Gates Industrial (NYSE:GTES) Raised to Strong-Buy at Wall Street Zen

Gates Industrial (NYSE:GTES) was upgraded by stock analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued on Sunday.

Several other equities analysts have also weighed in on the stock. JPMorgan Chase & Co. cut their price objective on shares of Gates Industrial from $33.00 to $32.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 16th. Weiss Ratings raised shares of Gates Industrial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, March 13th. Citigroup increased 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. Morgan Stanley raised their price target on shares of Gates Industrial from $25.00 to $27.00 and gave the company an “equal weight” rating in a report on Wednesday, March 11th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $31.00 price objective on shares of Gates Industrial in a research note on Friday, February 13th. Seven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Gates Industrial currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.73.

Gates Industrial Stock Performance

Shares of NYSE GTES opened at $21.06 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.37 and a quick ratio of 2.42. Gates Industrial has a one year low of $14.70 and a one year high of $28.47. The business’s 50-day moving average price is $24.83 and its two-hundred day moving average price is $23.82. The company has a market capitalization of $5.35 billion, a P/E ratio of 21.72 and a beta of 1.22.

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

Hedge Funds Weigh In On Gates Industrial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Empowered Funds LLC bought a new position in shares of Gates Industrial in the first quarter valued at approximately $381,000. Creative Planning boosted its holdings 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 buying an additional 5,404 shares during the period. Legal & General Group Plc boosted its holdings in shares of Gates Industrial by 5.6% during the 2nd quarter. Legal & General Group Plc now owns 655,571 shares of the company’s stock worth $15,098,000 after buying an additional 34,681 shares during the period. Rhumbline Advisers grew its stake in Gates Industrial by 2.7% in the 2nd quarter. Rhumbline Advisers now owns 513,839 shares of the company’s stock valued at $11,834,000 after buying an additional 13,698 shares during the last quarter. Finally, Prudential Financial Inc. grew its stake in Gates Industrial by 52.7% in the 2nd quarter. Prudential Financial Inc. now owns 17,940 shares of the company’s stock valued at $389,000 after buying an additional 6,190 shares during the last quarter. Institutional investors and hedge funds 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.