Penn Capital Management Company LLC Buys Shares of 609,240 Gates Industrial Corporation PLC $GTES

Penn Capital Management Company LLC bought a new position in Gates Industrial Corporation PLC (NYSE:GTES) in the third quarter, Holdings Channel.com reports. The institutional investor bought 609,240 shares of the company’s stock, valued at approximately $15,162,000.

Several other hedge funds have also modified their holdings of GTES. CIBC Bancorp USA Inc. bought a new position in shares of Gates Industrial during the 3rd quarter worth approximately $265,000. Centaurus Financial Inc. increased its position in shares of Gates Industrial by 30.4% during the third quarter. Centaurus Financial Inc. now owns 10,431 shares of the company’s stock worth $259,000 after purchasing an additional 2,431 shares in the last quarter. Coldstream Capital Management Inc. lifted its holdings in shares of Gates Industrial by 6.4% during the 3rd quarter. Coldstream Capital Management Inc. now owns 13,439 shares of the company’s stock valued at $334,000 after purchasing an additional 809 shares during the last quarter. Danske Bank A S acquired a new stake in shares of Gates Industrial in the 3rd quarter worth $1,055,000. Finally, Castleark Management LLC grew its stake in Gates Industrial by 3.9% during the 3rd quarter. Castleark Management LLC now owns 398,452 shares of the company’s stock worth $9,890,000 after buying an additional 14,982 shares during the last quarter. 98.50% of the stock is owned by hedge funds and other institutional investors.

Gates Industrial Price Performance

Shares of GTES opened at $23.23 on Wednesday. The business’s 50-day moving average is $24.86 and its two-hundred day moving average is $24.02. The company has a market capitalization of $5.90 billion, a P/E ratio of 23.95 and a beta of 1.23. Gates Industrial Corporation PLC has a fifty-two week low of $14.70 and a fifty-two week high of $28.47. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.42 and a current ratio of 3.37.

Gates Industrial (NYSE:GTES) last posted 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 for the quarter, compared to analyst estimates of $853.35 million. Gates Industrial had a return on equity of 10.36% and a net margin of 7.30%.Gates Industrial’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period last year, the company earned $0.36 earnings per share. Gates Industrial has set its FY 2026 guidance at 1.520-1.680 EPS. Research analysts predict that Gates Industrial Corporation PLC will post 1.36 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on GTES. Barclays raised their price target on Gates Industrial from $26.00 to $32.00 and gave the stock an “overweight” rating in a report on Friday, February 13th. JPMorgan Chase & Co. dropped their target price on shares of Gates Industrial from $33.00 to $32.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 16th. UBS Group reaffirmed a “buy” rating and issued a $33.00 price target on shares of Gates Industrial in a report on Friday, February 13th. Citigroup boosted their price objective on shares of Gates Industrial from $27.00 to $33.00 and gave the company a “buy” rating in a report on Friday, February 13th. Finally, Weiss Ratings raised Gates Industrial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday. Seven investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Gates Industrial currently has an average rating of “Moderate Buy” and a consensus price target of $30.73.

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.