Gates Industrial Corporation PLC (NYSE:GTES) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Gates Industrial Corporation PLC (NYSE:GTES) have been given a consensus rating of “Moderate Buy” by the thirteen research firms that are covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $27.1667.

A number of equities research analysts have recently issued reports on the stock. Barclays reissued an “overweight” rating and set a $28.00 price objective (up previously from $26.00) on shares of Gates Industrial in a research report on Monday, August 4th. Zacks Research lowered Gates Industrial from a “strong-buy” rating to a “hold” rating in a report on Monday, October 13th. UBS Group decreased their price objective on Gates Industrial from $30.00 to $29.00 and set a “buy” rating on the stock in a research note on Thursday, November 6th. Citigroup cut their price objective on Gates Industrial from $31.00 to $28.00 and set a “buy” rating for the company in a research note on Thursday, October 30th. Finally, Industrial Alliance Securities set a $35.00 target price on shares of Gates Industrial in a report on Monday, August 25th.

Gates Industrial Stock Up 3.0%

Shares of Gates Industrial stock opened at $21.82 on Friday. Gates Industrial has a twelve month low of $14.70 and a twelve month high of $26.46. The company has a quick ratio of 2.50, a current ratio of 3.52 and a debt-to-equity ratio of 0.61. The company’s 50 day moving average is $24.15 and its 200 day moving average is $23.71. The company has a market cap of $5.63 billion, a price-to-earnings ratio of 23.97 and a beta of 1.25.

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

Insider Activity

In related news, CFO Lawrence B. Mallard sold 22,188 shares of Gates Industrial stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $22.77, for a total transaction of $505,220.76. Following the transaction, the chief financial officer owned 177,627 shares in the company, valued at approximately $4,044,566.79. The trade was a 11.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Gates Industrial

Several large investors have recently made changes to their positions in the business. CIBC Bancorp USA Inc. purchased a new stake in shares of Gates Industrial during the third quarter worth about $265,000. Centaurus Financial Inc. boosted its stake in Gates Industrial by 30.4% in the 3rd quarter. Centaurus Financial Inc. now owns 10,431 shares of the company’s stock worth $259,000 after purchasing an additional 2,431 shares during the period. Coldstream Capital Management Inc. boosted its stake in Gates Industrial by 6.4% in the 3rd quarter. Coldstream Capital Management Inc. now owns 13,439 shares of the company’s stock worth $334,000 after purchasing an additional 809 shares during the period. Danske Bank A S purchased a new stake in Gates Industrial during the 3rd quarter valued at approximately $1,055,000. Finally, Castleark Management LLC raised its position in shares of Gates Industrial by 3.9% during the third quarter. Castleark Management LLC now owns 398,452 shares of the company’s stock valued at $9,890,000 after buying an additional 14,982 shares during the last quarter. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

Gates Industrial Company Profile

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.