Brokerages Set Gates Industrial Corporation PLC (NYSE:GTES) Price Target at $31.36

Gates Industrial Corporation PLC (NYSE:GTES) has earned a consensus rating of “Moderate Buy” from the twelve research firms that are currently covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $31.3636.

A number of equities research analysts have commented on the stock. Royal Bank Of Canada increased their price objective on shares of Gates Industrial from $30.00 to $33.00 and gave the company an “outperform” rating in a research report on Thursday, July 16th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Gates Industrial in a research report on Monday, June 29th. Barclays lowered their target price on shares of Gates Industrial from $32.00 to $28.00 and set an “overweight” rating for the company in a research note on Wednesday, April 1st. Wolfe Research reissued an “outperform” rating and issued a $33.00 target price on shares of Gates Industrial in a report on Thursday, July 9th. Finally, Wall Street Zen lowered Gates Industrial from a “buy” rating to a “hold” rating in a report on Saturday.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Los Angeles Capital Management LLC purchased a new stake in Gates Industrial during the fourth quarter worth approximately $26,000. Transamerica Financial Advisors LLC increased its stake in Gates Industrial by 51.9% in the fourth quarter. Transamerica Financial Advisors LLC now owns 1,577 shares of the company’s stock valued at $34,000 after purchasing an additional 539 shares during the last quarter. Fifth Third Bancorp raised its holdings in Gates Industrial by 46.3% during the first quarter. Fifth Third Bancorp now owns 1,624 shares of the company’s stock worth $37,000 after purchasing an additional 514 shares in the last quarter. Parallel Advisors LLC raised its holdings in Gates Industrial by 37.7% during the first quarter. Parallel Advisors LLC now owns 2,536 shares of the company’s stock worth $57,000 after purchasing an additional 694 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of Gates Industrial by 273.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,911 shares of the company’s stock worth $67,000 after buying an additional 2,131 shares during the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Gates Industrial Stock Performance

Shares of Gates Industrial stock opened at $26.89 on Thursday. The business has a 50-day simple moving average of $26.47 and a 200-day simple moving average of $25.25. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.66 and a current ratio of 3.67. Gates Industrial has a one year low of $20.88 and a one year high of $29.17. The company has a market cap of $6.83 billion, a PE ratio of 28.01 and a beta of 1.25.

Gates Industrial (NYSE:GTES) last issued its earnings results on Friday, May 1st. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.03. Gates Industrial had a net margin of 7.23% and a return on equity of 10.00%. The firm had revenue of $851.10 million for the quarter, compared to analysts’ expectations of $859.72 million. During the same quarter last year, the company earned $0.36 earnings per share. The firm’s revenue was up .4% compared to the same quarter last year. Gates Industrial has set its FY 2026 guidance at 1.520-1.680 EPS. On average, equities research analysts forecast that Gates Industrial will post 1.53 EPS for the current fiscal year.

About Gates Industrial

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.