Morgan Stanley Boosts Gates Industrial (NYSE:GTES) Price Target to $27.00

Gates Industrial (NYSE:GTES) had its target price raised by equities researchers at Morgan Stanley from $25.00 to $27.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s target price indicates a potential upside of 13.92% from the company’s current price.

A number of other research analysts have also recently issued reports on the stock. Wells Fargo & Company initiated coverage on shares of Gates Industrial in a research report on Thursday, November 13th. They set an “equal weight” rating and a $23.00 price target for the company. Barclays lifted their target price on shares of Gates Industrial from $26.00 to $32.00 and gave the company an “overweight” rating in a report on Friday, February 13th. Wall Street Zen raised Gates Industrial from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 14th. JPMorgan Chase & Co. reduced their price objective on Gates Industrial from $33.00 to $32.00 and set an “overweight” rating for the company in a research report on Tuesday, December 16th. Finally, UBS Group reiterated a “buy” rating and set a $33.00 price objective on shares of Gates Industrial in a research note on Friday, February 13th. Six analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $30.73.

Gates Industrial Stock Down 2.3%

Shares of GTES stock traded down $0.57 during midday trading on Wednesday, reaching $23.70. 917,281 shares of the stock were exchanged, compared to its average volume of 2,547,028. The firm has a market cap of $6.02 billion, a PE ratio of 24.40 and a beta of 1.23. The company has a current ratio of 3.37, a quick ratio of 2.42 and a debt-to-equity ratio of 0.61. The company’s 50 day moving average is $24.75 and its two-hundred day moving average is $24.11. Gates Industrial has a 1 year low of $14.70 and a 1 year high of $28.47.

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

Institutional Trading of Gates Industrial

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Gates Industrial by 5.0% during the 3rd quarter. Vanguard Group Inc. now owns 26,753,365 shares of the company’s stock valued at $664,019,000 after acquiring an additional 1,281,339 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of Gates Industrial by 5.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 14,169,457 shares of the company’s stock worth $312,578,000 after purchasing an additional 717,353 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Gates Industrial by 3.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 11,250,875 shares of the company’s stock worth $241,562,000 after purchasing an additional 400,359 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Gates Industrial by 98.7% during the 4th quarter. JPMorgan Chase & Co. now owns 8,373,294 shares of the company’s stock valued at $179,775,000 after purchasing an additional 4,158,341 shares during the period. Finally, Invesco Ltd. lifted its stake in shares of Gates Industrial by 5.9% during the 4th quarter. Invesco Ltd. now owns 8,322,654 shares of the company’s stock valued at $178,687,000 after buying an additional 461,160 shares in the last quarter. Institutional investors own 98.50% of the company’s stock.

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.