Gates Industrial (NYSE:GTES) Rating Increased to Hold at DA Davidson

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

A number of other research analysts also recently commented on the stock. JPMorgan Chase & Co. upped their price objective on shares of Gates Industrial from $32.00 to $34.00 and gave the company an “overweight” rating in a research note on Monday, August 3rd. Weiss Ratings raised shares of Gates Industrial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, August 3rd. Citigroup boosted their target price on shares of Gates Industrial from $33.00 to $35.00 and gave the company a “buy” rating in a report on Monday, August 3rd. Wells Fargo & Company upped their price target 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. Finally, Wall Street Zen raised shares of Gates Industrial from a “hold” rating to a “strong-buy” rating in a research note on Saturday, August 8th. Nine research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $32.45.

Gates Industrial Price Performance

GTES stock opened at $24.85 on Monday. The stock has a market capitalization of $6.29 billion, a price-to-earnings ratio of 17.62 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. Gates Industrial has a 52-week low of $20.88 and a 52-week high of $30.34. The stock’s fifty day simple moving average is $27.04 and its 200-day simple moving average is $25.92.

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

Insider Buying and Selling at Gates Industrial

In other news, Director Peifang Zhang sold 6,000 shares of Gates Industrial stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $29.56, for a total value of $177,360.00. Following the transaction, the director directly owned 44,044 shares of the company’s stock, valued at $1,301,940.64. The trade was a 11.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 2.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of GTES. Empowered Funds LLC purchased a new stake in Gates Industrial during the first quarter worth approximately $381,000. Creative Planning increased its position in shares of Gates Industrial by 53.9% in the second quarter. Creative Planning now owns 15,435 shares of the company’s stock worth $355,000 after acquiring an additional 5,404 shares in the last quarter. Prudential Financial Inc. raised its stake in shares of Gates Industrial by 52.7% in the 2nd quarter. Prudential Financial Inc. now owns 17,940 shares of the company’s stock valued at $389,000 after acquiring an additional 6,190 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in shares of Gates Industrial by 273.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,911 shares of the company’s stock valued at $67,000 after acquiring an additional 2,131 shares during the period. Finally, M&T Bank Corp lifted its holdings in shares of Gates Industrial by 8.6% during the 2nd quarter. M&T Bank Corp now owns 11,801 shares of the company’s stock valued at $272,000 after acquiring an additional 937 shares in the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.

About Gates Industrial

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.