Gates Industrial (NYSE:GTES – Get Free Report) was upgraded by investment analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued on Saturday, Wall Street Zen reports.
Several other analysts have also recently issued reports on GTES. Wolfe Research restated an “outperform” rating and set a $33.00 price objective on shares of Gates Industrial in a research note on Thursday, July 9th. DA Davidson began coverage on Gates Industrial in a research report on Tuesday, September 1st. They issued a “neutral” rating and a $29.00 target price for the company. Royal Bank Of Canada boosted their price target on Gates Industrial from $33.00 to $34.00 and gave the company an “outperform” rating in a report on Monday, August 3rd. Morgan Stanley boosted their target price on shares of Gates Industrial from $27.00 to $28.00 and gave the company an “equal weight” rating in a research note on Friday, May 29th. Finally, KeyCorp increased their target price on shares of Gates Industrial from $31.00 to $34.00 and gave the stock an “overweight” rating in a report on Monday, August 3rd. Nine investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.45.
Read Our Latest Research Report on GTES
Gates Industrial Stock Performance
Gates Industrial (NYSE:GTES – Get Free Report) last posted its 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. Gates Industrial had a return on equity of 10.11% and a net margin of 10.37%.The business had revenue of $941.60 million during the quarter, compared to analyst estimates of $927.28 million. During the same quarter last year, the firm earned $0.39 earnings per share. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. Gates Industrial has set its FY 2026 guidance at 1.620-1.700 EPS. Equities analysts predict that Gates Industrial will post 1.57 EPS for the current year.
Insider Transactions at Gates Industrial
In other news, Director Peifang Zhang sold 6,000 shares of the firm’s stock in a transaction dated 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 transaction, the director owned 44,044 shares in the company, valued at approximately $1,301,940.64. This trade represents a 11.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 2.80% of the company’s stock.
Institutional Investors Weigh In On Gates Industrial
Several hedge funds have recently made changes to their positions in GTES. Fifth Third Bancorp boosted its stake in shares of Gates Industrial by 46.3% during the 1st quarter. Fifth Third Bancorp now owns 1,624 shares of the company’s stock valued at $37,000 after buying an additional 514 shares during the period. Parallel Advisors LLC increased its stake in shares of Gates Industrial by 37.7% in the first quarter. Parallel Advisors LLC now owns 2,536 shares of the company’s stock worth $57,000 after acquiring an additional 694 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of Gates Industrial in the fourth quarter worth $72,000. Integrated Wealth Concepts LLC purchased a new stake in shares of Gates Industrial during the second quarter worth $120,000. Finally, Global Retirement Partners LLC raised its holdings in shares of Gates Industrial by 141.5% during the fourth quarter. Global Retirement Partners LLC now owns 4,675 shares of the company’s stock worth $100,000 after acquiring an additional 2,739 shares in the last quarter. Hedge funds and other institutional investors 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.
Featured Stories
- Five stocks we like better than Gates Industrial
- Data Centers Got the AI Hype—But Office REITs May Get the Rent Hikes
- 2 Cybersecurity Stocks Breaking Out as AI Continues to Be a Tailwind
- 3 More AI Infrastructure Plays Beyond the Big Names
- CAVA Stock Slips: Sector Fear or Valuation Reality?
Receive News & Ratings for Gates Industrial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gates Industrial and related companies with MarketBeat.com's FREE daily email newsletter.
