Gates Industrial (NYSE:GTES) Price Target Raised to $30.00

Gates Industrial (NYSE:GTES) had its price target lifted by Wells Fargo & Company from $26.00 to $30.00 in a report published on Monday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

GTES has been the topic of several other reports. Citigroup increased their price objective on Gates Industrial from $33.00 to $35.00 and gave the company a “buy” rating in a research report on Monday. Robert W. Baird upped their target price on shares of Gates Industrial from $37.00 to $39.00 and gave the company an “outperform” rating in a research note on Monday. Wolfe Research reaffirmed an “outperform” rating and set a $33.00 price target on shares of Gates Industrial in a report on Thursday, July 9th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Gates Industrial in a research note on Monday, June 29th. Finally, Wall Street Zen cut shares of Gates Industrial from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Nine equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Gates Industrial currently has an average rating of “Moderate Buy” and a consensus target price of $33.00.

Gates Industrial Stock Performance

GTES stock opened at $29.28 on Monday. The stock has a market capitalization of $7.41 billion, a PE ratio of 20.77 and a beta of 1.25. Gates Industrial has a 12-month low of $20.88 and a 12-month high of $30.34. The company has a current ratio of 3.24, a quick ratio of 2.36 and a debt-to-equity ratio of 0.58. The stock’s 50 day simple moving average is $26.96 and its 200 day simple moving average is $25.55.

Gates Industrial (NYSE:GTES) last issued 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 business had revenue of $941.60 million for the quarter, compared to the consensus estimate of $927.28 million. During the same period last year, the business posted $0.39 EPS. The company’s 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. As a group, research analysts forecast that Gates Industrial will post 1.53 earnings per share for the current fiscal year.

Insider Activity at Gates Industrial

In related news, Director Peifang Zhang sold 6,000 shares of the company’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $29.56, for a total transaction of $177,360.00. Following the completion of the sale, the director owned 50,044 shares in the company, valued at approximately $1,479,300.64. This represents a 10.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of GTES. Los Angeles Capital Management LLC bought a new stake in shares of Gates Industrial during the 4th quarter valued at about $26,000. Transamerica Financial Advisors LLC lifted its stake in shares of Gates Industrial by 51.9% in the 4th quarter. Transamerica Financial Advisors LLC now owns 1,577 shares of the company’s stock worth $34,000 after purchasing an additional 539 shares during the period. Fifth Third Bancorp lifted its stake in shares of Gates Industrial by 46.3% in the 1st quarter. Fifth Third Bancorp now owns 1,624 shares of the company’s stock worth $37,000 after purchasing an additional 514 shares during the period. Parallel Advisors LLC boosted its holdings in shares of Gates Industrial by 37.7% in the first quarter. Parallel Advisors LLC now owns 2,536 shares of the company’s stock worth $57,000 after buying an additional 694 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Gates Industrial by 273.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,911 shares of the company’s stock worth $67,000 after buying an additional 2,131 shares during the last quarter. 98.50% of the stock is owned by hedge funds and other institutional investors.

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.