Gates Industrial (NYSE:GTES) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Gates Industrial (NYSE:GTES) had its target price hoisted by stock analysts at Wells Fargo & Company from $26.00 to $30.00 in a research report issued on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 4.26% from the stock’s previous close.

GTES has been the topic of a number of other research reports. Robert W. Baird upped their target price on shares of Gates Industrial from $37.00 to $39.00 and gave the stock an “outperform” rating in a report on Monday. Wall Street Zen downgraded shares of Gates Industrial from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Wolfe Research restated an “outperform” rating and set a $33.00 price target on shares of Gates Industrial in a research report on Thursday, July 9th. KeyCorp upped their price target on shares of Gates Industrial from $31.00 to $34.00 and gave the stock an “overweight” rating in a report on Monday. Finally, Morgan Stanley increased their price objective 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. Eight equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Gates Industrial has a consensus rating of “Moderate Buy” and a consensus target price of $32.55.

Gates Industrial Price Performance

GTES stock traded up $0.79 during mid-day trading on Monday, reaching $28.77. 67,190 shares of the company traded hands, compared to its average volume of 2,259,304. The company has a debt-to-equity ratio of 0.58, a current ratio of 3.24 and a quick ratio of 2.36. The company has a market capitalization of $7.31 billion, a P/E ratio of 20.34 and a beta of 1.25. Gates Industrial has a 52-week low of $20.88 and a 52-week high of $29.17. The company has a fifty day moving average price of $26.70 and a 200-day moving average price of $25.40.

Gates Industrial (NYSE:GTES) last announced its quarterly earnings results on Friday, July 31st. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.02. Gates Industrial had a return on equity of 10.11% and a net margin of 10.37%.The firm had revenue of $941.60 million for the quarter, compared to analysts’ expectations of $927.28 million. During the same period in the prior year, the business posted $0.39 earnings per share. The company’s revenue was up 6.6% on a year-over-year basis. Gates Industrial has set its FY 2026 guidance at 1.620-1.700 EPS. As a group, analysts anticipate that Gates Industrial will post 1.53 earnings per share for the current year.

Institutional Trading of Gates Industrial

Hedge funds and other institutional investors have recently bought and sold shares of the company. Paradice Investment Management LLC boosted its stake in shares of Gates Industrial by 8.1% in the 4th quarter. Paradice Investment Management LLC now owns 1,292,301 shares of the company’s stock valued at $27,746,000 after purchasing an additional 97,382 shares in the last quarter. SG Americas Securities LLC raised its position in Gates Industrial by 46.7% in the 4th quarter. SG Americas Securities LLC now owns 70,186 shares of the company’s stock worth $1,507,000 after purchasing an additional 22,338 shares during the period. Van Berkom & Associates Inc. purchased a new position in Gates Industrial in the 4th quarter worth $68,614,000. Arrowstreet Capital Limited Partnership lifted its stake in Gates Industrial by 62.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,251,585 shares of the company’s stock worth $50,908,000 after purchasing an additional 868,734 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd lifted its stake in Gates Industrial by 708.1% in the first quarter. Y Intercept Hong Kong Ltd now owns 257,930 shares of the company’s stock worth $5,832,000 after purchasing an additional 226,012 shares during the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Gates Industrial Company Profile

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.