Yousif Capital Management LLC Has $2.06 Million Stock Position in Gates Industrial Corporation PLC $GTES

Yousif Capital Management LLC boosted its position in shares of Gates Industrial Corporation PLC (NYSE:GTES) by 2.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 89,352 shares of the company’s stock after purchasing an additional 2,435 shares during the period. Yousif Capital Management LLC’s holdings in Gates Industrial were worth $2,058,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. CWM LLC boosted its position in Gates Industrial by 2.9% during the second quarter. CWM LLC now owns 57,462 shares of the company’s stock valued at $1,323,000 after purchasing an additional 1,642 shares during the last quarter. Vanguard Personalized Indexing Management LLC bought a new position in Gates Industrial during the second quarter valued at about $236,000. Tectonic Advisors LLC raised its holdings in Gates Industrial by 15.4% during the second quarter. Tectonic Advisors LLC now owns 24,190 shares of the company’s stock valued at $557,000 after buying an additional 3,236 shares in the last quarter. Optas LLC bought a new position in Gates Industrial during the second quarter valued at about $235,000. Finally, Venturi Wealth Management LLC bought a new position in Gates Industrial during the second quarter valued at about $237,000. Institutional investors and hedge funds own 98.50% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Weiss Ratings restated a “hold (c+)” rating on shares of Gates Industrial in a report on Wednesday, October 8th. Royal Bank Of Canada raised their target price on Gates Industrial from $28.00 to $29.00 and gave the company an “outperform” rating in a report on Thursday, July 31st. Industrial Alliance Securities set a $35.00 target price on Gates Industrial in a report on Monday, August 25th. Barclays restated an “overweight” rating and set a $28.00 target price (up from $26.00) on shares of Gates Industrial in a report on Monday, August 4th. Finally, Zacks Research lowered Gates Industrial from a “strong-buy” rating to a “hold” rating in a report on Monday, October 13th. Seven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, Gates Industrial presently has a consensus rating of “Moderate Buy” and an average price target of $28.18.

Gates Industrial Trading Up 0.2%

Gates Industrial stock opened at $25.92 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 2.46 and a current ratio of 3.46. The business’s 50-day simple moving average is $25.22 and its 200-day simple moving average is $22.74. The firm has a market capitalization of $6.68 billion, a PE ratio of 33.23 and a beta of 1.25. Gates Industrial Corporation PLC has a 52 week low of $14.70 and a 52 week high of $26.42.

Gates Industrial (NYSE:GTES) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. The business 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 revenue for the quarter was down .2% on a year-over-year basis. During the same period in the previous year, the company posted $0.36 earnings per share. Gates Industrial has set its FY 2025 guidance at 1.440-1.520 EPS. Equities research analysts forecast that Gates Industrial Corporation PLC will post 1.36 earnings per share for the current year.

Gates Industrial Profile

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.