Gates Industrial Corporation PLC (NYSE:GTES) Receives Average Rating of “Moderate Buy” from Analysts

Gates Industrial Corporation PLC (NYSE:GTES) has earned a consensus recommendation of “Moderate Buy” from the eleven analysts that are covering the firm, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $31.00.

A number of research firms have recently issued reports on GTES. Robert W. Baird dropped their price target on Gates Industrial from $39.00 to $37.00 and set an “outperform” rating for the company in a research report on Monday, May 4th. Barclays reduced their price objective 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. Morgan Stanley boosted their price objective on Gates Industrial from $27.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Friday, May 29th. Wall Street Zen cut Gates Industrial from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 10th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Gates Industrial in a research note on Monday, June 29th.

Hedge Funds Weigh In On Gates Industrial

Institutional investors have recently bought and sold shares of the company. Parallel Advisors LLC increased its holdings in shares of Gates Industrial by 37.7% during the 1st quarter. Parallel Advisors LLC now owns 2,536 shares of the company’s stock worth $57,000 after buying an additional 694 shares during the last quarter. Bank of America Corp DE lifted its holdings in 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 acquiring an additional 230,836 shares during the last quarter. 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 last quarter. Bull Harbor Capital LLC purchased a new position in Gates Industrial in the first quarter worth approximately $224,000. Finally, Amundi grew its position in Gates Industrial by 52.0% in the first quarter. Amundi now owns 91,652 shares of the company’s stock worth $2,072,000 after acquiring an additional 31,371 shares during the period. 98.50% of the stock is owned by hedge funds and other institutional investors.

Gates Industrial Stock Performance

NYSE:GTES opened at $26.73 on Friday. The company has a market cap of $6.79 billion, a P/E ratio of 27.84 and a beta of 1.25. Gates Industrial has a twelve month low of $20.88 and a twelve month high of $29.17. The company’s 50-day moving average price is $26.16 and its 200-day moving average price is $24.75. 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 (NYSE:GTES) last announced its quarterly earnings data on Friday, May 1st. The company reported $0.35 earnings per share (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 analysts’ expectations of $859.72 million. Gates Industrial had a net margin of 7.23% and a return on equity of 10.00%. Gates Industrial’s revenue was up .4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.36 EPS. Gates Industrial has set its FY 2026 guidance at 1.520-1.680 EPS. On average, sell-side analysts forecast that Gates Industrial will post 1.55 earnings per share for the current fiscal year.

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.