creative Planning raised its stake in Gates Industrial by 53.9% in the second quarter. Creative Planning now owns 15,435 shares of the company’s stock worth $355,000 after buying an additional 5,404 shares in the last quarter. Prudential Financial Inc. raised its stake in Gates Industrial by 52.7% in the second quarter. Prudential Financial Inc. now owns 17,940 shares of the company’s stock worth $389,000 after buying an additional 6,190 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in 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. Finally, M&T Bank Corp lifted its holdings in Gates Industrial by 8.6% in the second quarter. M&T Bank Corp now owns 11,801 shares of the company’s stock worth $272,000 after buying an additional 937 shares during the period. 98.50% of the stock is currently owned by institutional investors.

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.