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

Shares of Gates Industrial Corporation PLC (NYSE:GTES) have received a consensus rating of “Moderate Buy” from the twelve ratings firms that are covering the company, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $30.1818.

GTES has been the subject of several recent research reports. Weiss Ratings downgraded shares of Gates Industrial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, April 1st. Morgan Stanley increased their target price on shares of Gates Industrial from $25.00 to $27.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 11th. Robert W. Baird dropped their target price on shares of Gates Industrial from $39.00 to $37.00 and set an “outperform” rating for the company in a report on Monday, May 4th. Citigroup increased their target price on shares of Gates Industrial from $27.00 to $33.00 and gave the stock a “buy” rating in a report on Friday, February 13th. Finally, Barclays dropped their target price on shares of Gates Industrial from $32.00 to $28.00 and set an “overweight” rating for the company in a report on Wednesday, April 1st.

Institutional Trading of Gates Industrial

A number of institutional investors have recently modified their holdings of GTES. JPMorgan Chase & Co. boosted its holdings in shares of Gates Industrial by 98.7% during the fourth quarter. JPMorgan Chase & Co. now owns 8,373,294 shares of the company’s stock worth $179,775,000 after purchasing an additional 4,158,341 shares during the period. Norges Bank bought a new position in Gates Industrial in the fourth quarter worth about $74,843,000. Van Berkom & Associates Inc. bought a new position in Gates Industrial in the fourth quarter worth about $68,614,000. Adage Capital Partners GP L.L.C. bought a new position in Gates Industrial in the second quarter worth about $32,255,000. Finally, Vanguard Group Inc. raised its stake in Gates Industrial by 5.0% in the third quarter. Vanguard Group Inc. now owns 26,753,365 shares of the company’s stock worth $664,019,000 after buying an additional 1,281,339 shares in the last quarter. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

Gates Industrial Stock Performance

Gates Industrial stock opened at $24.41 on Friday. 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 company has a market capitalization of $6.20 billion, a PE ratio of 25.42 and a beta of 1.28. The firm has a fifty day simple moving average of $24.25 and a two-hundred day simple moving average of $23.73. Gates Industrial has a twelve month low of $20.39 and a twelve month high of $28.47.

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

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.