Gates Industrial (NYSE:GTES) Price Target Cut to $28.00 by Analysts at Barclays

Gates Industrial (NYSE:GTES) had its price target lowered by research analysts at Barclays from $32.00 to $28.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price target would indicate a potential upside of 21.02% from the company’s current price.

Several other brokerages have also weighed in on GTES. Weiss Ratings upgraded shares of Gates Industrial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, March 13th. Citigroup raised their price target on shares of Gates Industrial from $27.00 to $33.00 and gave the stock a “buy” rating in a research note on Friday, February 13th. Robert W. Baird set a $39.00 price objective on Gates Industrial in a report on Friday, February 13th. JPMorgan Chase & Co. lowered their price objective on Gates Industrial from $33.00 to $32.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 16th. Finally, UBS Group reissued a “buy” rating and issued a $33.00 target price on shares of Gates Industrial in a report on Friday, February 13th. Seven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Gates Industrial has an average rating of “Moderate Buy” and a consensus price target of $30.36.

Gates Industrial Stock Performance

Shares of GTES traded up $0.53 on Wednesday, reaching $23.14. 856,195 shares of the stock traded hands, compared to its average volume of 2,559,667. The stock’s 50-day moving average price is $24.83 and its 200-day moving average price is $23.80. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.37 and a quick ratio of 2.42. The firm has a market cap of $5.87 billion, a price-to-earnings ratio of 23.86 and a beta of 1.23. Gates Industrial has a 12 month low of $14.70 and a 12 month high of $28.47.

Gates Industrial (NYSE:GTES) last issued its earnings results on Thursday, February 12th. The company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.37 by $0.01. The firm had revenue of $856.20 million during the quarter, compared to analysts’ expectations of $853.35 million. Gates Industrial had a return on equity of 10.36% and a net margin of 7.30%.Gates Industrial’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period last year, the business earned $0.36 earnings per share. Gates Industrial has set its FY 2026 guidance at 1.520-1.680 EPS. Equities analysts forecast that Gates Industrial will post 1.36 EPS for the current fiscal year.

Hedge Funds Weigh In On Gates Industrial

Several institutional investors have recently added to or reduced their stakes in GTES. JPMorgan Chase & Co. grew its stake 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 valued at $179,775,000 after purchasing an additional 4,158,341 shares during the last quarter. Norges Bank bought a new position in Gates Industrial in the 2nd quarter worth approximately $80,713,000. Van Berkom & Associates Inc. acquired a new position in Gates Industrial during the 4th quarter worth $68,614,000. Adage Capital Partners GP L.L.C. acquired a new position in Gates Industrial during the 2nd quarter worth $32,255,000. Finally, Vanguard Group Inc. boosted its position in Gates Industrial by 5.0% in the 3rd quarter. Vanguard Group Inc. now owns 26,753,365 shares of the company’s stock valued at $664,019,000 after buying an additional 1,281,339 shares during the last quarter. 98.50% of the stock is owned by institutional investors.

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.