Gates Industrial Corporation PLC (NYSE:GTES) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Gates Industrial Corporation PLC (NYSE:GTES) have been assigned an average rating of “Moderate Buy” from the eleven brokerages that are currently covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $31.00.

A number of equities research analysts recently weighed in on the company. Royal Bank Of Canada restated an “outperform” rating and issued a $31.00 price target on shares of Gates Industrial in a research note on Friday, February 13th. Barclays dropped their price target on Gates Industrial from $32.00 to $28.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 1st. Citigroup increased their price target on Gates Industrial from $27.00 to $33.00 and gave the company a “buy” rating in a research note on Friday, February 13th. UBS Group restated a “buy” rating and issued a $33.00 price target on shares of Gates Industrial in a research note on Friday, February 13th. Finally, Robert W. Baird dropped their price target on Gates Industrial from $39.00 to $37.00 and set an “outperform” rating on the stock in a research note on Monday, May 4th.

Gates Industrial Trading Up 2.9%

Shares of Gates Industrial stock opened at $26.59 on Wednesday. Gates Industrial has a 12-month low of $20.88 and a 12-month high of $28.47. The stock has a market cap of $6.75 billion, a P/E ratio of 27.69 and a beta of 1.27. The company has a quick ratio of 2.66, a current ratio of 3.67 and a debt-to-equity ratio of 0.61. The business’s 50 day moving average is $24.54 and its 200-day moving average is $23.90.

Gates Industrial (NYSE:GTES) last announced its quarterly earnings data on Friday, May 1st. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.03. Gates Industrial had a return on equity of 10.00% and a net margin of 7.23%.The company had revenue of $851.10 million for the quarter, compared to analysts’ expectations of $859.72 million. During the same quarter in the prior year, the business posted $0.36 EPS. The business’s revenue was up .4% compared to the same quarter last year. Gates Industrial has set its FY 2026 guidance at 1.520-1.680 EPS. Equities research analysts predict that Gates Industrial will post 1.53 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Gates Industrial

Large investors have recently added to or reduced their stakes in the business. Bank of America Corp DE increased its position in Gates Industrial by 13.7% during the 1st quarter. Bank of America Corp DE now owns 1,920,689 shares of the company’s stock worth $43,427,000 after buying an additional 230,836 shares during the period. Janus Henderson Group PLC increased its position in Gates Industrial by 3.8% during the 1st quarter. Janus Henderson Group PLC now owns 5,230,159 shares of the company’s stock worth $118,252,000 after buying an additional 193,896 shares during the period. Bull Harbor Capital LLC bought a new position in Gates Industrial during the 1st quarter worth $224,000. Amundi increased its position in Gates Industrial by 52.0% during the 1st quarter. Amundi now owns 91,652 shares of the company’s stock worth $2,072,000 after buying an additional 31,371 shares during the period. Finally, California State Teachers Retirement System increased its position in Gates Industrial by 24.2% during the 1st quarter. California State Teachers Retirement System now owns 303,123 shares of the company’s stock worth $6,854,000 after buying an additional 58,990 shares during the period. Institutional investors own 98.50% of the company’s stock.

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.