Gates Industrial (NYSE:GTES) Price Target Lowered to $28.00 at Barclays

Gates Industrial (NYSE:GTES) had its price objective lowered by Barclays from $32.00 to $28.00 in a report released on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other research firms also recently commented on GTES. Weiss Ratings upgraded Gates Industrial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, March 13th. UBS Group reaffirmed a “buy” rating and set a $33.00 price target on shares of Gates Industrial in a research note on Friday, February 13th. Wall Street Zen upgraded shares of Gates Industrial from a “buy” rating to a “strong-buy” rating in a research report on Sunday. Morgan Stanley lifted their price objective on shares of Gates Industrial from $25.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 11th. Finally, Robert W. Baird set a $39.00 target price on shares of Gates Industrial in a report on Friday, February 13th. Seven investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $30.36.

Gates Industrial Trading Up 2.1%

Shares of GTES stock opened at $23.09 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 stock has a market capitalization of $5.86 billion, a price-to-earnings ratio of 23.81 and a beta of 1.29. Gates Industrial has a 12-month low of $14.70 and a 12-month high of $28.47. The stock’s 50-day moving average price is $24.83 and its 200-day moving average price is $23.80.

Gates Industrial (NYSE:GTES) last announced its quarterly earnings results on Thursday, February 12th. The company reported $0.38 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 during the quarter, compared to analyst estimates of $853.35 million. During the same period in the prior year, the company earned $0.36 earnings per share. The firm’s revenue was up 3.2% on a year-over-year basis. Gates Industrial has set its FY 2026 guidance at 1.520-1.680 EPS. Equities research analysts predict that Gates Industrial will post 1.36 EPS for the current fiscal year.

Institutional Trading of Gates Industrial

Several hedge funds and other institutional investors have recently bought and sold shares of GTES. New York State Teachers Retirement System boosted its stake in Gates Industrial by 0.6% during the fourth quarter. New York State Teachers Retirement System now owns 85,748 shares of the company’s stock worth $1,841,000 after buying an additional 479 shares during the period. Xponance LLC raised its stake in shares of Gates Industrial by 3.7% in the fourth quarter. Xponance LLC now owns 13,792 shares of the company’s stock valued at $296,000 after acquiring an additional 486 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al lifted its holdings in shares of Gates Industrial by 1.0% in the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 52,700 shares of the company’s stock worth $1,308,000 after acquiring an additional 500 shares during the last quarter. Glenmede Investment Management LP boosted its stake in shares of Gates Industrial by 0.9% during the 3rd quarter. Glenmede Investment Management LP now owns 55,047 shares of the company’s stock worth $1,366,000 after purchasing an additional 514 shares during the period. Finally, Lido Advisors LLC boosted its stake in shares of Gates Industrial by 3.8% during the 4th quarter. Lido Advisors LLC now owns 14,069 shares of the company’s stock worth $302,000 after purchasing an additional 521 shares during the period. Hedge funds and other institutional investors own 98.50% of the company’s stock.

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.