Gates Industrial (NYSE:GTES) Price Target Raised to $27.00 at Morgan Stanley

Gates Industrial (NYSE:GTES) had its price objective raised by stock analysts at Morgan Stanley from $25.00 to $27.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price target suggests a potential upside of 13.92% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. Citigroup boosted their price target on shares of Gates Industrial from $27.00 to $33.00 and gave the stock a “buy” rating in a research note on Friday, February 13th. Robert W. Baird set a $39.00 price objective on Gates Industrial in a research report on Friday, February 13th. UBS Group reaffirmed a “buy” rating and issued a $33.00 target price on shares of Gates Industrial in a report on Friday, February 13th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Gates Industrial in a research report on Monday, December 29th. Finally, Barclays raised their price target on Gates Industrial from $26.00 to $32.00 and gave the company an “overweight” rating in a report on Friday, February 13th. Six research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $30.73.

Gates Industrial Price Performance

GTES stock traded down $0.57 during midday trading on Wednesday, hitting $23.70. The company’s stock had a trading volume of 917,281 shares, compared to its average volume of 2,547,028. The company has a quick ratio of 2.42, a current ratio of 3.37 and a debt-to-equity ratio of 0.61. Gates Industrial has a 12 month low of $14.70 and a 12 month high of $28.47. The company has a 50 day moving average of $24.75 and a two-hundred day moving average of $24.11. The firm has a market capitalization of $6.02 billion, a price-to-earnings ratio of 24.40 and a beta of 1.23.

Gates Industrial (NYSE:GTES) last released 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. Gates Industrial had a net margin of 7.30% and a return on equity of 10.36%. The firm had revenue of $856.20 million for the quarter, compared to the consensus estimate of $853.35 million. During the same quarter in the previous year, the firm earned $0.36 earnings per share. The company’s quarterly revenue was up 3.2% compared to the same quarter last year. Gates Industrial has set its FY 2026 guidance at 1.520-1.680 EPS. On average, analysts expect that Gates Industrial will post 1.36 EPS for the current year.

Hedge Funds Weigh In On Gates Industrial

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Gates Industrial by 5.0% during the 3rd quarter. Vanguard Group Inc. now owns 26,753,365 shares of the company’s stock valued at $664,019,000 after purchasing an additional 1,281,339 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Gates Industrial by 5.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 14,169,457 shares of the company’s stock valued at $312,578,000 after buying an additional 717,353 shares during the period. Dimensional Fund Advisors LP lifted its position in Gates Industrial by 3.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 11,250,875 shares of the company’s stock worth $241,562,000 after buying an additional 400,359 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Gates Industrial by 98.7% during the fourth quarter. JPMorgan Chase & Co. now owns 8,373,294 shares of the company’s stock worth $179,775,000 after buying an additional 4,158,341 shares during the period. Finally, Invesco Ltd. increased its position in Gates Industrial by 5.9% during the fourth quarter. Invesco Ltd. now owns 8,322,654 shares of the company’s stock valued at $178,687,000 after acquiring an additional 461,160 shares during the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Gates Industrial Company Profile

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.