Gates Industrial (NYSE:GTES) Sets New 12-Month High – What’s Next?

Gates Industrial Corporation PLC (NYSE:GTES)’s stock price hit a new 52-week high during trading on Wednesday . The company traded as high as $28.56 and last traded at $28.4770, with a volume of 129416 shares trading hands. The stock had previously closed at $27.69.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Robert W. Baird lowered their price target on Gates Industrial from $39.00 to $37.00 and set an “outperform” rating on the stock in a report on Monday, May 4th. Morgan Stanley lifted their target price on Gates Industrial from $27.00 to $28.00 and gave the company an “equal weight” rating in a research note on Friday, May 29th. Barclays cut their price target on Gates Industrial from $32.00 to $28.00 and set an “overweight” rating for the company in a research note on Wednesday, April 1st. Wall Street Zen lowered shares of Gates Industrial from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 10th. Finally, Weiss Ratings downgraded shares of Gates Industrial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, April 1st. Seven analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $31.00.

Gates Industrial Trading Up 2.7%

The company has a current ratio of 3.67, a quick ratio of 2.66 and a debt-to-equity ratio of 0.61. The business’s 50-day moving average is $25.43 and its two-hundred day moving average is $24.25. The firm has a market cap of $7.22 billion, a P/E ratio of 29.68 and a beta of 1.27.

Gates Industrial (NYSE:GTES) last posted its earnings results on Friday, May 1st. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.32 by $0.03. The company had revenue of $851.10 million during the quarter, compared to analyst estimates of $859.72 million. Gates Industrial had a return on equity of 10.00% and a net margin of 7.23%.The business’s revenue was up .4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.36 earnings per share. Gates Industrial has set its FY 2026 guidance at 1.520-1.680 EPS. As a group, analysts expect that Gates Industrial Corporation PLC will post 1.54 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Gates Industrial

Several institutional investors have recently modified their holdings of GTES. Los Angeles Capital Management LLC bought a new stake in Gates Industrial in the 4th quarter valued at about $26,000. Transamerica Financial Advisors LLC grew its position in Gates Industrial by 51.9% in the 4th quarter. Transamerica Financial Advisors LLC now owns 1,577 shares of the company’s stock worth $34,000 after purchasing an additional 539 shares during the last quarter. Fifth Third Bancorp increased its stake in shares of Gates Industrial by 46.3% in the first quarter. Fifth Third Bancorp now owns 1,624 shares of the company’s stock valued at $37,000 after purchasing an additional 514 shares during the period. Parallel Advisors LLC increased its stake in shares of Gates Industrial by 37.7% in the first quarter. Parallel Advisors LLC now owns 2,536 shares of the company’s stock valued at $57,000 after purchasing an additional 694 shares during the period. Finally, Assetmark Inc. raised its holdings in shares of Gates Industrial by 38.1% during the third quarter. Assetmark Inc. now owns 2,448 shares of the company’s stock valued at $61,000 after buying an additional 676 shares during the last quarter. Institutional investors own 98.50% of the company’s stock.

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.