Gates Industrial (GTES) – Research Analysts’ Recent Ratings Changes

Gates Industrial (NYSE: GTES) recently received a number of ratings updates from brokerages and research firms:

• 5/9/2023 – Gates Industrial had its “maintains” rating reaffirmed by analysts at VNET Group, Inc..
• 5/9/2023 – Gates Industrial had its price target lowered by analysts at Evercore ISI from $15.00 to $14.00.
• 5/8/2023 – Gates Industrial had its price target raised by analysts at UBS Group AG from $16.00 to $18.00.
• 5/5/2023 – Gates Industrial had its price target raised by analysts at Robert W. Baird from $18.00 to $19.00.

Gates Industrial Price Performance

Shares of Gates Industrial stock opened at $11.41 on Thursday. The business has a 50 day simple moving average of $13.20 and a two-hundred day simple moving average of $12.71. Gates Industrial Corp PLC has a 12 month low of $9.40 and a 12 month high of $14.93. The stock has a market capitalization of $3.22 billion, a P/E ratio of 15.01 and a beta of 1.53. The company has a debt-to-equity ratio of 0.70, a current ratio of 3.19 and a quick ratio of 2.30.

Institutional Investors Weigh In On Gates Industrial

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC increased its stake in Gates Industrial by 207.3% during the first quarter. Tower Research Capital LLC TRC now owns 2,354 shares of the company’s stock worth $33,000 after acquiring an additional 1,588 shares during the last quarter. HBK Sorce Advisory LLC acquired a new stake in Gates Industrial during the fourth quarter worth $40,000. Acadian Asset Management LLC acquired a new stake in Gates Industrial during the first quarter worth $45,000. Quarry LP acquired a new stake in Gates Industrial during the first quarter worth $51,000. Finally, Signaturefd LLC increased its stake in Gates Industrial by 56.3% during the fourth quarter. Signaturefd LLC now owns 5,865 shares of the company’s stock worth $67,000 after acquiring an additional 2,112 shares during the last quarter.

Gates Industrial Corporation PLC designs and manufactures power transmission equipment. Its products serves harsh and hazardous industries such as agriculture, construction, manufacturing and energy, to everyday consumer applications such as printers, power washers, automatic doors and vacuum cleaners and virtually every form of transportation.