Gates Industrial (NYSE:GTES) Stock Rating Lowered by Wall Street Zen

Gates Industrial (NYSE:GTES) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday.

Other research analysts have also recently issued research reports about the stock. Morgan Stanley upped their target price on shares of Gates Industrial from $27.00 to $28.00 and gave the company an “equal weight” rating in a report on Friday, May 29th. Barclays cut their price target on shares of Gates Industrial from $32.00 to $28.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 1st. Weiss Ratings reissued a “hold (c+)” rating on shares of Gates Industrial in a research report on Monday, June 29th. Royal Bank Of Canada upped their price objective on shares of Gates Industrial from $30.00 to $33.00 and gave the company an “outperform” rating in a research note on Thursday, July 16th. Finally, Robert W. Baird dropped their price objective on Gates Industrial from $39.00 to $37.00 and set an “outperform” rating on the stock in a report on Monday, May 4th. Eight investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $31.36.

Gates Industrial Price Performance

GTES stock opened at $26.89 on Friday. The business has a 50 day moving average price of $26.47 and a 200 day moving average price of $25.27. The stock has a market cap of $6.83 billion, a price-to-earnings ratio of 28.01 and a beta of 1.25. Gates Industrial has a fifty-two week low of $20.88 and a fifty-two week high of $29.17. The company has a quick ratio of 2.66, a current ratio of 3.67 and a debt-to-equity ratio of 0.61.

Gates Industrial (NYSE:GTES) last announced its quarterly earnings results on Friday, May 1st. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.32 by $0.03. Gates Industrial had a net margin of 7.23% and a return on equity of 10.00%. The company had revenue of $851.10 million for the quarter, compared to analyst estimates of $859.72 million. During the same period in the prior year, the firm posted $0.36 earnings per share. The firm’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. Equities research analysts anticipate that Gates Industrial will post 1.53 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Gates Industrial

Hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. grew its position in Gates Industrial by 98.7% during the 4th quarter. JPMorgan Chase & Co. now owns 8,373,294 shares of the company’s stock worth $179,775,000 after purchasing an additional 4,158,341 shares during the last quarter. Norges Bank purchased a new stake in shares of Gates Industrial in the fourth quarter valued at about $74,843,000. Van Berkom & Associates Inc. purchased a new stake in shares of Gates Industrial in the fourth quarter valued at about $68,614,000. Adage Capital Partners GP L.L.C. acquired a new stake in shares of Gates Industrial during the second quarter worth about $32,255,000. Finally, Nuveen LLC boosted its stake in shares of Gates Industrial by 280.0% during the fourth quarter. Nuveen LLC now owns 1,725,274 shares of the company’s stock worth $37,042,000 after buying an additional 1,271,248 shares during the period. 98.50% of the stock is currently owned by hedge funds and other 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.