Gates Industrial (NYSE:GTES) Downgraded by Wall Street Zen to Hold

Wall Street Zen downgraded shares of Gates Industrial (NYSE:GTES) from a buy rating to a hold rating in a report issued on Saturday morning.

Several other equities research analysts have also recently weighed in on GTES. Weiss Ratings reissued a “hold (c+)” rating on shares of Gates Industrial in a research note on Monday, June 29th. Barclays reduced their target price on Gates Industrial from $32.00 to $28.00 and set an “overweight” rating on the stock in a report on Wednesday, April 1st. Robert W. Baird lowered their price target on shares of Gates Industrial from $39.00 to $37.00 and set an “outperform” rating for the company in a report on Monday, May 4th. Morgan Stanley boosted their price target on shares of Gates Industrial from $27.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Friday, May 29th. Finally, Royal Bank Of Canada upped their price objective on shares of Gates Industrial from $30.00 to $33.00 and gave the company an “outperform” rating in a research note on Thursday, July 16th. Eight equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $31.36.

Gates Industrial Price Performance

Shares of NYSE:GTES opened at $26.89 on Friday. The firm has a market cap of $6.83 billion, a PE ratio of 28.01 and a beta of 1.25. The firm’s fifty day moving average is $26.47 and its 200-day moving average is $25.25. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.66 and a current ratio of 3.67. Gates Industrial has a 52 week low of $20.88 and a 52 week high of $29.17.

Gates Industrial (NYSE:GTES) last posted its quarterly earnings data on Friday, May 1st. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03. The business had revenue of $851.10 million during the quarter, compared to the consensus estimate of $859.72 million. Gates Industrial had a return on equity of 10.00% and a net margin of 7.23%.Gates Industrial’s quarterly revenue was up .4% on a year-over-year basis. During the same period in the prior year, the business posted $0.36 earnings per share. Gates Industrial has set its FY 2026 guidance at 1.520-1.680 EPS. Sell-side analysts predict that Gates Industrial will post 1.53 earnings per share for the current year.

Institutional Investors Weigh In On Gates Industrial

A number of hedge funds have recently added to or reduced their stakes in GTES. Paradice Investment Management LLC lifted its position in shares of Gates Industrial by 8.1% during the 4th quarter. Paradice Investment Management LLC now owns 1,292,301 shares of the company’s stock valued at $27,746,000 after acquiring an additional 97,382 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in Gates Industrial by 5.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 14,169,457 shares of the company’s stock worth $312,578,000 after purchasing an additional 717,353 shares during the period. SG Americas Securities LLC grew its holdings in Gates Industrial by 46.7% in the fourth quarter. SG Americas Securities LLC now owns 70,186 shares of the company’s stock worth $1,507,000 after purchasing an additional 22,338 shares during the period. Van Berkom & Associates Inc. bought a new stake in Gates Industrial in the fourth quarter valued at $68,614,000. Finally, Impax Asset Management Group plc increased its stake in Gates Industrial by 48.8% in the fourth quarter. Impax Asset Management Group plc now owns 472,713 shares of the company’s stock valued at $10,149,000 after purchasing an additional 155,000 shares in the last quarter. 98.50% of the stock is currently owned by institutional investors.

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.