Gates Industrial (NYSE:GTES) Stock Rating Lowered by Wall Street Zen

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

A number of other analysts have also recently commented on the company. JPMorgan Chase & Co. lowered their price target on Gates Industrial from $33.00 to $32.00 and set an “overweight” rating for the company in a research note on Tuesday, December 16th. Robert W. Baird set a $39.00 price objective on shares of Gates Industrial in a report on Friday, February 13th. Weiss Ratings raised shares of Gates Industrial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, March 13th. Citigroup increased their target price on shares of Gates Industrial from $27.00 to $33.00 and gave the stock a “buy” rating in a report on Friday, February 13th. Finally, Morgan Stanley lifted their price target on shares of Gates Industrial from $25.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 11th. Seven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.73.

Gates Industrial Stock Down 1.9%

NYSE:GTES opened at $21.72 on Friday. 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 stock’s fifty day simple moving average is $24.85 and its 200-day simple moving average is $23.96. The firm has a market capitalization of $5.51 billion, a P/E ratio of 22.39 and a beta of 1.22.

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

Institutional Trading of Gates Industrial

A number of institutional investors have recently modified their holdings of GTES. JPMorgan Chase & Co. grew its holdings in shares of 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 in the last quarter. Norges Bank bought a new stake in Gates Industrial in the 2nd quarter valued at approximately $80,713,000. Van Berkom & Associates Inc. bought a new stake in Gates Industrial in the 4th quarter valued at approximately $68,614,000. Adage Capital Partners GP L.L.C. acquired a new position in Gates Industrial during the 2nd quarter worth approximately $32,255,000. Finally, Vanguard Group Inc. boosted its position in Gates Industrial by 5.0% during the 3rd quarter. Vanguard Group Inc. now owns 26,753,365 shares of the company’s stock worth $664,019,000 after acquiring an additional 1,281,339 shares during the last quarter. 98.50% of the stock is currently owned by institutional investors.

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.