Gates Industrial (NYSE:GTES) Upgraded at Wall Street Zen

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

A number of other equities research analysts have also recently issued reports on GTES. DA Davidson began coverage on shares of Gates Industrial in a report on Tuesday, September 1st. They set a “neutral” rating and a $29.00 target price on the stock. Robert W. Baird raised their price target on Gates Industrial from $37.00 to $39.00 and gave the stock an “outperform” rating in a report on Monday, August 3rd. JPMorgan Chase & Co. raised their price target on Gates Industrial from $32.00 to $34.00 and gave the stock an “overweight” 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. Finally, Weiss Ratings upgraded Gates Industrial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, August 3rd. Nine equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $32.45.

Gates Industrial Stock Performance

Shares of GTES stock opened at $26.69 on Friday. The firm has a 50-day moving average of $26.64 and a 200-day moving average of $25.79. The company has a market cap of $6.76 billion, a P/E ratio of 18.93 and a beta of 1.26. 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 one year low of $20.88 and a one year high of $30.34.

Gates Industrial (NYSE:GTES) last released its earnings results on Friday, July 31st. The company reported $0.44 EPS for the quarter, topping 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 company had revenue of $941.60 million for the quarter, compared to analysts’ expectations of $927.28 million. During the same period in the previous year, the business posted $0.39 EPS. The business’s revenue for the quarter 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 research analysts forecast that Gates Industrial will post 1.57 EPS for the current fiscal year.

Insider Transactions at Gates Industrial

In other news, Director Peifang Zhang sold 6,000 shares of Gates Industrial stock in a transaction on 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 of the company’s stock, valued at approximately $1,301,940.64. The trade was a 11.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 2.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Gates Industrial

A number of large investors have recently added to or reduced their stakes in the business. Fifth Third Bancorp raised its holdings 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 acquiring an additional 514 shares in the last quarter. Parallel Advisors LLC lifted its stake in 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 acquiring an additional 694 shares during the period. Personal CFO Solutions LLC boosted its holdings in Gates Industrial by 7.0% in the first quarter. Personal CFO Solutions LLC now owns 16,459 shares of the company’s stock valued at $372,000 after acquiring an additional 1,077 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in Gates Industrial by 4.2% in the first quarter. PNC Financial Services Group Inc. now owns 28,070 shares of the company’s stock valued at $635,000 after acquiring an additional 1,122 shares in the last quarter. Finally, D.A. Davidson & CO. increased its position in Gates Industrial by 5.6% during the 1st quarter. D.A. Davidson & CO. now owns 27,599 shares of the company’s stock valued at $624,000 after purchasing an additional 1,475 shares during the period. Hedge funds and other institutional investors own 98.50% of the company’s stock.

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.