Gates Industrial Corporation PLC (NYSE:GTES) Receives Average Recommendation of “Moderate Buy” from Analysts

Gates Industrial Corporation PLC (NYSE:GTES) has earned a consensus recommendation of “Moderate Buy” from the twelve ratings firms that are currently covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $28.1818.

GTES has been the subject of several research analyst reports. Industrial Alliance Securities set a $35.00 price objective on Gates Industrial in a research report on Monday, August 25th. Royal Bank Of Canada boosted their price objective on Gates Industrial from $28.00 to $29.00 and gave the company an “outperform” rating in a research report on Thursday, July 31st. KeyCorp reiterated an “overweight” rating and issued a $30.00 price objective (up from $26.00) on shares of Gates Industrial in a research report on Thursday, July 31st. Citigroup raised their price target on shares of Gates Industrial from $22.00 to $29.00 and gave the stock a “buy” rating in a research note on Monday, July 14th. Finally, Barclays reaffirmed an “overweight” rating and set a $28.00 price target (up from $26.00) on shares of Gates Industrial in a research note on Monday, August 4th.

Gates Industrial Price Performance

Shares of GTES opened at $26.15 on Tuesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 2.46 and a current ratio of 3.46. The stock has a 50 day simple moving average of $25.37 and a 200 day simple moving average of $23.09. Gates Industrial has a 52-week low of $14.70 and a 52-week high of $26.46. The firm has a market capitalization of $6.73 billion, a PE ratio of 33.52 and a beta of 1.25.

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

Hedge Funds Weigh In On Gates Industrial

Several hedge funds have recently made changes to their positions in the business. MorganRosel Wealth Management LLC bought a new position in shares of Gates Industrial during the 3rd quarter worth approximately $1,195,000. New York State Teachers Retirement System grew its stake in shares of Gates Industrial by 9.1% during the 3rd quarter. New York State Teachers Retirement System now owns 85,269 shares of the company’s stock worth $2,116,000 after acquiring an additional 7,147 shares in the last quarter. Oliver Luxxe Assets LLC grew its stake in shares of Gates Industrial by 2.7% during the 3rd quarter. Oliver Luxxe Assets LLC now owns 105,098 shares of the company’s stock worth $2,609,000 after acquiring an additional 2,760 shares in the last quarter. Forum Financial Management LP grew its stake in shares of Gates Industrial by 12.2% during the 3rd quarter. Forum Financial Management LP now owns 11,249 shares of the company’s stock worth $279,000 after acquiring an additional 1,220 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its holdings in shares of Gates Industrial by 10.9% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 57,985 shares of the company’s stock valued at $1,439,000 after buying an additional 5,700 shares during the last quarter. 98.50% of the stock is owned by institutional investors.

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.