Gates Industrial Corporation PLC (NYSE:GTES) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Gates Industrial Corporation PLC (NYSE:GTES) have received an average recommendation of “Moderate Buy” from the twelve brokerages that are presently covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $31.3636.

A number of brokerages have weighed in on GTES. Barclays lowered their price target on Gates Industrial from $32.00 to $28.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 1st. Wall Street Zen downgraded shares of Gates Industrial from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Gates Industrial in a report on Monday, June 29th. Robert W. Baird dropped their target price on shares of Gates Industrial from $39.00 to $37.00 and set an “outperform” rating for the company in a research report on Monday, May 4th. Finally, Royal Bank Of Canada increased their target price on shares of Gates Industrial from $30.00 to $33.00 and gave the stock an “outperform” rating in a research report on Thursday, July 16th.

Gates Industrial Stock Down 6.1%

Shares of GTES opened at $24.82 on Thursday. The company has a quick ratio of 2.66, a current ratio of 3.67 and a debt-to-equity ratio of 0.61. The company has a 50-day moving average price of $26.59 and a two-hundred day moving average price of $25.34. The stock has a market cap of $6.30 billion, a price-to-earnings ratio of 25.85 and a beta of 1.25. Gates Industrial has a 12 month low of $20.88 and a 12 month high of $29.17.

Gates Industrial (NYSE:GTES) last released its quarterly earnings data on Friday, May 1st. The company reported $0.35 earnings per share for the quarter, beating 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 company had revenue of $851.10 million for the quarter, compared to analyst estimates of $859.72 million. During the same period in the prior year, the company posted $0.36 EPS. The company’s revenue was up .4% compared to the same quarter last year. Gates Industrial has set its FY 2026 guidance at 1.520-1.680 EPS. Equities analysts predict that Gates Industrial will post 1.53 EPS for the current fiscal year.

Institutional Trading of Gates Industrial

Several hedge funds have recently modified their holdings of the company. Paradice Investment Management LLC grew its position in Gates Industrial by 8.1% during the 4th quarter. Paradice Investment Management LLC now owns 1,292,301 shares of the company’s stock worth $27,746,000 after acquiring an additional 97,382 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in 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. SG Americas Securities LLC raised its position in Gates Industrial by 46.7% in the 4th quarter. SG Americas Securities LLC now owns 70,186 shares of the company’s stock valued at $1,507,000 after purchasing an additional 22,338 shares during the last quarter. Van Berkom & Associates Inc. bought a new position in Gates Industrial in the 4th quarter valued at $68,614,000. Finally, Impax Asset Management Group plc boosted its stake in Gates Industrial by 48.8% in the fourth quarter. Impax Asset Management Group plc now owns 472,713 shares of the company’s stock worth $10,149,000 after purchasing an additional 155,000 shares in 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.