Gates Industrial’s (GTES) Hold (C+) Rating Reiterated at Weiss Ratings

Gates Industrial (NYSE:GTES)‘s stock had its “hold (c+)” rating reaffirmed by Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Other analysts also recently issued research reports about the company. Wall Street Zen upgraded Gates Industrial from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 4th. JPMorgan Chase & Co. assumed coverage on Gates Industrial in a research note on Monday, August 25th. They issued an “overweight” rating and a $35.00 target price on the stock. Royal Bank Of Canada upped their target price on Gates Industrial from $28.00 to $29.00 and gave the stock an “outperform” rating in a research note on Thursday, July 31st. Zacks Research raised Gates Industrial from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 20th. Finally, Industrial Alliance Securities set a $35.00 price target on Gates Industrial in a report on Monday, August 25th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $28.18.

Gates Industrial Trading Up 0.6%

Shares of NYSE GTES opened at $25.55 on Wednesday. The company has a quick ratio of 2.46, a current ratio of 3.46 and a debt-to-equity ratio of 0.66. The business has a fifty day simple moving average of $25.07 and a two-hundred day simple moving average of $22.43. The firm has a market cap of $6.58 billion, a PE ratio of 32.76 and a beta of 1.25. Gates Industrial has a twelve month low of $14.70 and a twelve month high of $26.42.

Gates Industrial (NYSE:GTES) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.38 by $0.01. The firm had revenue of $883.70 million during the quarter, compared to analyst estimates of $873.34 million. Gates Industrial had a return on equity of 10.17% and a net margin of 5.98%.The business’s revenue for the quarter was down .2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.36 EPS. Gates Industrial has set its FY 2025 guidance at 1.440-1.520 EPS. Analysts expect that Gates Industrial will post 1.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Gates Industrial

Institutional investors have recently added to or reduced their stakes in the stock. SVB Wealth LLC acquired a new position in Gates Industrial in the 1st quarter valued at about $34,000. Allworth Financial LP boosted its holdings in Gates Industrial by 43.0% in the 2nd quarter. Allworth Financial LP now owns 2,096 shares of the company’s stock valued at $48,000 after purchasing an additional 630 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in Gates Industrial by 273.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,911 shares of the company’s stock valued at $67,000 after purchasing an additional 2,131 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Gates Industrial by 1,976.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,970 shares of the company’s stock valued at $68,000 after purchasing an additional 2,827 shares in the last quarter. Finally, Steph & Co. purchased a new stake in Gates Industrial in the 2nd quarter valued at approximately $70,000. Institutional investors and hedge funds own 98.50% of the company’s stock.

About Gates Industrial

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.