Brokerages Set Gates Industrial Corporation PLC (NYSE:GTES) PT at $30.27

Shares of Gates Industrial Corporation PLC (NYSE:GTES) have received a consensus rating of “Moderate Buy” from the eleven ratings firms that are covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $30.2727.

A number of equities analysts have recently commented on GTES shares. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $31.00 target price on shares of Gates Industrial in a report on Friday, February 13th. JPMorgan Chase & Co. dropped their price objective on shares of Gates Industrial from $33.00 to $32.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 16th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Gates Industrial in a research note on Monday, December 29th. Wells Fargo & Company assumed coverage on Gates Industrial in a research report on Thursday, November 13th. They issued an “equal weight” rating and a $23.00 price target on the stock. Finally, Citigroup increased their price objective on Gates Industrial from $27.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday, February 13th.

Institutional Investors Weigh In On Gates Industrial

Several hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. raised its position in 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 buying an additional 4,158,341 shares during the last quarter. Norges Bank acquired a new position in shares of Gates Industrial during the second quarter worth about $80,713,000. Van Berkom & Associates Inc. acquired a new position in shares of Gates Industrial during the fourth quarter worth about $68,614,000. Adage Capital Partners GP L.L.C. purchased a new position in Gates Industrial during the second quarter worth about $32,255,000. Finally, Vanguard Group Inc. lifted its position in Gates Industrial by 5.0% in the third quarter. Vanguard Group Inc. now owns 26,753,365 shares of the company’s stock valued at $664,019,000 after purchasing an additional 1,281,339 shares during the period. 98.50% of the stock is owned by institutional investors and hedge funds.

Gates Industrial Stock Up 1.4%

GTES opened at $27.57 on Monday. Gates Industrial has a one year low of $14.70 and a one year high of $28.47. 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 market capitalization of $7.00 billion, a P/E ratio of 28.43 and a beta of 1.27. The business’s 50-day simple moving average is $24.26 and its 200-day simple moving average is $24.08.

Gates Industrial (NYSE:GTES) last released its quarterly 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 firm had revenue of $856.20 million for the quarter, compared to the consensus estimate of $853.35 million. During the same quarter last year, the business posted $0.36 EPS. The firm’s quarterly revenue 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. Analysts anticipate that Gates Industrial will post 1.36 EPS for the current year.

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.