Gates Industrial (NYSE:GTES) Price Target Raised to $34.00 at Royal Bank Of Canada

Gates Industrial (NYSE:GTES) had its target price boosted by investment analysts at Royal Bank Of Canada from $33.00 to $34.00 in a report released on Monday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price indicates a potential upside of 18.84% from the company’s previous close.

Other analysts also recently issued research reports about the stock. KeyCorp increased their price objective on shares of Gates Industrial from $31.00 to $34.00 and gave the company an “overweight” rating in a research report on Monday. Wolfe Research restated an “outperform” rating and set a $33.00 target price on shares of Gates Industrial in a research note on Thursday, July 9th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Gates Industrial in a research report on Monday, June 29th. Wells Fargo & Company boosted their price target on Gates Industrial from $26.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Monday. Finally, Wall Street Zen downgraded Gates Industrial from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Eight analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $32.82.

Gates Industrial Stock Up 2.3%

NYSE:GTES traded up $0.63 during mid-day trading on Monday, hitting $28.61. The company had a trading volume of 748,490 shares, compared to its average volume of 2,262,717. The business has a fifty day simple moving average of $26.70 and a 200-day simple moving average of $25.40. The firm has a market capitalization of $7.27 billion, a price-to-earnings ratio of 20.28 and a beta of 1.25. Gates Industrial has a 1 year low of $20.88 and a 1 year high of $29.17. The company has a current ratio of 3.24, a quick ratio of 2.36 and a debt-to-equity ratio of 0.58.

Gates Industrial (NYSE:GTES) last issued its earnings results on Friday, July 31st. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.02. Gates Industrial had a return on equity of 10.11% and a net margin of 10.37%.The company had revenue of $941.60 million during the quarter, compared to the consensus estimate of $927.28 million. During the same quarter in the prior year, the business earned $0.39 earnings per share. The company’s revenue was up 6.6% compared to the same quarter last year. Gates Industrial has set its FY 2026 guidance at 1.620-1.700 EPS. Equities analysts forecast that Gates Industrial will post 1.53 earnings per share for the current fiscal year.

Institutional Trading of Gates Industrial

Several hedge funds have recently made changes to their positions in GTES. JPMorgan Chase & Co. grew its holdings in Gates Industrial by 98.7% in the 4th quarter. JPMorgan Chase & Co. now owns 8,373,294 shares of the company’s stock worth $179,775,000 after buying an additional 4,158,341 shares in the last quarter. Norges Bank acquired a new stake in Gates Industrial in the 4th quarter valued at approximately $74,843,000. Van Berkom & Associates Inc. bought a new stake in Gates Industrial during the 4th quarter valued at $68,614,000. Adage Capital Partners GP L.L.C. bought a new stake in Gates Industrial during the 2nd quarter valued at $32,255,000. Finally, Nuveen LLC raised its stake in Gates Industrial by 280.0% during the 4th quarter. Nuveen LLC now owns 1,725,274 shares of the company’s stock valued at $37,042,000 after acquiring an additional 1,271,248 shares in the last quarter. Institutional investors 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.