Gates Industrial Corp PLC (NYSE:GTES) Receives Average Rating of “Moderate Buy” from Analysts

Gates Industrial Corp PLC (NYSE:GTES) has earned a consensus rating of “Moderate Buy” from the nine brokerages that are covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $19.44.

A number of research analysts have weighed in on the company. The Goldman Sachs Group raised their price objective on Gates Industrial from $18.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Evercore ISI boosted their price target on shares of Gates Industrial from $15.00 to $16.00 and gave the stock an “in-line” rating in a research report on Monday, August 19th. Barclays cut their price objective on shares of Gates Industrial from $17.00 to $16.00 and set an “equal weight” rating for the company in a report on Tuesday, June 4th. Royal Bank of Canada upgraded Gates Industrial from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $20.00 to $22.00 in a research report on Monday, August 19th. Finally, Robert W. Baird reduced their price objective on Gates Industrial from $26.00 to $22.00 and set an “outperform” rating on the stock in a research report on Thursday, August 1st.

Insider Buying and Selling at Gates Industrial

In other news, Director Wilson S. Neely bought 11,952 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were bought at an average price of $16.80 per share, with a total value of $200,793.60. Following the completion of the transaction, the director now directly owns 6,000 shares in the company, valued at $100,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On Gates Industrial

Large investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC purchased a new position in Gates Industrial in the fourth quarter valued at $27,000. Headlands Technologies LLC grew its stake in Gates Industrial by 341.1% during the 2nd quarter. Headlands Technologies LLC now owns 1,707 shares of the company’s stock worth $27,000 after buying an additional 1,320 shares during the last quarter. Gladius Capital Management LP purchased a new stake in Gates Industrial in the fourth quarter valued at approximately $48,000. TFO Wealth Partners LLC grew its position in shares of Gates Industrial by 68,390.0% during the fourth quarter. TFO Wealth Partners LLC now owns 6,849 shares of the company’s stock worth $92,000 after acquiring an additional 6,839 shares during the last quarter. Finally, Johnson Financial Group Inc. raised its position in Gates Industrial by 26.4% in the 4th quarter. Johnson Financial Group Inc. now owns 7,919 shares of the company’s stock valued at $106,000 after purchasing an additional 1,654 shares during the last quarter. 98.50% of the stock is owned by hedge funds and other institutional investors.

Gates Industrial Trading Down 0.4 %

Shares of GTES stock opened at $17.93 on Thursday. The stock has a 50 day simple moving average of $16.67 and a 200-day simple moving average of $16.55. Gates Industrial has a 1-year low of $10.68 and a 1-year high of $19.07. The company has a market cap of $4.69 billion, a price-to-earnings ratio of 19.70 and a beta of 1.44. The company has a debt-to-equity ratio of 0.68, a current ratio of 3.11 and a quick ratio of 2.15.

Gates Industrial (NYSE:GTES) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.01. Gates Industrial had a net margin of 7.24% and a return on equity of 10.27%. The company had revenue of $885.50 million during the quarter, compared to analysts’ expectations of $893.00 million. On average, equities research analysts expect that Gates Industrial will post 1.27 EPS for the current fiscal year.

About Gates Industrial

Gates Industrial Corporation PLC designs and manufactures power transmission equipment. Its products serves harsh and hazardous industries such as agriculture, construction, manufacturing and energy, to everyday consumer applications such as printers, power washers, automatic doors and vacuum cleaners and virtually every form of transportation.