Campbell & CO Investment Adviser LLC Invests $974,000 in Gates Industrial Corporation PLC $GTES

Campbell & CO Investment Adviser LLC bought a new stake in shares of Gates Industrial Corporation PLC (NYSE:GTES) in the second quarter, HoldingsChannel reports. The institutional investor bought 42,311 shares of the company’s stock, valued at approximately $974,000.

Several other hedge funds have also recently modified their holdings of the business. SVB Wealth LLC bought a new stake in Gates Industrial during the 1st quarter valued at $34,000. Steph & Co. acquired a new position in shares of Gates Industrial during the second quarter valued at about $70,000. Aristeia Capital L.L.C. purchased a new position in shares of Gates Industrial in the first quarter worth $193,000. Aaron Wealth Advisors LLC acquired a new stake in Gates Industrial during the 2nd quarter worth about $205,000. Finally, Xponance Inc. lifted its holdings in shares of Gates Industrial by 8.7% during the first quarter. Xponance Inc. now owns 11,359 shares of the company’s stock worth $209,000 after purchasing an additional 909 shares during the period. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Analyst Upgrades and Downgrades

GTES has been the topic of several recent research reports. Barclays reaffirmed an “overweight” rating and issued a $28.00 price target (up from $26.00) on shares of Gates Industrial in a report on Monday, August 4th. UBS Group decreased their price objective on shares of Gates Industrial from $30.00 to $29.00 and set a “buy” rating on the stock in a report on Thursday, November 6th. Royal Bank Of Canada dropped their price target on Gates Industrial from $29.00 to $26.00 and set an “outperform” rating for the company in a research report on Thursday, October 30th. KeyCorp reiterated an “overweight” rating and issued a $30.00 price objective (up previously from $26.00) on shares of Gates Industrial in a report on Thursday, July 31st. Finally, Industrial Alliance Securities set a $35.00 price target on Gates Industrial in a report on Monday, August 25th. Seven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Gates Industrial presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.55.

Gates Industrial Trading Up 2.4%

NYSE GTES opened at $22.75 on Thursday. The firm has a 50 day simple moving average of $24.71 and a 200-day simple moving average of $23.61. The firm has a market cap of $5.88 billion, a price-to-earnings ratio of 25.00 and a beta of 1.25. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.50 and a current ratio of 3.52. Gates Industrial Corporation PLC has a one year low of $14.70 and a one year high of $26.46.

Gates Industrial (NYSE:GTES) last announced its quarterly earnings data on Wednesday, October 29th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.01. The business had revenue of $855.70 million for the quarter, compared to analysts’ expectations of $860.95 million. Gates Industrial had a return on equity of 10.38% and a net margin of 6.93%.The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period last year, the firm earned $0.33 earnings per share. Gates Industrial has set its FY 2025 guidance at 1.480-1.520 EPS. Equities research analysts anticipate that Gates Industrial Corporation PLC will post 1.36 EPS for the current fiscal year.

About Gates Industrial

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.