Gates Industrial (NYSE:GTES) Hits New 1-Year High – Here’s Why

Gates Industrial Corporation PLC (NYSE:GTES)’s share price reached a new 52-week high on Wednesday . The company traded as high as $28.56 and last traded at $28.4770, with a volume of 129416 shares trading hands. The stock had previously closed at $27.69.

Analyst Ratings Changes

GTES has been the subject of a number of recent research reports. Wall Street Zen downgraded shares of Gates Industrial from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 10th. Barclays lowered their target price 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 upped their target price on Gates Industrial from $27.00 to $28.00 and gave the stock an “equal weight” rating in a report on Friday, May 29th. Robert W. Baird decreased their price target on Gates Industrial from $39.00 to $37.00 and set an “outperform” rating for the company in a research note on Monday, May 4th. Finally, Weiss Ratings lowered Gates Industrial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, April 1st. Seven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $31.00.

Gates Industrial Stock Up 2.7%

The company has a quick ratio of 2.66, a current ratio of 3.67 and a debt-to-equity ratio of 0.61. The firm has a 50 day simple moving average of $25.64 and a 200-day simple moving average of $24.32. The stock has a market cap of $7.14 billion, a P/E ratio of 29.27 and a beta of 1.27.

Gates Industrial (NYSE:GTES) last released its quarterly earnings data on Friday, May 1st. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03. Gates Industrial had a return on equity of 10.00% and a net margin of 7.23%.The company had revenue of $851.10 million during the quarter, compared to analysts’ expectations of $859.72 million. During the same period last year, the firm posted $0.36 earnings per share. The business’s revenue was up .4% on a year-over-year basis. Gates Industrial has set its FY 2026 guidance at 1.520-1.680 EPS. On average, equities research analysts forecast that Gates Industrial Corporation PLC will post 1.54 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Gates Industrial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GTES. Vanguard Group Inc. raised its position in shares of Gates Industrial by 5.0% in the third quarter. Vanguard Group Inc. now owns 26,753,365 shares of the company’s stock valued at $664,019,000 after purchasing an additional 1,281,339 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of Gates Industrial by 5.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 14,169,457 shares of the company’s stock worth $312,578,000 after buying an additional 717,353 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Gates Industrial by 2.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 11,546,581 shares of the company’s stock worth $261,040,000 after buying an additional 295,706 shares during the period. JPMorgan Chase & Co. grew its stake in Gates Industrial by 98.7% in the 4th quarter. JPMorgan Chase & Co. now owns 8,373,294 shares of the company’s stock valued at $179,775,000 after buying an additional 4,158,341 shares during the last quarter. Finally, Invesco Ltd. grew its stake in Gates Industrial by 5.9% in the 4th quarter. Invesco Ltd. now owns 8,322,654 shares of the company’s stock valued at $178,687,000 after buying an additional 461,160 shares during the last quarter. 98.50% of the stock is owned by institutional investors.

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.