Gates Industrial (NYSE:GTES) Given New $27.00 Price Target at Morgan Stanley

Gates Industrial (NYSE:GTES) had its price objective raised by Morgan Stanley from $25.00 to $27.00 in a research note released on Wednesday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

A number of other equities analysts also recently commented on GTES. Royal Bank Of Canada restated an “outperform” rating and set a $31.00 target price on shares of Gates Industrial in a report on Friday, February 13th. Citigroup lifted their price target on shares of Gates Industrial from $27.00 to $33.00 and gave the company a “buy” rating in a report on Friday, February 13th. Weiss Ratings restated a “hold (c+)” rating on shares of Gates Industrial in a report on Monday, December 29th. JPMorgan Chase & Co. dropped their target price on shares of Gates Industrial from $33.00 to $32.00 and set an “overweight” rating for the company in a research report on Tuesday, December 16th. Finally, Barclays lifted their target price on shares of Gates Industrial from $26.00 to $32.00 and gave the company an “overweight” rating in a research note on Friday, February 13th. Six investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $30.73.

Gates Industrial Stock Performance

Shares of NYSE:GTES opened at $23.87 on Wednesday. The company has a current ratio of 3.37, a quick ratio of 2.42 and a debt-to-equity ratio of 0.61. The company has a 50-day moving average price of $24.79 and a 200-day moving average price of $24.11. The company has a market cap of $6.06 billion, a price-to-earnings ratio of 24.61 and a beta of 1.23. Gates Industrial has a 12 month low of $14.70 and a 12 month high of $28.47.

Gates Industrial (NYSE:GTES) last announced its quarterly earnings results on Thursday, February 12th. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.01. Gates Industrial had a return on equity of 10.36% and a net margin of 7.30%.The company had revenue of $856.20 million for the quarter, compared to the consensus estimate of $853.35 million. During the same quarter in the previous year, the business earned $0.36 EPS. Gates Industrial’s revenue was up 3.2% compared to the same quarter last year. Gates Industrial has set its FY 2026 guidance at 1.520-1.680 EPS. As a group, equities analysts anticipate that Gates Industrial will post 1.36 EPS for the current year.

Institutional Trading of Gates Industrial

Hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. increased its position in Gates Industrial by 98.7% during the 4th quarter. JPMorgan Chase & Co. now owns 8,373,294 shares of the company’s stock valued at $179,775,000 after buying an additional 4,158,341 shares in the last quarter. Norges Bank bought a new stake in Gates Industrial in the second quarter worth $80,713,000. Van Berkom & Associates Inc. purchased a new stake in shares of Gates Industrial in the fourth quarter worth $68,614,000. Adage Capital Partners GP L.L.C. purchased a new stake in shares of Gates Industrial in the second quarter worth $32,255,000. Finally, Vanguard Group Inc. increased its holdings in shares of Gates Industrial by 5.0% during the third quarter. Vanguard Group Inc. now owns 26,753,365 shares of the company’s stock valued at $664,019,000 after acquiring an additional 1,281,339 shares in the last quarter. 98.50% of the stock is owned by institutional investors.

Gates Industrial Company Profile

Gates Industrial Corporation PLC (NYSE: GTES) is a leading global manufacturer of engineered power transmission belts and fluid power products. The company’s portfolio includes synchronous belts, V-belts, hose assemblies, fittings and hydraulic components designed to support a wide range of industrial and automotive applications. Gates Industrial serves sectors such as agriculture, mining, construction, manufacturing, transportation and consumer markets, offering solutions that improve performance, reliability and efficiency in demanding operating environments.

In its power transmission segment, Gates Industrial produces high-strength belts engineered for precise motion control and minimal maintenance.