Gates Industrial (NYSE:GTES) Given New $37.00 Price Target at Robert W. Baird

Gates Industrial (NYSE:GTES) had its target price lowered by research analysts at Robert W. Baird from $39.00 to $37.00 in a report issued on Monday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Robert W. Baird’s price target points to a potential upside of 53.53% from the stock’s current price.

Several other brokerages have also recently commented on GTES. Morgan Stanley boosted their price target on Gates Industrial from $25.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 11th. Barclays dropped their price target on Gates Industrial from $32.00 to $28.00 and set an “overweight” rating for the company in a research report on Wednesday, April 1st. Citigroup boosted their price target on Gates Industrial from $27.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday, February 13th. UBS Group reiterated a “buy” rating and set a $33.00 price target on shares of Gates Industrial in a research report on Friday, February 13th. Finally, Weiss Ratings cut Gates Industrial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, April 1st. Seven analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $30.18.

Gates Industrial Stock Up 0.2%

Shares of GTES opened at $24.10 on Monday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.66 and a current ratio of 3.67. Gates Industrial has a one year low of $19.26 and a one year high of $28.47. The stock has a market capitalization of $6.14 billion, a price-to-earnings ratio of 25.10 and a beta of 1.28. The stock has a 50 day moving average price of $24.57 and a 200 day moving average price of $23.73.

Gates Industrial (NYSE:GTES) last issued its quarterly earnings results on Friday, May 1st. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.32 by $0.03. Gates Industrial had a return on equity of 10.00% and a net margin of 7.23%.The firm had revenue of $851.10 million during the quarter, compared to analysts’ expectations of $859.72 million. During the same period in the previous year, the business earned $0.36 earnings per share. The firm’s revenue for the quarter was up .4% on a year-over-year basis. Gates Industrial has set its FY 2026 guidance at 1.520-1.680 EPS. Equities research analysts forecast that Gates Industrial will post 1.53 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Gates Industrial

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Gates Industrial by 5.0% in 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 lifted its stake in shares of Gates Industrial by 5.3% in 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 purchasing an additional 717,353 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Gates Industrial by 3.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 11,250,875 shares of the company’s stock valued at $241,562,000 after purchasing an additional 400,359 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Gates Industrial by 98.7% in the 4th quarter. JPMorgan Chase & Co. now owns 8,373,294 shares of the company’s stock valued at $179,775,000 after purchasing an additional 4,158,341 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in shares of Gates Industrial by 5.9% in the 4th quarter. Invesco Ltd. now owns 8,322,654 shares of the company’s stock valued at $178,687,000 after purchasing an additional 461,160 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.