Analysts Set Gates Industrial Corporation PLC (NYSE:GTES) Price Target at $33.00

Gates Industrial Corporation PLC (NYSE:GTES) has earned an average recommendation of “Moderate Buy” from the twelve analysts that are currently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $33.00.

A number of analysts have recently commented on GTES shares. Wall Street Zen upgraded Gates Industrial from a “hold” rating to a “strong-buy” rating in a research report on Saturday, August 8th. KeyCorp raised their price target on Gates Industrial from $31.00 to $34.00 and gave the stock an “overweight” rating in a research note on Monday, August 3rd. Robert W. Baird lifted their price target on Gates Industrial from $37.00 to $39.00 and gave the stock an “outperform” rating in a research report on Monday, August 3rd. Wolfe Research reiterated an “outperform” rating and issued a $33.00 price objective on shares of Gates Industrial in a research note on Thursday, July 9th. Finally, Wells Fargo & Company increased their price objective on Gates Industrial from $26.00 to $30.00 and gave the company an “equal weight” rating in a report on Monday, August 3rd.

Gates Industrial Stock Up 0.0%

Shares of NYSE:GTES opened at $25.90 on Monday. Gates Industrial has a fifty-two week low of $20.88 and a fifty-two week high of $30.34. The firm’s 50 day moving average price is $27.30 and its 200 day moving average price is $25.91. The company has a quick ratio of 2.36, a current ratio of 3.24 and a debt-to-equity ratio of 0.58. The stock has a market cap of $6.56 billion, a price-to-earnings ratio of 18.37 and a beta of 1.25.

Gates Industrial (NYSE:GTES) last announced its quarterly earnings results on Friday, July 31st. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.02. The company had revenue of $941.60 million during the quarter, compared to the consensus estimate of $927.28 million. Gates Industrial had a return on equity of 10.11% and a net margin of 10.37%.Gates Industrial’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.39 EPS. Gates Industrial has set its FY 2026 guidance at 1.620-1.700 EPS. As a group, equities research analysts predict that Gates Industrial will post 1.55 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Peifang Zhang sold 6,000 shares of the stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $29.56, for a total transaction of $177,360.00. Following the completion of the sale, the director owned 44,044 shares in the company, valued at $1,301,940.64. This represents a 11.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Gates Industrial

Several large investors have recently modified their holdings of the stock. Paradice Investment Management LLC lifted its holdings in Gates Industrial by 8.1% in the fourth quarter. Paradice Investment Management LLC now owns 1,292,301 shares of the company’s stock valued at $27,746,000 after acquiring an additional 97,382 shares during the period. Van Berkom & Associates Inc. acquired a new position in shares of Gates Industrial during the 4th quarter worth $68,614,000. California State Teachers Retirement System increased its holdings in shares of Gates Industrial by 24.2% in the 1st quarter. California State Teachers Retirement System now owns 303,123 shares of the company’s stock valued at $6,854,000 after purchasing an additional 58,990 shares in the last quarter. Kennedy Capital Management LLC increased its holdings in shares of Gates Industrial by 6.7% in the 4th quarter. Kennedy Capital Management LLC now owns 1,528,525 shares of the company’s stock valued at $32,817,000 after purchasing an additional 96,392 shares in the last quarter. Finally, Bank of America Corp DE lifted its stake in shares of Gates Industrial by 13.7% in the first quarter. Bank of America Corp DE now owns 1,920,689 shares of the company’s stock valued at $43,427,000 after purchasing an additional 230,836 shares during the period. Hedge funds and other 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.