Gates Industrial (NYSE:GTES) Rating Lowered to Buy at Wall Street Zen

Gates Industrial (NYSE:GTES) was downgraded by stock analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued on Saturday, Wall Street Zen reports.

A number of other brokerages have also commented on GTES. JPMorgan Chase & Co. boosted their price target on Gates Industrial from $32.00 to $34.00 and gave the company an “overweight” rating in a report on Monday, August 3rd. Wolfe Research reiterated an “outperform” rating and set a $33.00 price objective on shares of Gates Industrial in a report on Thursday, July 9th. DA Davidson began coverage on Gates Industrial in a report on Tuesday, September 1st. They set a “neutral” rating and a $29.00 price objective for the company. KeyCorp lifted their target price on Gates Industrial from $31.00 to $34.00 and gave the company an “overweight” rating in a research report on Monday, August 3rd. Finally, Wells Fargo & Company boosted their target price on Gates Industrial from $26.00 to $30.00 and gave the company an “equal weight” rating in a research note 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. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $32.45.

Gates Industrial Trading Down 0.1%

GTES opened at $26.65 on Friday. The stock has a market capitalization of $6.75 billion, a P/E ratio of 18.90 and a beta of 1.28. Gates Industrial has a 12 month low of $20.88 and a 12 month high of $30.34. The firm’s fifty day simple moving average is $26.72 and its 200 day simple moving average is $26.06. The company has a current ratio of 3.24, a quick ratio of 2.36 and a debt-to-equity ratio of 0.58.

Gates Industrial (NYSE:GTES) last announced its earnings results on Friday, July 31st. The company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.02. The firm 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 company’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.39 EPS. Gates Industrial has set its FY 2026 guidance at 1.620-1.700 EPS. As a group, research analysts anticipate that Gates Industrial will post 1.57 EPS for the current fiscal year.

Insider Buying and Selling at Gates Industrial

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

Institutional Investors Weigh In On Gates Industrial

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP grew its stake in shares of Gates Industrial by 2.6% in the first quarter. Dimensional Fund Advisors LP now owns 11,546,581 shares of the company’s stock valued at $261,040,000 after buying an additional 295,706 shares in the last quarter. Janus Henderson Group PLC increased its holdings 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 worth $118,252,000 after buying an additional 193,896 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Gates Industrial by 1.7% during the first quarter. Bank of New York Mellon Corp now owns 2,346,443 shares of the company’s stock worth $53,053,000 after buying an additional 38,645 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Gates Industrial by 62.8% during the first quarter. Arrowstreet Capital Limited Partnership now owns 2,251,585 shares of the company’s stock worth $50,908,000 after buying an additional 868,734 shares during the last quarter. Finally, Quantinno Capital Management LP raised its position in Gates Industrial by 12.3% during the first quarter. Quantinno Capital Management LP now owns 2,101,565 shares of the company’s stock worth $47,516,000 after acquiring an additional 230,147 shares in the last quarter. Institutional investors own 98.50% of the company’s stock.

Gates Industrial Company Profile

Gates Industrial Corporation plc (NYSE: GTES) is a global manufacturer of engineered power transmission and fluid power products. The company develops and supplies belts, hoses, hydraulic components, and related systems used to transfer power, control motion, and manage the flow of fluids in industrial and mobile equipment.

Its products serve a broad range of markets, including automotive and industrial aftermarket, construction, agriculture, energy, manufacturing, transportation, and other applications requiring durable motion and fluid-management solutions.