Gates Industrial (NYSE:GTES) Upgraded by DA Davidson to “Hold” Rating

Gates Industrial (NYSE:GTES) was upgraded by equities research analysts at DA Davidson to a “hold” rating in a research report issued to clients and investors on Monday, Zacks reports.

A number of other research analysts have also recently commented on the stock. Wells Fargo & Company boosted their target price on shares of Gates Industrial from $26.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Monday, August 3rd. Royal Bank Of Canada lifted their price target on shares of Gates Industrial from $33.00 to $34.00 and gave the stock an “outperform” rating in a research note on Monday, August 3rd. Weiss Ratings upgraded shares of Gates Industrial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, August 3rd. KeyCorp boosted their price objective on shares of Gates Industrial from $31.00 to $34.00 and gave the stock an “overweight” rating in a report on Monday, August 3rd. Finally, Citigroup raised their target price on Gates Industrial from $33.00 to $35.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. Nine investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $32.45.

Gates Industrial Stock Performance

Shares of NYSE:GTES opened at $24.85 on Monday. The company has a market cap of $6.29 billion, a P/E ratio of 17.62 and a beta of 1.25. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.36 and a current ratio of 3.24. Gates Industrial has a one year low of $20.88 and a one year high of $30.34. The business’s 50-day simple moving average is $27.04 and its 200 day simple moving average is $25.92.

Gates Industrial (NYSE:GTES) last released its quarterly earnings results on Friday, July 31st. The company reported $0.44 EPS 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 firm had revenue of $941.60 million for the quarter, compared to analyst estimates of $927.28 million. During the same period in the previous year, the company posted $0.39 EPS. Gates Industrial’s revenue for the quarter was up 6.6% on a year-over-year basis. Gates Industrial has set its FY 2026 guidance at 1.620-1.700 EPS. On average, sell-side analysts forecast that Gates Industrial will post 1.55 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Peifang Zhang sold 6,000 shares of Gates Industrial stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $29.56, for a total value of $177,360.00. Following the completion of the sale, the director owned 44,044 shares in the company, valued at approximately $1,301,940.64. The trade was a 11.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Los Angeles Capital Management LLC bought a new stake in shares of Gates Industrial in the 4th quarter worth about $26,000. Transamerica Financial Advisors LLC lifted its position in shares of Gates Industrial by 51.9% during the fourth quarter. Transamerica Financial Advisors LLC now owns 1,577 shares of the company’s stock worth $34,000 after purchasing an additional 539 shares during the last quarter. Fifth Third Bancorp grew its stake in Gates Industrial by 46.3% in the first quarter. Fifth Third Bancorp now owns 1,624 shares of the company’s stock worth $37,000 after purchasing an additional 514 shares in the last quarter. Parallel Advisors LLC grew its stake in Gates Industrial by 37.7% in the first quarter. Parallel Advisors LLC now owns 2,536 shares of the company’s stock worth $57,000 after purchasing an additional 694 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in Gates Industrial by 273.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,911 shares of the company’s stock valued at $67,000 after buying an additional 2,131 shares during the last quarter. 98.50% of the stock is owned by institutional investors and hedge funds.

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.