DA Davidson Initiates Coverage on Gates Industrial (NYSE:GTES)

Stock analysts at DA Davidson started coverage on shares of Gates Industrial (NYSE:GTES) in a research note issued on Tuesday, Benzinga reports. The firm set a “neutral” rating and a $29.00 price target on the stock. DA Davidson’s price objective points to a potential upside of 13.46% from the company’s current price.

A number of other analysts also recently issued reports on the stock. Royal Bank Of Canada raised their price target on shares of Gates Industrial from $33.00 to $34.00 and gave the company an “outperform” 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 company an “overweight” rating in a report 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. Wall Street Zen raised shares of Gates Industrial from a “hold” rating to a “strong-buy” rating in a research report on Saturday, August 8th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Gates Industrial from $32.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday, August 3rd. Nine investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $32.45.

Gates Industrial Trading Down 1.2%

NYSE:GTES opened at $25.56 on Tuesday. The stock has a market cap of $6.47 billion, a price-to-earnings ratio of 18.13 and a beta of 1.25. The company has a quick ratio of 2.36, a current ratio of 3.24 and a debt-to-equity ratio of 0.58. The company’s 50 day moving average price is $27.09 and its 200-day moving average price is $25.93. Gates Industrial has a 52 week low of $20.88 and a 52 week high of $30.34.

Gates Industrial (NYSE:GTES) last released its quarterly earnings data on Friday, July 31st. The company reported $0.44 earnings per share (EPS) for the quarter, beating 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 business had revenue of $941.60 million for the quarter, compared to analysts’ expectations of $927.28 million. During the same period in the prior year, the firm posted $0.39 EPS. The firm’s quarterly revenue 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, equities research analysts forecast that Gates Industrial will post 1.55 earnings per share for the current fiscal year.

Insider Activity at Gates Industrial

In other news, Director Peifang Zhang sold 6,000 shares of the stock in a transaction that occurred 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 transaction, the director owned 44,044 shares in the company, valued at $1,301,940.64. This represents a 11.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.80% of the stock is owned by insiders.

Institutional Trading of Gates Industrial

Several large investors have recently added to or reduced their stakes in GTES. Dimensional Fund Advisors LP increased its holdings in Gates Industrial by 2.6% during the first quarter. Dimensional Fund Advisors LP now owns 11,546,581 shares of the company’s stock valued at $261,040,000 after buying an additional 295,706 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of 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 acquiring an additional 4,158,341 shares during the last quarter. Invesco Ltd. grew its position in shares of Gates Industrial by 5.9% during the 4th quarter. Invesco Ltd. now owns 8,322,654 shares of the company’s stock valued at $178,687,000 after acquiring an additional 461,160 shares during the period. California State Teachers Retirement System grew its position in shares of Gates Industrial by 2,617.6% during the 2nd quarter. California State Teachers Retirement System now owns 8,237,752 shares of the company’s stock valued at $230,410,000 after acquiring an additional 7,934,629 shares during the period. Finally, State Street Corp increased its stake in shares of Gates Industrial by 3.0% in the 4th quarter. State Street Corp now owns 7,971,572 shares of the company’s stock worth $171,150,000 after purchasing an additional 232,447 shares in the last quarter. 98.50% of the stock is currently 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.