Gates Industrial (NYSE:GTES) Upgraded by Wall Street Zen to “Strong-Buy” Rating

Wall Street Zen upgraded shares of Gates Industrial (NYSE:GTES) from a buy rating to a strong-buy rating in a report issued on Sunday.

Other analysts have also issued reports about the stock. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $31.00 price objective on shares of Gates Industrial in a research note on Friday, February 13th. JPMorgan Chase & Co. dropped their target price on shares of Gates Industrial from $33.00 to $32.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 16th. Morgan Stanley upped their price target on shares of Gates Industrial from $25.00 to $27.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 11th. Weiss Ratings raised shares of Gates Industrial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, March 13th. Finally, Robert W. Baird set a $39.00 price objective on shares of Gates Industrial in a research report on Friday, February 13th. Seven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $30.73.

Gates Industrial Price Performance

Shares of NYSE:GTES opened at $22.12 on Friday. The company has a market capitalization of $5.61 billion, a PE ratio of 22.80 and a beta of 1.22. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.42 and a current ratio of 3.37. The stock has a fifty day moving average of $24.86 and a 200-day moving average of $23.86. Gates Industrial has a one year low of $14.70 and a one year high of $28.47.

Gates Industrial (NYSE:GTES) last announced its earnings results on Thursday, February 12th. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.01. Gates Industrial had a return on equity of 10.36% and a net margin of 7.30%.The company had revenue of $856.20 million for the quarter, compared to analyst estimates of $853.35 million. During the same period in the previous year, the firm earned $0.36 earnings per share. Gates Industrial’s revenue for the quarter was up 3.2% compared to the same quarter last year. Gates Industrial has set its FY 2026 guidance at 1.520-1.680 EPS. As a group, equities analysts anticipate that Gates Industrial will post 1.36 EPS for the current fiscal year.

Institutional Trading of Gates Industrial

Several institutional investors have recently made changes to their positions in GTES. Vanguard Group Inc. increased its stake in Gates Industrial by 5.0% in the 3rd quarter. Vanguard Group Inc. now owns 26,753,365 shares of the company’s stock valued at $664,019,000 after buying an additional 1,281,339 shares during the period. Allspring Global Investments Holdings LLC boosted its stake 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 valued at $312,578,000 after buying an additional 717,353 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Gates Industrial by 3.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 11,250,875 shares of the company’s stock valued at $241,562,000 after acquiring an additional 400,359 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Gates Industrial by 98.7% in the fourth 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. Finally, Invesco Ltd. increased its stake in shares of Gates Industrial by 5.9% in the fourth quarter. Invesco Ltd. now owns 8,322,654 shares of the company’s stock worth $178,687,000 after acquiring an additional 461,160 shares during the last quarter. 98.50% of the stock is currently 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.