Gates Industrial (GTES) Stock Price, News & Analysis

6 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Gates Industrial in the last twelve months. There are currently 2 hold ratings and 4 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "moderate buy" GTES shares.
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6 Wall Street analysts have issued 1-year price targets for Gates Industrial's shares. Their GTES share price targets range from $14.00 to $21.00. On average, they predict the company's stock price to reach $18.00 in the next twelve months. This suggests a possible upside of 4.7% from the stock's current price.
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Gates Industrial's stock was trading at $13.42 on January 1st, 2024. Since then, GTES shares have increased by 28.1% and is now trading at $17.1950.
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Gates Industrial saw a increase in short interest in March. As of March 31st, there was short interest totaling 7,780,000 shares, an increase of 7.3% from the March 15th total of 7,250,000 shares. Based on an average daily trading volume, of 3,000,000 shares, the short-interest ratio is presently 2.6 days. Approximately 4.1% of the shares of the stock are short sold.
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The company is scheduled to release its next quarterly earnings announcement on Wednesday, May 1st 2024.
View our GTES earnings forecast.

Gates Industrial will be holding an earnings conference call on Wednesday, May 1st at 10:00 AM Eastern. Interested parties can register for or listen to the call using this link or dial in at 647-362-9199 with passcode "5772067".

Gates Industrial Corp PLC (NYSE:GTES) issued its quarterly earnings data on Thursday, February, 8th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.27 by $0.10. The firm earned $863.30 million during the quarter, compared to analyst estimates of $892.40 million. Gates Industrial had a trailing twelve-month return on equity of 10.14% and a net margin of 6.52%.

ETFs with the largest weight of Gates Industrial (NYSE:GTES) stock in their portfolio include Dimensional US Small Cap Value ETF (DFSV).Invesco FTSE RAFI US 1500 Small-Mid ETF (PRFZ).

Gates Industrial issued an update on its first quarter 2024 earnings guidance on Saturday, March, 30th. The company provided EPS guidance of for the period. The company issued revenue guidance of $860.0 million-$875.0 million, compared to the consensus revenue estimate of $867.3 million.

108 employees have rated Gates Industrial Chief Executive Officer Ivo Jurek on Glassdoor.com. Ivo Jurek has an approval rating of 54% among the company's employees. This puts Ivo Jurek in the bottom 25% of approval ratings compared to other CEOs of publicly-traded companies.

Based on aggregate information from My MarketBeat watchlists, some companies that other Gates Industrial investors own include NVIDIA (NVDA), Micron Technology (MU), Advanced Micro Devices (AMD), Alibaba Group (BABA), Bristol-Myers Squibb (BMY), B2Gold (BTG), Novavax (NVAX), Intel (INTC), Pure Storage (PSTG) and Boeing (BA).

Gates Industrial (GTES) raised $751 million in an initial public offering (IPO) on Thursday, January 25th 2018. The company issued 38,500,000 shares at $18.00-$21.00 per share. Citigroup, Morgan Stanley and UBS Investment Bank acted as the underwriters for the IPO and Barclays, Credit Suisse, Goldman Sachs, RBC Capital Markets, Blackstone Capital Markets, Deutsche Bank Securities, Wells Fargo Securities Current Capital Securities, KeyBanc Capital Markets, Siebert Cisneros Shank, SunTrust Robinson Humphrey, Academy Securities, BTIG and Guggenheim Securities were co-managers.

Gates Industrial's stock is owned by a variety of retail and institutional investors. Top institutional investors include Allspring Global Investments Holdings LLC (5.58%), Confluence Investment Management LLC (0.61%), Leeward Investments LLC MA (0.44%), Olstein Capital Management L.P. (0.08%), Alaska Permanent Fund Corp (0.06%) and Hennion & Walsh Asset Management Inc. (0.01%). Insiders that own company stock include Aggregator (Cayman) LP Omaha, Blackstone Inc, Fredrik J Eliasson, Ivo Jurek, Neil P Simpkins and Wilson S Neely.
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Shares of GTES stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
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