Traders Purchase Large Volume of Call Options on Gates Industrial (NYSE:GTES)

Gates Industrial Corporation PLC (NYSE:GTES) saw unusually large options trading activity on Thursday. Traders bought 4,005 call options on the stock. This is an increase of 155% compared to the average daily volume of 1,571 call options.

Gates Industrial Stock Performance

NYSE GTES traded down $0.22 on Thursday, hitting $23.96. 190,714 shares of the company’s stock traded hands, compared to its average volume of 2,373,099. The firm’s 50-day moving average price is $24.21 and its two-hundred day moving average price is $23.72. The firm has a market capitalization of $6.08 billion, a PE ratio of 24.98 and a beta of 1.28. The company has a current ratio of 3.67, a quick ratio of 2.66 and a debt-to-equity ratio of 0.61. Gates Industrial has a 1-year low of $20.39 and a 1-year high of $28.47.

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, topping analysts’ consensus estimates of $0.32 by $0.03. Gates Industrial had a net margin of 7.23% and a return on equity of 10.00%. The firm had revenue of $851.10 million for the quarter, compared to analyst estimates of $859.72 million. During the same quarter in the prior year, the business earned $0.36 earnings per share. The business’s quarterly 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. As a group, analysts expect that Gates Industrial will post 1.53 EPS for the current year.

Hedge Funds Weigh In On Gates Industrial

Several institutional investors and hedge funds have recently modified their holdings of the stock. Bank of America Corp DE grew its holdings in Gates Industrial by 13.7% during the first quarter. Bank of America Corp DE now owns 1,920,689 shares of the company’s stock worth $43,427,000 after acquiring an additional 230,836 shares during the period. Janus Henderson Group PLC lifted its holdings in Gates Industrial by 3.8% in the first quarter. Janus Henderson Group PLC now owns 5,230,159 shares of the company’s stock valued at $118,252,000 after acquiring an additional 193,896 shares during the period. Bull Harbor Capital LLC purchased a new stake in Gates Industrial in the 1st quarter worth approximately $224,000. Amundi boosted its position in Gates Industrial by 52.0% in the 1st quarter. Amundi now owns 91,652 shares of the company’s stock worth $2,072,000 after purchasing an additional 31,371 shares in the last quarter. Finally, California State Teachers Retirement System grew its stake in shares of Gates Industrial by 24.2% during the 1st quarter. California State Teachers Retirement System now owns 303,123 shares of the company’s stock worth $6,854,000 after purchasing an additional 58,990 shares during the period. Institutional investors and hedge funds own 98.50% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Royal Bank Of Canada reiterated an “outperform” rating and set a $31.00 price target on shares of Gates Industrial in a report on Friday, February 13th. 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. Wall Street Zen cut Gates Industrial from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 10th. UBS Group restated a “buy” rating and issued a $33.00 target price on shares of Gates Industrial in a research note on Friday, February 13th. Finally, 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 note on Wednesday, March 11th. Seven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Gates Industrial has an average rating of “Moderate Buy” and an average price target of $30.18.

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.