Gates Industrial (NYSE:GTES) Price Target Raised to $34.00

Gates Industrial (NYSE:GTES) had its target price increased by JPMorgan Chase & Co. from $32.00 to $34.00 in a research note published on Monday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other equities analysts have also recently commented on GTES. Morgan Stanley boosted their price target on Gates Industrial from $27.00 to $28.00 and gave the stock an “equal weight” rating in a report on Friday, May 29th. Wall Street Zen downgraded Gates Industrial from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Robert W. Baird increased their target price on shares of Gates Industrial from $37.00 to $39.00 and gave the stock an “outperform” rating in a report on Monday. Weiss Ratings reissued a “hold (c+)” rating on shares of Gates Industrial in a report on Monday, June 29th. Finally, KeyCorp raised their price target on shares of Gates Industrial from $31.00 to $34.00 and gave the company an “overweight” rating in a research note on Monday. Nine investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.00.

Gates Industrial Price Performance

GTES stock opened at $29.28 on Monday. The company’s 50-day moving average price is $26.96 and its two-hundred day moving average price is $25.55. The firm has a market cap of $7.41 billion, a P/E ratio of 20.77 and a beta of 1.25. The company has a quick ratio of 2.36, a current ratio of 3.24 and a debt-to-equity ratio of 0.58. Gates Industrial has a 12 month low of $20.88 and a 12 month high of $30.34.

Gates Industrial (NYSE:GTES) last issued its quarterly earnings results on Friday, July 31st. The company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.02. The company had revenue of $941.60 million during the quarter, compared to the consensus estimate of $927.28 million. Gates Industrial had a net margin of 10.37% and a return on equity of 10.11%. The firm’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.39 EPS. Gates Industrial has set its FY 2026 guidance at 1.620-1.700 EPS. On average, analysts anticipate that Gates Industrial will post 1.53 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Peifang Zhang sold 6,000 shares of the business’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $29.56, for a total transaction of $177,360.00. Following the sale, the director owned 50,044 shares in the company, valued at $1,479,300.64. The trade was a 10.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its position in Gates Industrial by 2.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 11,546,581 shares of the company’s stock worth $261,040,000 after buying an additional 295,706 shares during the period. JPMorgan Chase & Co. increased its position in Gates Industrial by 98.7% in the 4th quarter. JPMorgan Chase & Co. now owns 8,373,294 shares of the company’s stock valued at $179,775,000 after acquiring an additional 4,158,341 shares during the period. Invesco Ltd. raised its stake in shares of Gates Industrial by 5.9% during the fourth quarter. Invesco Ltd. now owns 8,322,654 shares of the company’s stock valued at $178,687,000 after acquiring an additional 461,160 shares during the last quarter. State Street Corp lifted its holdings in shares of Gates Industrial by 3.0% during the fourth quarter. State Street Corp now owns 7,971,572 shares of the company’s stock worth $171,150,000 after purchasing an additional 232,447 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in shares of Gates Industrial by 5.5% during the fourth quarter. Franklin Resources Inc. now owns 7,305,065 shares of the company’s stock worth $156,840,000 after purchasing an additional 381,896 shares during the period. Institutional investors and hedge funds own 98.50% of the company’s stock.

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.