Gates Industrial Corporation PLC (NYSE:GTES) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Gates Industrial Corporation PLC (NYSE:GTES) have been assigned a consensus rating of “Moderate Buy” from the eleven analysts that are presently covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $31.00.

A number of research firms have weighed in on GTES. Wall Street Zen downgraded Gates Industrial from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 10th. Morgan Stanley upped their price target on Gates Industrial from $27.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Friday. Robert W. Baird reduced their price target on Gates Industrial from $39.00 to $37.00 and set an “outperform” rating for the company in a research report on Monday, May 4th. Weiss Ratings downgraded Gates Industrial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, April 1st. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $31.00 price target on shares of Gates Industrial in a research report on Friday, February 13th.

Institutional Investors Weigh In On Gates Industrial

A number of institutional investors and hedge funds have recently made changes to their positions in GTES. Empowered Funds LLC bought a new stake in shares of Gates Industrial during the 1st quarter worth approximately $381,000. Creative Planning raised its stake in shares of Gates Industrial by 53.9% during the 2nd quarter. Creative Planning now owns 15,435 shares of the company’s stock worth $355,000 after purchasing an additional 5,404 shares in the last quarter. Prudential Financial Inc. raised its stake in shares of Gates Industrial by 52.7% during the 2nd quarter. Prudential Financial Inc. now owns 17,940 shares of the company’s stock worth $389,000 after purchasing an additional 6,190 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of 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 purchasing an additional 2,131 shares in the last quarter. Finally, M&T Bank Corp raised its stake in shares of Gates Industrial by 8.6% during the 2nd quarter. M&T Bank Corp now owns 11,801 shares of the company’s stock worth $272,000 after purchasing an additional 937 shares in the last quarter. Institutional investors own 98.50% of the company’s stock.

Gates Industrial Trading Up 2.9%

NYSE:GTES opened at $26.59 on Wednesday. Gates Industrial has a twelve month low of $20.88 and a twelve month high of $28.47. 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 business has a 50 day moving average price of $24.54 and a two-hundred day moving average price of $23.90. The company has a market cap of $6.75 billion, a P/E ratio of 27.69 and a beta of 1.27.

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