Gates Industrial (NYSE:GTES) Sets New 52-Week High – Time to Buy?

Shares of Gates Industrial Corporation PLC (NYSE:GTES) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $28.56 and last traded at $28.4770, with a volume of 129416 shares. The stock had previously closed at $27.69.

Analysts Set New Price Targets

Several analysts have weighed in on GTES shares. Robert W. Baird cut their target price 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. Barclays decreased their price target on Gates Industrial from $32.00 to $28.00 and set an “overweight” rating for the company in a research note on Wednesday, April 1st. Morgan Stanley lifted their price objective on shares of Gates Industrial from $27.00 to $28.00 and gave the company an “equal weight” rating in a research note on Friday, May 29th. Weiss Ratings downgraded shares of Gates Industrial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, April 1st. Finally, Wall Street Zen lowered shares of Gates Industrial from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 10th. Seven equities 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.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $31.00.

Gates Industrial Stock Up 2.7%

The firm has a 50-day moving average of $25.43 and a two-hundred day moving average of $24.25. The stock has a market capitalization of $7.22 billion, a price-to-earnings ratio of 29.68 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.

Gates Industrial (NYSE:GTES) last released its earnings results on Friday, May 1st. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.03. The company had revenue of $851.10 million for the quarter, compared to analysts’ expectations of $859.72 million. Gates Industrial had a return on equity of 10.00% and a net margin of 7.23%.The business’s revenue for the quarter was up .4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.36 EPS. Gates Industrial has set its FY 2026 guidance at 1.520-1.680 EPS. As a group, sell-side analysts anticipate that Gates Industrial Corporation PLC will post 1.54 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Parallel Advisors LLC raised its stake in shares of Gates Industrial by 37.7% during the 1st quarter. Parallel Advisors LLC now owns 2,536 shares of the company’s stock worth $57,000 after purchasing an additional 694 shares in the last quarter. Bank of America Corp DE raised its position in Gates Industrial by 13.7% during the first quarter. Bank of America Corp DE now owns 1,920,689 shares of the company’s stock valued at $43,427,000 after acquiring an additional 230,836 shares in the last quarter. Janus Henderson Group PLC raised its position in Gates Industrial by 3.8% during the first quarter. Janus Henderson Group PLC now owns 5,230,159 shares of the company’s stock valued at $118,252,000 after acquiring an additional 193,896 shares in the last quarter. Bull Harbor Capital LLC acquired a new stake in Gates Industrial in the first quarter valued at approximately $224,000. Finally, Amundi grew its position in Gates Industrial by 52.0% in the first quarter. Amundi now owns 91,652 shares of the company’s stock worth $2,072,000 after acquiring an additional 31,371 shares in the last quarter. 98.50% of the stock is owned by institutional investors and hedge funds.

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.