Gates Industrial (NYSE:GTES) Stock Price Down 4.6% – What’s Next?

Gates Industrial Corporation PLC (NYSE:GTES)’s stock price fell 4.6% during trading on Wednesday . The company traded as low as $25.11 and last traded at $25.1690. 122,321 shares changed hands during mid-day trading, a decline of 95% from the average session volume of 2,488,861 shares. The stock had previously closed at $26.39.

Analysts Set New Price Targets

A number of brokerages have recently commented on GTES. Wall Street Zen raised shares of Gates Industrial from a “buy” rating to a “strong-buy” rating in a report on Sunday, March 29th. Citigroup upped their target price on shares of Gates Industrial from $27.00 to $33.00 and gave the company a “buy” rating in a report on Friday, February 13th. Royal Bank Of Canada reiterated an “outperform” rating and set a $31.00 price target on shares of Gates Industrial in a research note on Friday, February 13th. UBS Group reiterated a “buy” rating and set a $33.00 price target on shares of Gates Industrial in a research note on Friday, February 13th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Gates Industrial from $33.00 to $32.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 16th. Six analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Gates Industrial has a consensus rating of “Moderate Buy” and an average price target of $30.36.

Gates Industrial Trading Down 5.5%

The company has a debt-to-equity ratio of 0.61, a current ratio of 3.37 and a quick ratio of 2.42. The business’s 50 day moving average price is $24.97 and its 200-day moving average price is $23.72. The firm has a market capitalization of $6.33 billion, a price-to-earnings ratio of 25.65 and a beta of 1.28.

Gates Industrial (NYSE:GTES) last issued its quarterly earnings results on Thursday, February 12th. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.01. Gates Industrial had a net margin of 7.30% and a return on equity of 10.36%. The business had revenue of $856.20 million for the quarter, compared to analyst estimates of $853.35 million. During the same period in the previous year, the business posted $0.36 earnings per share. The business’s revenue was up 3.2% compared to the same quarter last year. Gates Industrial has set its FY 2026 guidance at 1.520-1.680 EPS. Equities analysts forecast that Gates Industrial Corporation PLC will post 1.36 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Allianz Asset Management GmbH acquired a new position in Gates Industrial during the third quarter worth about $2,033,000. Caprock Group LLC acquired a new position in Gates Industrial during the third quarter worth about $1,695,000. New York State Common Retirement Fund grew its position in Gates Industrial by 33.4% during the third quarter. New York State Common Retirement Fund now owns 1,381,075 shares of the company’s stock worth $34,278,000 after buying an additional 345,552 shares during the period. Handelsbanken Fonder AB grew its position in Gates Industrial by 61.4% during the third quarter. Handelsbanken Fonder AB now owns 2,182,100 shares of the company’s stock worth $54,160,000 after buying an additional 830,000 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its position in Gates Industrial by 5.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 14,169,457 shares of the company’s stock worth $312,578,000 after buying an additional 717,353 shares during the period. 98.50% of the stock is currently owned by institutional investors and hedge funds.

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.