Gates Industrial Corp PLC (NYSE:GTES) Director Ivo Jurek purchased 5,000 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The stock was acquired at an average price of $13.21 per share, with a total value of $66,050.00. Following the purchase, the director now directly owns 179,118 shares of the company’s stock, valued at $2,366,148.78. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Gates Industrial stock opened at $13.29 on Friday. The stock has a market cap of $3.84 billion, a PE ratio of 14.56 and a beta of 2.22. The company has a debt-to-equity ratio of 1.08, a quick ratio of 2.33 and a current ratio of 3.20. Gates Industrial Corp PLC has a one year low of $6.76 and a one year high of $16.62. The stock has a fifty day moving average of $13.12 and a 200 day moving average of $11.12.
Gates Industrial (NYSE:GTES) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. The company had revenue of $725.70 million during the quarter, compared to analysts’ expectations of $720.00 million. Gates Industrial had a return on equity of 9.02% and a net margin of 22.35%. Gates Industrial’s revenue for the quarter was down 8.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.36 earnings per share. As a group, sell-side analysts predict that Gates Industrial Corp PLC will post 0.93 EPS for the current fiscal year.
Several research firms have recently weighed in on GTES. Goldman Sachs Group boosted their price target on Gates Industrial from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Zacks Investment Research cut Gates Industrial from a “hold” rating to a “sell” rating in a research note on Friday, January 17th. UBS Group began coverage on Gates Industrial in a research note on Wednesday, December 11th. They issued a “hold” rating and a $14.00 price target for the company. TheStreet cut Gates Industrial from a “c” rating to a “d” rating in a research note on Monday, February 3rd. Finally, Barclays restated a “hold” rating and issued a $15.00 price target on shares of Gates Industrial in a research note on Sunday, February 9th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. Gates Industrial presently has a consensus rating of “Hold” and an average target price of $13.29.
A number of institutional investors have recently bought and sold shares of GTES. Parallel Advisors LLC purchased a new stake in Gates Industrial during the third quarter valued at $27,000. Oppenheimer Asset Management Inc. purchased a new stake in Gates Industrial during the third quarter valued at $85,000. Tower Research Capital LLC TRC purchased a new stake in Gates Industrial during the third quarter valued at $107,000. UBS Group AG increased its position in Gates Industrial by 30.1% during the fourth quarter. UBS Group AG now owns 7,765 shares of the company’s stock valued at $107,000 after acquiring an additional 1,797 shares during the last quarter. Finally, Amalgamated Bank purchased a new stake in Gates Industrial during the fourth quarter valued at $141,000.
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.
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