Analysts Set Gates Industrial Corporation PLC (NYSE:GTES) Price Target at $28.18

Gates Industrial Corporation PLC (NYSE:GTES) has been given an average rating of “Moderate Buy” by the eleven analysts that are presently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $28.1818.

Several analysts have recently issued reports on the company. Royal Bank Of Canada upped their price target on Gates Industrial from $28.00 to $29.00 and gave the stock an “outperform” rating in a research note on Thursday, July 31st. JPMorgan Chase & Co. initiated coverage on Gates Industrial in a report on Monday, August 25th. They issued an “overweight” rating and a $35.00 target price for the company. Citigroup increased their price target on Gates Industrial from $22.00 to $29.00 and gave the company a “buy” rating in a report on Monday, July 14th. Wall Street Zen lowered shares of Gates Industrial from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 26th. Finally, UBS Group boosted their price objective on shares of Gates Industrial from $27.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, July 31st.

Institutional Investors Weigh In On Gates Industrial

Hedge funds have recently bought and sold shares of the company. Allworth Financial LP increased its stake in shares of Gates Industrial by 43.0% in the second quarter. Allworth Financial LP now owns 2,096 shares of the company’s stock worth $48,000 after purchasing an additional 630 shares during the period. Personal CFO Solutions LLC grew its holdings in Gates Industrial by 6.4% in the 1st quarter. Personal CFO Solutions LLC now owns 11,175 shares of the company’s stock valued at $206,000 after buying an additional 670 shares during the last quarter. EP Wealth Advisors LLC increased its position in Gates Industrial by 5.3% in the 2nd quarter. EP Wealth Advisors LLC now owns 17,399 shares of the company’s stock worth $401,000 after buying an additional 875 shares during the period. Assenagon Asset Management S.A. increased its position in Gates Industrial by 0.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 121,868 shares of the company’s stock worth $2,807,000 after buying an additional 908 shares during the period. Finally, Xponance Inc. lifted its holdings in shares of Gates Industrial by 8.7% during the first quarter. Xponance Inc. now owns 11,359 shares of the company’s stock worth $209,000 after buying an additional 909 shares during the last quarter. 98.50% of the stock is currently owned by institutional investors.

Gates Industrial Price Performance

Gates Industrial stock opened at $24.81 on Friday. The company has a current ratio of 3.46, a quick ratio of 2.46 and a debt-to-equity ratio of 0.66. Gates Industrial has a 1-year low of $14.70 and a 1-year high of $26.42. The firm’s fifty day simple moving average is $25.01 and its 200-day simple moving average is $22.19. The company has a market capitalization of $6.39 billion, a P/E ratio of 31.81 and a beta of 1.25.

Gates Industrial (NYSE:GTES) last posted its earnings results on Wednesday, July 30th. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.38 by $0.01. Gates Industrial had a net margin of 5.98% and a return on equity of 10.17%. The firm had revenue of $883.70 million for the quarter, compared to the consensus estimate of $873.34 million. During the same period in the prior year, the business posted $0.36 earnings per share. The business’s quarterly revenue was down .2% on a year-over-year basis. Gates Industrial has set its FY 2025 guidance at 1.440-1.520 EPS. Sell-side analysts forecast that Gates Industrial will post 1.36 earnings per share for the current fiscal year.

Gates Industrial Company 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.