Wall Street Zen lowered shares of Gates Industrial (NYSE:GTES – Free Report) from a strong-buy rating to a buy rating in a report released on Saturday morning,Wall Street Zen reports.
GTES has been the subject of a number of other reports. DA Davidson started coverage on shares of Gates Industrial in a research note on Tuesday, September 1st. They issued a “neutral” rating and a $29.00 target price for the company. Royal Bank Of Canada increased their price target on shares of Gates Industrial from $33.00 to $34.00 and gave the company an “outperform” rating in a research note on Monday, August 3rd. Wells Fargo & Company raised their price target on shares of Gates Industrial from $26.00 to $30.00 and gave the company an “equal weight” rating in a report on Monday, August 3rd. KeyCorp boosted their price objective 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. Finally, Weiss Ratings raised Gates Industrial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, August 3rd. Nine equities 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, Gates Industrial currently has an average rating of “Moderate Buy” and a consensus price target of $32.45.
Get Our Latest Analysis on Gates Industrial
Gates Industrial Price Performance
Gates Industrial (NYSE:GTES – Get Free Report) last released its quarterly earnings results on Friday, July 31st. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.02. The business had revenue of $941.60 million during the quarter, compared to analysts’ expectations of $927.28 million. Gates Industrial had a return on equity of 10.11% and a net margin of 10.37%.The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.39 earnings per share. Gates Industrial has set its FY 2026 guidance at 1.620-1.700 EPS. Equities research analysts expect that Gates Industrial will post 1.57 EPS for the current fiscal year.
Insider Buying and Selling at Gates Industrial
In related news, Director Peifang Zhang sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $29.56, for a total transaction of $177,360.00. Following the completion of the sale, the director directly owned 44,044 shares of the company’s stock, valued at $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 SEC, which is available at this link. 2.80% of the stock is currently owned by company insiders.
Institutional Trading of Gates Industrial
A number of institutional investors have recently bought and sold shares of the business. Sequoia Financial Advisors LLC increased its holdings in Gates Industrial by 93.1% in the second quarter. Sequoia Financial Advisors LLC now owns 34,116 shares of the company’s stock valued at $954,000 after purchasing an additional 16,451 shares during the last quarter. Tidal Investments LLC boosted its stake in Gates Industrial by 2.6% during the 2nd quarter. Tidal Investments LLC now owns 597,076 shares of the company’s stock worth $16,700,000 after acquiring an additional 15,203 shares during the last quarter. Integrated Wealth Concepts LLC bought a new position in Gates Industrial during the 2nd quarter worth approximately $120,000. NewEdge Advisors LLC grew its holdings in Gates Industrial by 848.5% during the second quarter. NewEdge Advisors LLC now owns 8,527 shares of the company’s stock valued at $239,000 after purchasing an additional 7,628 shares during the period. Finally, Squarepoint Ops LLC acquired a new position in Gates Industrial during the second quarter valued at approximately $1,750,000. Institutional investors and hedge funds own 98.50% of the company’s stock.
About Gates Industrial
Gates Industrial Corporation plc (NYSE: GTES) is a global manufacturer of power transmission and fluid power products. The company supplies engineered components used to transfer motion and power, control the flow of fluids, and manage industrial and automotive systems.
Its product portfolio includes synchronous and V-belts, belt drives, hydraulic and industrial hose systems, couplings, tensioners, pulleys, and related replacement and maintenance products. Gates serves original equipment manufacturers and aftermarket customers across industries such as industrial machinery, energy, transportation, agriculture, construction, and automotive.
Gates traces its history to 1911, when Charles Gates acquired a Colorado tire and rubber company.
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