Gates Industrial (NYSE:GTES) Rating Increased to Hold at DA Davidson

DA Davidson upgraded shares of Gates Industrial (NYSE:GTES) to a hold rating in a report published on Monday,Zacks reports.

A number of other equities research analysts also recently commented on GTES. Wells Fargo & Company increased their price objective on Gates Industrial from $26.00 to $30.00 and gave the company an “equal weight” rating in a research report on Monday, August 3rd. Robert W. Baird lifted their target price on Gates Industrial from $37.00 to $39.00 and gave the stock an “outperform” rating in a report on Monday, August 3rd. Morgan Stanley boosted their target price on Gates Industrial from $27.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Friday, May 29th. Royal Bank Of Canada upped their target price on Gates Industrial from $33.00 to $34.00 and gave the company an “outperform” rating in a report on Monday, August 3rd. Finally, Citigroup increased their price target on Gates Industrial from $33.00 to $35.00 and gave the company a “buy” rating in a research report on Monday, August 3rd. Nine research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, Gates Industrial presently has a consensus rating of “Moderate Buy” and an average target price of $32.45.

Gates Industrial Stock Performance

Shares of GTES opened at $24.85 on Monday. The firm’s 50 day moving average is $27.04 and its 200-day moving average is $25.92. The stock has a market capitalization of $6.29 billion, a P/E ratio of 17.62 and a beta of 1.25. The company has a debt-to-equity ratio of 0.58, a current ratio of 3.24 and a quick ratio of 2.36. Gates Industrial has a 12-month low of $20.88 and a 12-month high of $30.34.

Gates Industrial (NYSE:GTES) last released its earnings results on Friday, July 31st. The company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.42 by $0.02. The business had revenue of $941.60 million during the quarter, compared to analyst estimates of $927.28 million. Gates Industrial had a net margin of 10.37% and a return on equity of 10.11%. The business’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.39 earnings per share. Gates Industrial has set its FY 2026 guidance at 1.620-1.700 EPS. Equities research analysts anticipate that Gates Industrial will post 1.55 EPS for the current fiscal year.

Insider Buying and Selling

In other Gates Industrial news, Director Peifang Zhang sold 6,000 shares of Gates Industrial stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $29.56, for a total transaction of $177,360.00. Following the transaction, the director directly owned 44,044 shares in the company, valued at approximately $1,301,940.64. The trade was a 11.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.80% of the company’s stock.

Institutional Trading of Gates Industrial

A number of hedge funds have recently modified their holdings of the business. Los Angeles Capital Management LLC purchased a new position in shares of Gates Industrial during the fourth quarter valued at $26,000. Transamerica Financial Advisors LLC lifted its stake in Gates Industrial by 51.9% in the 4th quarter. Transamerica Financial Advisors LLC now owns 1,577 shares of the company’s stock worth $34,000 after acquiring an additional 539 shares in the last quarter. Fifth Third Bancorp lifted its stake in Gates Industrial by 46.3% in the 1st quarter. Fifth Third Bancorp now owns 1,624 shares of the company’s stock worth $37,000 after acquiring an additional 514 shares in the last quarter. Parallel Advisors LLC lifted its stake in Gates Industrial by 37.7% in the 1st quarter. Parallel Advisors LLC now owns 2,536 shares of the company’s stock worth $57,000 after acquiring an additional 694 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its position in Gates Industrial by 273.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,911 shares of the company’s stock worth $67,000 after acquiring an additional 2,131 shares during the period. Hedge funds and other 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.