Gates Industrial Corporation PLC (NYSE:GTES – Get Free Report) was the recipient of some unusual options trading activity on Friday. Investors purchased 15,817 put options on the stock. This represents an increase of 787% compared to the typical daily volume of 1,784 put options.
Gates Industrial Stock Up 2.2%
Shares of GTES stock traded up $0.56 on Friday, hitting $26.59. The stock had a trading volume of 266,987 shares, compared to its average volume of 2,297,411. Gates Industrial has a one year low of $20.88 and a one year high of $29.17. The business has a 50 day moving average price of $26.22 and a 200 day moving average price of $24.90. The company has a market cap of $6.75 billion, a PE ratio of 27.70 and a beta of 1.25. The company has a quick ratio of 2.66, a current ratio of 3.67 and a debt-to-equity ratio of 0.61.
Gates Industrial (NYSE:GTES – Get Free Report) last issued its earnings results on Friday, May 1st. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.03. The company had revenue of $851.10 million for the quarter, compared to analysts’ expectations of $859.72 million. Gates Industrial had a net margin of 7.23% and a return on equity of 10.00%. The firm’s quarterly revenue was up .4% on a year-over-year basis. During the same period in the prior year, the business earned $0.36 EPS. Gates Industrial has set its FY 2026 guidance at 1.520-1.680 EPS. Research analysts anticipate that Gates Industrial will post 1.55 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Gates Industrial
Analysts Set New Price Targets
Several research analysts recently commented on GTES shares. Morgan Stanley lifted their price target on Gates Industrial from $27.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Friday, May 29th. Wolfe Research reiterated an “outperform” rating and set a $33.00 price target on shares of Gates Industrial in a report on Thursday. Robert W. Baird reduced their price objective on shares of Gates Industrial from $39.00 to $37.00 and set an “outperform” rating on the stock in a research report on Monday, May 4th. Weiss Ratings reissued a “hold (c+)” rating on shares of Gates Industrial in a research note on Monday, June 29th. Finally, Wall Street Zen downgraded shares of Gates Industrial from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 10th. Eight research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $31.18.
Read Our Latest Report on GTES
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.
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