Gates Industrial Corporation PLC (NYSE:GTES) Sees Large Decrease in Short Interest

Gates Industrial Corporation PLC (NYSE:GTES) saw a large drop in short interest during the month of February. As of February 13th, there was short interest totaling 8,238,677 shares, a drop of 18.1% from the January 29th total of 10,055,997 shares. Based on an average daily trading volume, of 3,738,837 shares, the short-interest ratio is presently 2.2 days. Approximately 3.3% of the shares of the company are short sold. Approximately 3.3% of the shares of the company are short sold. Based on an average daily trading volume, of 3,738,837 shares, the short-interest ratio is presently 2.2 days.

Gates Industrial Trading Down 0.4%

Shares of NYSE GTES traded down $0.10 during midday trading on Wednesday, hitting $26.27. The stock had a trading volume of 2,128,849 shares, compared to its average volume of 2,870,233. The firm has a market cap of $6.67 billion, a P/E ratio of 27.09 and a beta of 1.23. Gates Industrial 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 current ratio of 3.37 and a quick ratio of 2.42. The company’s 50-day simple moving average is $24.54 and its 200 day simple moving average is $24.12.

Gates Industrial (NYSE:GTES) last posted its quarterly earnings results on Thursday, February 12th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.01. The business had revenue of $856.20 million for the quarter, compared to analysts’ expectations of $853.35 million. Gates Industrial had a return on equity of 10.36% and a net margin of 7.30%.The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.36 earnings per share. Gates Industrial has set its FY 2026 guidance at 1.520-1.680 EPS. Research analysts anticipate that Gates Industrial will post 1.36 EPS for the current year.

Institutional Trading of Gates Industrial

A number of institutional investors have recently bought and sold shares of GTES. Caitong International Asset Management Co. Ltd acquired a new position in shares of Gates Industrial in the 4th quarter valued at $72,000. Kera Capital Partners Inc. lifted its stake in Gates Industrial by 34.2% in the fourth quarter. Kera Capital Partners Inc. now owns 25,784 shares of the company’s stock valued at $594,000 after buying an additional 6,565 shares during the period. Dean Capital Management boosted its holdings in Gates Industrial by 3.2% during the fourth quarter. Dean Capital Management now owns 92,225 shares of the company’s stock worth $1,980,000 after buying an additional 2,846 shares during the last quarter. Invesco Ltd. grew its position in shares of Gates Industrial by 5.9% during the 4th quarter. Invesco Ltd. now owns 8,322,654 shares of the company’s stock worth $178,687,000 after buying an additional 461,160 shares during the period. Finally, Corient Private Wealth LLC grew its position in shares of Gates Industrial by 9.3% during the 4th quarter. Corient Private Wealth LLC now owns 190,929 shares of the company’s stock worth $3,890,000 after buying an additional 16,219 shares during the period. Institutional investors and hedge funds own 98.50% of the company’s stock.

Analyst Upgrades and Downgrades

GTES has been the topic of a number of recent research reports. Weiss Ratings restated a “hold (c+)” rating on shares of Gates Industrial in a research report on Monday, December 29th. Wells Fargo & Company began coverage on Gates Industrial in a report on Thursday, November 13th. They issued an “equal weight” rating and a $23.00 price target on the stock. Citigroup boosted their price target 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. UBS Group reaffirmed a “buy” rating and issued a $33.00 price objective on shares of Gates Industrial in a report on Friday, February 13th. Finally, Wall Street Zen upgraded shares of Gates Industrial from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 14th. Six research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $30.27.

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.