Gates Industrial Corporation PLC (NYSE:GTES) Stock Has Consensus Target Price of $32.45

Shares of Gates Industrial Corporation PLC (NYSE:GTES) have been assigned an average recommendation of “Moderate Buy” from the thirteen brokerages that are currently covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $32.45.

GTES has been the subject of a number of analyst reports. Wolfe Research reiterated an “outperform” rating and issued a $33.00 target price on shares of Gates Industrial in a research note on Thursday, July 9th. Wall Street Zen raised Gates Industrial from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 26th. Wells Fargo & Company upped their target price on shares of Gates Industrial from $26.00 to $30.00 and gave the company an “equal weight” rating in a research note on Monday, August 3rd. Weiss Ratings upgraded Gates Industrial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, August 3rd. Finally, KeyCorp lifted their target price on shares of Gates Industrial from $31.00 to $34.00 and gave the company an “overweight” rating in a research report on Monday, August 3rd.

Insiders Place Their Bets

In other Gates Industrial news, Director Peifang Zhang sold 6,000 shares of Gates Industrial stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $29.56, for a total transaction of $177,360.00. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.80% of the company’s stock.

Institutional Trading of Gates Industrial

Large investors have recently bought and sold shares of the stock. Fifth Third Bancorp increased its position in shares of Gates Industrial by 46.3% during the 1st quarter. Fifth Third Bancorp now owns 1,624 shares of the company’s stock worth $37,000 after purchasing an additional 514 shares in the last quarter. Parallel Advisors LLC raised its holdings in Gates Industrial by 37.7% during the 1st quarter. Parallel Advisors LLC now owns 2,536 shares of the company’s stock worth $57,000 after purchasing an additional 694 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of Gates Industrial during the 4th quarter valued at $72,000. Integrated Wealth Concepts LLC acquired a new position in shares of Gates Industrial during the 2nd quarter worth about $120,000. Finally, KBC Group NV boosted its position in shares of Gates Industrial by 21.4% during the first quarter. KBC Group NV now owns 8,958 shares of the company’s stock worth $203,000 after purchasing an additional 1,579 shares in the last quarter. 98.50% of the stock is currently owned by institutional investors.

Gates Industrial Stock Down 2.6%

Gates Industrial stock opened at $26.71 on Tuesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.36 and a current ratio of 3.24. Gates Industrial has a twelve month low of $20.88 and a twelve month high of $30.34. The firm’s 50 day moving average price is $26.74 and its two-hundred day moving average price is $26.03. The firm has a market cap of $6.76 billion, a PE ratio of 18.94 and a beta of 1.28.

Gates Industrial (NYSE:GTES) last released its quarterly earnings data on Friday, July 31st. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.02. The firm had revenue of $941.60 million during the quarter, compared to analysts’ expectations of $927.28 million. Gates Industrial had a return on equity of 10.11% and a net margin of 10.37%.The business’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.39 earnings per share. Gates Industrial has set its FY 2026 guidance at 1.620-1.700 EPS. On average, research analysts predict that Gates Industrial will post 1.57 EPS for the current fiscal year.

About Gates Industrial

Gates Industrial Corporation plc (NYSE: GTES) is a global manufacturer of engineered power transmission and fluid power products. The company develops and supplies belts, hoses, hydraulic components, and related systems used to transfer power, control motion, and manage the flow of fluids in industrial and mobile equipment.

Its products serve a broad range of markets, including automotive and industrial aftermarket, construction, agriculture, energy, manufacturing, transportation, and other applications requiring durable motion and fluid-management solutions.