Gates Industrial Corporation PLC (NYSE:GTES) Given Consensus Rating of “Moderate Buy” by Analysts

Gates Industrial Corporation PLC (NYSE:GTES) has earned an average rating of “Moderate Buy” from the twelve ratings firms that are covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $33.00.

GTES has been the subject of a number of recent research reports. Citigroup boosted their price objective on shares of Gates Industrial from $33.00 to $35.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. Morgan Stanley increased their target price on shares of Gates Industrial from $27.00 to $28.00 and gave the company an “equal weight” rating in a report on Friday, May 29th. KeyCorp lifted their target price on shares of Gates Industrial from $31.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday, August 3rd. JPMorgan Chase & Co. boosted their price target on shares of Gates Industrial from $32.00 to $34.00 and gave the stock an “overweight” rating in a research note on Monday, August 3rd. Finally, Wolfe Research restated an “outperform” rating and set a $33.00 price target on shares of Gates Industrial in a research report on Thursday, July 9th.

Insider Activity at Gates Industrial

In other news, Director Peifang Zhang sold 6,000 shares of Gates Industrial stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $29.56, for a total value of $177,360.00. Following the transaction, the director owned 44,044 shares in the company, valued at approximately $1,301,940.64. The trade was a 11.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.80% of the company’s stock.

Institutional Investors Weigh In On Gates Industrial

Institutional investors have recently bought and sold shares of the stock. Empowered Funds LLC bought a new position in Gates Industrial during the 1st quarter worth approximately $381,000. Creative Planning lifted its position in Gates Industrial by 53.9% in the second quarter. Creative Planning now owns 15,435 shares of the company’s stock valued at $355,000 after purchasing an additional 5,404 shares during the last quarter. Prudential Financial Inc. lifted its position in Gates Industrial by 52.7% in the second quarter. Prudential Financial Inc. now owns 17,940 shares of the company’s stock valued at $389,000 after purchasing an additional 6,190 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Gates Industrial by 273.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,911 shares of the company’s stock valued at $67,000 after purchasing an additional 2,131 shares during the period. Finally, M&T Bank Corp boosted its stake in shares of Gates Industrial by 8.6% during the second quarter. M&T Bank Corp now owns 11,801 shares of the company’s stock valued at $272,000 after purchasing an additional 937 shares during the period. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

Gates Industrial Stock Performance

Shares of NYSE GTES opened at $27.75 on Monday. The stock’s 50-day moving average is $27.27 and its 200 day moving average is $25.80. The stock has a market cap of $7.02 billion, a price-to-earnings ratio of 19.68 and a beta of 1.25. Gates Industrial has a 1-year low of $20.88 and a 1-year high of $30.34. The company has a current ratio of 3.24, a quick ratio of 2.36 and a debt-to-equity ratio of 0.58.

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