Gates Industrial Corporation PLC (NYSE:GTES) Receives $28.18 Average PT from Analysts

Gates Industrial Corporation PLC (NYSE:GTES) has received a consensus rating of “Moderate Buy” from the twelve analysts that are presently covering the firm, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $28.1818.

A number of equities analysts have recently weighed in on the company. Barclays reiterated an “overweight” rating and set a $28.00 target price (up previously from $26.00) on shares of Gates Industrial in a research note on Monday, August 4th. Industrial Alliance Securities set a $35.00 price objective on Gates Industrial in a research note on Monday, August 25th. Zacks Research lowered Gates Industrial from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 13th. Citigroup raised their price objective on Gates Industrial from $22.00 to $29.00 and gave the stock a “buy” rating in a research note on Monday, July 14th. Finally, KeyCorp restated an “overweight” rating and set a $30.00 price objective (up previously from $26.00) on shares of Gates Industrial in a research note on Thursday, July 31st.

Hedge Funds Weigh In On Gates Industrial

Several hedge funds and other institutional investors have recently modified their holdings of GTES. True Wealth Design LLC increased its stake in shares of Gates Industrial by 133.2% in the 3rd quarter. True Wealth Design LLC now owns 1,166 shares of the company’s stock valued at $29,000 after purchasing an additional 666 shares during the last quarter. SVB Wealth LLC bought a new position in shares of Gates Industrial in the 1st quarter valued at $34,000. Allworth Financial LP increased its stake in shares of 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 during the last quarter. SJS Investment Consulting Inc. increased its stake in shares of Gates Industrial by 5,123.7% in the 3rd quarter. SJS Investment Consulting Inc. now owns 1,985 shares of the company’s stock valued at $49,000 after purchasing an additional 1,947 shares during the last quarter. Finally, Avanza Fonder AB increased its stake in shares of Gates Industrial by 85.3% in the 3rd quarter. Avanza Fonder AB now owns 2,441 shares of the company’s stock valued at $61,000 after purchasing an additional 1,124 shares during the last quarter. Institutional investors own 98.50% of the company’s stock.

Gates Industrial Trading Up 2.5%

Shares of Gates Industrial stock opened at $26.07 on Tuesday. The company has a market capitalization of $6.71 billion, a price-to-earnings ratio of 33.42 and a beta of 1.25. The company has a debt-to-equity ratio of 0.66, a current ratio of 3.46 and a quick ratio of 2.46. Gates Industrial has a 1 year low of $14.70 and a 1 year high of $26.42. The business has a fifty day simple moving average of $25.33 and a two-hundred day simple moving average of $22.96.

Gates Industrial (NYSE:GTES) last announced its earnings results on Wednesday, July 30th. The company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. The company had revenue of $883.70 million for 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 firm’s quarterly revenue was down .2% compared to the same quarter last year. During the same quarter last year, the company earned $0.36 earnings per share. Gates Industrial has set its FY 2025 guidance at 1.440-1.520 EPS. Research analysts forecast that Gates Industrial will post 1.36 EPS for the current year.

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.